Subjects: ECO, CFG
Federal government stimulating economic growth and supporting more than 2,600 middle-class jobs in Canada's automotive sector
11 companies in Ontario, Quebec and British Columbia receiving $41 million to advance automotive tech
WINDSOR, ON, Jan. 17, 2018 /CNW/ - The Government of Canada is creating well-paying, middle-class jobs and supporting long-term economic prosperity by investing in Canada's automotive manufacturing sector.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced an investment of $41 million from the Strategic Innovation Fund to create or maintain over 2,600 jobs in Canada's automotive sector. The funding was announced at Lakeside Plastics near Windsor, Ontario, which will benefit from a $1-million investment that will contribute to creating 60 new skilled jobs. The company is one of 11 recipient companies located in Ontario, Quebec and British Columbia.
The funding will support advancements in automotive technologies to develop safer vehicles that are more fuel-efficient and environmentally friendly.
This investment is made through the Strategic Innovation Fund, a new program to attract and support high-quality business investments across all sectors of the economy.
Quote
"To get to the cars of the future, we have to start today! Our government is supporting Canada's strong and vibrant automotive sector and the middle-class Canadians who are employed in it. Fostering automotive technology is essential to the Canadian economy, and we will continue to make Canada a global centre for talent, innovation and technological advancements. We're creating safer, more environmentally friendly vehicles, and that's good for all Canadians."
? The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"We are proud of the work we do here at Lakeside Plastics, and we are continuing to push the envelope and innovate to help supply the automotive industry with high-quality products. I want to thank the Government of Canada for its support, which is helping us create jobs, improve our processes and continue producing world-class quality products."
- Dana Leavitt, CEO, Lakeside Plastics Limited
Quick facts
- The automotive manufacturing sector contributes $19 billion to Canada's gross domestic product.
- The Canadian automotive sector is one of Canada's largest manufacturing sectors. It employs over 530,000 people directly and indirectly, and for every job created on an assembly line, six additional jobs are created in other sectors of the economy.
- Canada's automotive industry produces more than 2.4 million vehicles every year. This translates into one car being manufactured every 13 seconds.
- The Strategic Innovation Fund is a flexible program that reflects the diversity of innovation in all sectors of the economy.
Associated links
Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA
SOURCE Innovation, Science and Economic Development Canada
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