Excerpts from the Federal Budget released April 21, 2015 of importance to North Simcoe industry
Supporting the Manufacturing Sector and Investing in Advanced Research
Economic Action Plan 2015 proposes to provide $100 million over five years, starting in 2015-16, for the creation of the Automotive Supplier Innovation Program, to help Canadian automotive suppliers gain a competitive edge through new innovative products and processes.
Developing the Canadian Aerospace Supply Chain
Canada’s aerospace sector is a global technology leader and a major source of high quality jobs, directly employing 73,000 people across the country, and is among the most research-intensive industries in Canada.
Economic Action Plan 2015 announces that the Government will work with industry and provincial stakeholders to develop a national aerospace supplier development initiative modelled on the successful MACH program pioneered by Aéro Montréal.
Funding announcements include:
- Making available $110 million over four years, beginning in 2014–15, and $55 million annually thereafter, for the creation of a Technology Demonstration Program, to be partly funded from the Strategic Aerospace and Defence Initiative.
- Launching the Consortium for Aerospace Research and Innovation in Canada to facilitate collaboration among aerospace stakeholders (industry, academia and research centres) to foster the development of advanced technologies, support the training of highly qualified personnel and support innovation outreach.
See the sypnosis “Creating Jobs and Growth in Industry and Innovation”
See the full 2015 Budget.