Ontario will establish a $650-million fund to entice companies to develop and manufacture clean cars and other products in the province, Premier Dalton McGuinty announced Tuesday as part of his pre-election environment plan.

The five-year Next Generation Jobs Fund will be available to entrepreneurs or innovators for the development and manufacturing of low-emission vehicles, clean fuels and other clean products.

"Someone out there is bound to make a lot of money [on green products]," McGuinty told a crowd gathered at the General Motors complex in Oshawa. "We want that money. We want those jobs and we want them here in Ontario."

McGuinty says it's an opportunity for the province to find innovative ways to conserve energy and fight climate change. He said it will not only help the province reach its greenhouse gas emission reduction targets, but also establish the province as a global leader in the emerging market for environmentally friendly products.

In another environmental announcement Monday, McGuinty outlined the Liberal party's plan to reduce greenhouse gas emissions to six per cent below 1990 levels by 2014.

The plan relies on the shutdown of the province's coal-fired power plants to reach the target's halfway mark.