Ontario isn’t just relying on legacy industries in 2025. The province is quietly rewriting its economic story, sector by sector. While traditional growth markets still matter, the rise of emerging markets is turning heads and generating profits.
What Exactly Is a Growth Market?
A growth market is any area of the economy where something important is happening fast. There’s rising demand and not enough supply, and there’s a gap for someone smart to fill.
Sometimes, it’s a new tech wave or a shift in how people live, eat, move, or gamble. What matters is momentum. Growth markets are where change turns into opportunity, and the window to jump in doesn’t stay open forever.
Yes, the term gets thrown around in pitch decks and LinkedIn posts. However, underneath the buzzword, here’s the core truth: growth markets are where new fortunes are made and old money may be left behind.
Here are the main growth drivers of the Canadian economy in 2025.
Ontario’s Technology
Walk through downtown Toronto or around the university corridors in Waterloo, and you’ll feel it. Ontario’s tech engine isn’t slowing down.
Artificial intelligence is the loudest player in the room. The Vector Institute, Ontario’s AI flagship, is spinning out talent that feeds directly into startups and enterprise R&D labs. Google, Meta, and Shopify are recruiting here.
Ontario’s tech sector is booming, with the AI and data arms leading the charge. Data scientists are in critical demand. The numbers say it all: According to ImmigCanada, there has been a 3,500% spike in job growth since 2023, with wages averaging $49.15 an hour and hundreds of unfilled roles.
Why? Because every serious industry now runs on data. Everyone needs someone who can turn raw numbers into action in finance, healthcare, logistics, and even public policy.
Manufacturing
You’d be forgiven for assuming Ontario’s manufacturing muscle had faded. But take a closer look, and you’ll find something else: precision-built reinvention.
The auto sector is leaning into electric vehicles. Ford and GM have both pumped hundreds of millions into their Ontario operations. Meanwhile, aerospace manufacturing is having a moment, as supply chains shift and demand climbs for clean tech components.
iGaming
You may not think of online slots and sports betting as industry cornerstones, but they’re becoming one in Ontario.
Since the launch of the regulated iGaming market in 2022, the province has pulled in over $3.2 billion in total gaming revenue, according to iGaming Ontario. And the momentum isn’t slowing. In Q1 2025, revenue from real money online slots including popular titles featured at BetMGM casino saw a substantial year-over-year increase, thanks to exclusive titles and a mobile-first platform.
This isn’t a fringe business. iGaming now supports thousands of jobs from customer service reps and software engineers to marketing strategists and regulatory consultants.
The best part? It’s all above board. Unlike offshore sites, legal operators like BetMGM are licensed by the Alcohol and Gaming Commission of Ontario (AGCO), meaning player protections, tax revenue, and jobs stay here.
The numbers don’t lie. Digital gambling is quietly becoming one of Ontario’s most lucrative digital exports.
Healthcare and Biotech
Ontario’s healthcare system is expanding because of necessity.
The sector is being driven forward by an aging population, a rise in urban populations, and a growing focus on public health. According to the Ministry of Health, the province will invest over $48 billion in hospitals, digital health systems, and long-term care homes between 2024 and 2027.
But it’s not just beds and buildings. Biotech is booming. The MaRS Discovery District in Toronto has become a launchpad for biotech startups tackling everything from chronic disease management to cell therapy.
This isn’t slow, bureaucratic growth. It’s venture-backed, research-fueled, and moving fast.
Clean Energy and Nuclear
Here’s where Ontario’s growth gets ambitious.
The province is doubling on clean energy, and nuclear is its cornerstone. Ontario Power Generation is building North America’s first grid-scale small modular reactor (SMR) at the Darlington site. This $3 billion project aims to be completed by 2028.
Why nuclear? Because electricity demand is projected to spike by 75% by 2050. Wind and solar are expanding too, but Ontario is focusing on stability, scalability, and job creation. BWXT Canada, a major nuclear components supplier, announced a major facility expansion in Cambridge, adding over 200 jobs in 2025 alone.
Growth Today Doesn’t Look the Same
Ontario isn’t betting on old formulas. It’s betting on emerging sectors like data science, clean energy, regenerative medicine, and iGaming. These industries are built for the world ahead, not the one behind. It’s not always flashy. But it’s real. It’s targeted. Most importantly, it’s working. The province is backing sectors that offer resilience, innovation, and long-term impact, not short-term hype. Tune in if you’re a job seeker, investor, or policymaker. These industries aren’t just shaping Ontario’s future; they’re rewriting what economic growth means for Canada in a decade that demands smarter bets.
