Northern Ontario businesses are being empowered to take advantage of opportunities in the defence industry supply chain thanks to a Government of Canada investment of $785,740. The FedNor funding will enable the Sault Ste. Marie Economic Development Corporation (SSMEDC), on behalf of Ontario North Economic Development Corporation (ONEDC), to undertake a three-year pilot project to assist companies and SMEs compete for lucrative defence-related contracts and work.
The announcement was made today by Terry Sheehan, Member of Parliament for Sault Ste. Marie, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor.
“I’m proud our government is investing in the SSMEDC to help it spearhead this project on behalf of the five large cities in Northern Ontario. This investment will support Northern Ontario companies by helping them compete for lucrative defence sector contracts, leading to additional job creation and diversification throughout the entire region.” said, Terry Sheehan, Member of Parliament for Sault Ste. Marie
As part of the project, the SSMEDC will hire a project manager and a coordinator to provide technical support to companies in their bid preparation and certification efforts, as well as to develop and host workshops to raise awareness of opportunities, and develop a recruitment and retention strategy for businesses and innovation stakeholders in the defence industry. This project dovetails with the Government of Canada’s Industrial and Technological Benefits (ITB) Policy, which encourages companies to establish or grow their presence in Canada, strengthen Canadian supply chains, and develop Canadian industrial capabilities in areas such as innovation, research and development, supplier development, and exports.
“The Government of Canada’s Industrial and Technological Benefits Policy helps innovative companies create high-skilled, well-paying middle-class jobs for Canadians. By partnering with organizations like Northern Ontario’s economic development corporations, we are leveraging investments in the Canadian defence industry to drive community and small business growth, and strengthen our economy.” added, The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor
“The ITB Policy opens a window of opportunity to meet with multinational companies that are part of global supply chains, not just in defence but in a number of other commercial and industrial sectors. Thanks to this investment from FedNor, we will help Northern Ontario SMEs and companies to prepare and compete in this demanding industry.” said , Terry Rainone, President, Sault Ste. Marie Economic Development Corporation
- Since 2015, our government has approved FedNor investments throughout the Riding of Sault Ste. Marie, totalling more than $16.5 million in support of 37 projects.
- Sault Ste. Marie based Algoma Steel was recently selected competitively to provide the steel plates on the new joint support ships being constructed for the Royal Canadian Navy. https://nss.seaspan.com/featured-news/ontario-companyagoma-to-provide-steel-for-the-joint-support-ships/
- The Canadian defence industry comprises more than 660 firms that generate $10 billion in sales and contribute close to 60,000 jobs for Canadians. These companies include large Canadian-owned firms, Canada-based subsidiaries of large multinational companies, and many small and medium-sized businesses in Canada that employ highly skilled workers in high-quality jobs.