Ontario is strengthening its economic ties with the State of Maryland through a renewed and expanded Memorandum of Understanding (MOU) aimed at boosting cooperation across key high-growth sectors, including life sciences, information technology and clean energy. The agreement, announced Wednesday, is part of the province’s broader strategy to position Ontario as the most resilient and competitive economy in the G7.
Provincial officials say the renewed MOU will deepen cross-border collaboration at a time when global economic uncertainty is prompting governments to diversify partnerships and remove barriers to trade. The agreement builds on an existing MOU signed in 2020 and is intended to create new opportunities for businesses and workers in both jurisdictions.
“Ontario and Maryland share a strong and growing partnership built on innovation, hard work and opportunity,” said Ontario Premier Doug Ford. “By rejecting tariffs and trade barriers and building Fortress Am-Can — a renewed strategic alliance between the U.S. and Canada — we can support workers and businesses in Maryland and Ontario while attracting investment and exchanging cutting-edge innovations and technologies. We’re stronger when we work together, and our government is proud to work with Governor Moore and the State of Maryland to build our economies while helping to lower costs for workers and families.”
Maryland’s leadership emphasized similar goals, particularly around innovation and shared economic development priorities. “Partnership produces progress across regions, economies and cultures,” said Wes Moore, Governor of Maryland. “We are proud to double down on Maryland’s friendship with Ontario, which has been a source of job creation and economic growth for years. And by expanding the terms of this collaborative partnership to include key sectors like life sciences and I.T., we are furthering Maryland’s leadership in industries of the future. Together, we are building greater shared prosperity.”
Ontario officials say the updated MOU reflects a commitment to strengthening North American supply chains and supporting advanced sectors that are rapidly evolving. With global economic pressures reshaping markets—from digital transformation to climate-driven infrastructure change—Ontario is prioritizing partnerships that open trade, attract investment and build long-term competitiveness.
“While many jurisdictions around the globe are facing economic uncertainty, Ontario is focused on what keeps our economy open, competitive and ready for growth,” said Andrea Khanjin, Ontario Minister of Red Tape Reduction. “We need to keep trade moving, we need to cut red tape and reduce barriers that hold back investment, and we need to build strong economic ties with partners like Maryland that will help our workers and businesses succeed.”
Trade between Ontario and Maryland continues to be a significant contributor to both economies. In 2024, goods traded between the two totalled CAD $2.7 billion, reflecting a healthy cross-border exchange that the renewed MOU aims to expand. Today, approximately 40 Ontario businesses operate in Maryland, while an estimated 30 Maryland companies maintain a presence in Ontario.
Economic cooperation is expected to deepen in areas tied to shared policy priorities, such as digital modernization, workforce development, decarbonization, and the advancement of clean energy technologies. “From meeting the needs of a digital economy to addressing climate change, Maryland and Ontario are working towards several of the same economic development initiatives,” said Maryland Secretary of Commerce Harry Coker, Jr. “Encouraging these open lines of communication will strengthen ties between both regions as we support our growing North American communities.”
Ontario has been active in establishing new agreements with U.S. partners over the past two years. Since 2023, the province has signed economic cooperation agreements with Indiana, Michigan, Nevada, Illinois and New Jersey, signalling a strategic emphasis on continental partnerships that can deliver long-term economic security.
The province notes that nearly one in five jobs in Ontario relies on trade, with more than 1.3 million jobs supported by exports—making the province Canada’s most trade-dependent economy. In 2024, merchandise trade between Ontario and the United States reached more than $487 billion, underscoring the importance of maintaining open trade channels with American states.
Officials say the renewed Ontario–Maryland MOU will help businesses scale, access new markets, and adopt innovative technologies while supporting workers through new job opportunities generated by cross-border investment and collaboration. By removing trade barriers and fostering cooperative innovation, both jurisdictions expect to strengthen their roles in an increasingly competitive and interconnected global marketplace.
The expanded partnership, Ontario says, reinforces its long-term strategy to build economic resilience through diversified partnerships and strong cross-border alliances—key elements of its plan to ensure job growth, industrial competitiveness and prosperity for the province in the years ahead.