Safe Orillia businesses are in line for $3.2 million in Workplace Safety and Insurance Board (WSIB) rebates, the province announced this week. The money comes from a $1.5 billion WSIB surplus.
At the provincial announcement in Barrie, Monte McNaughton, minister of labour, training and skills development, said Barrie businesses would be eligible for about $10 million.
Simcoe-North MPP Jill Dunlop's staff confirmed qualified Orillia enterprises would be receiving $3.2 million as part of their share of the surplus.
McNaughton said the refunds are part of $1.5 billion in WSIB surplus funds being returned to 300,000 Ontario businesses, approximately 30 per cent of their annual premium payments, helping create new jobs and allowing for bigger paycheques for workers.
“Businesses that have a great track record when it comes to health and safety will receive rebates; 95 per cent of those will be small businesses. That’s good news for main street," said McNaughton.
“This will really help with the economic recovery of the province," he added.
The WSIB sits in the strongest financial position in its history, the province says, and as of Sept. 30, 2021 had $6.4 billion in reserve.
The surplus distribution will only be provided to safe employers, the province says, which will receive their rebates starting in April. For a business with 80 to 125 employees, this could mean receiving $28,000 to reinvest in their business and workers.
“On March 1, most of the (COVID-19) restrictions will be gone that businesses face,” McNaughton said. “A month later, the WSIB will essentially inject $1.5 billion into local economies across the province.”
This builds on $2.4 billion already given back to employers through WSIB premium reductions, while maintaining benefits for injured workers, the province says.
“Ontario businesses are paying the lowest average premium rate in more than 20 years,” said WSIB chairman Grant Walsh. “With solid financial management we can give this rebate to businesses at a time when they need it most while protecting coverage for people injured at work.”
“We are rewarding businesses who have kept their businesses safe,” McNaughton said. “Money is always better in people’s pockets than in the government’s.”
Also on hand for the announcement were local MPPs Doug Downey (Barrie-Springwater-Oro-
