Sault Ste. Marie Chamber of Commerce Responds to 2026 Ontario Budget

Sault Ste. Marie, ON – The Sault Ste. Marie Chamber of Commerce is welcoming elements of the Ontario Government’s 2026 Budget that support small and medium-sized enterprises (SMEs), while calling for targeted action to ensure Northern Ontario businesses fully benefit from provincial investments.
 
The Chamber is encouraged by the government’s decision to reduce the small business corporate income tax rate from 3.2 per cent to 2.2 per cent -- providing meaningful relief to more than 375,000 Ontario businesses and helping them reinvest, grow, and manage rising costs. This measure reflects long-standing advocacy from the business community and aligns with the priorities identified by the Ontario Chamber of Commerce.
 
Additional measures, including accelerated write-offs for capital investment and continued support for key sectors such as manufacturing, critical minerals, and infrastructure, signal a commitment to strengthening Ontario’s economic competitiveness and productivity. These investments have the potential to create important supply chain and procurement opportunities for businesses in Northern Ontario.
 
“We welcome the support for small businesses in this budget,” says La-Na Fragomeni, president of the Sault Ste. Marie Chamber of Commerce. “Success, however, will depend on whether Northern Ontario companies can access real opportunities -- including procurement and workforce supports. That includes stronger action to support Algoma Steel through Buy Ontario Steel policies, targeted sector investment, and a clear path for its low-carbon future.”
 
As a major employer and economic driver in our region, Algoma Steel plays a critical role in both the local and provincial economy. The Chamber is encouraging the Province to take further steps to strengthen domestic supply chains by prioritizing Ontario-produced steel in public infrastructure projects and ensuring local businesses can participate in procurement opportunities tied to major investments.
 
At the same time, the Chamber notes that while the current economic environment remains uncertain -- with ongoing trade pressures and global instability -- Ontario must remain focused on long-term fiscal sustainability. The projected deficits underscore the importance of a clear plan to return to balanced budgets when economic conditions allow.
 
“Businesses understand the challenges governments are facing, but long-term competitiveness depends on fiscal discipline. We encourage the Province to return to balance at the earliest opportunity while continuing to invest in growth,” adds Fragomeni.
 
The Sault Ste. Marie Chamber of Commerce looks forward to working with the Province to ensure that the measures outlined in this budget translate into tangible benefits for local businesses, workers, and communities across Northern Ontario.
 

 
About the Sault Ste. Marie Chamber of Commerce
The Sault Ste. Marie Chamber of Commerce is a not-for-profit organization comprised of 600 plus businesses and agencies in Sault Ste. Marie and has been serving the needs of this community since 1889. The Sault Ste. Marie Chamber of Commerce will lead the way as the voice of business, advancing economic prosperity for its membership and the business community. Learn more about the SSMCOC at www.ssmcoc.com