Government of Canada Launches Next Phase of Canada's Economic Action Plan, Strengthening Canada's Research Advantage

KITCHENER, ONTARIO--(Marketwire - March 23, 2011) - The Honourable Gary Goodyear, Minister of State (Science and Technology) (Federal Economic Development Agency for Southern Ontario) today addressed the Greater Kitchener–Waterloo Chamber of Commerce, highlighting the government's commitments in Budget 2011 to strengthen Canada's research advantage.

One of the most significant science and technology investments of Budget 2011 is aimed directly at southern Ontario and specifically at Kitchener–Waterloo. The Budget provides $50 million over five years, beginning in 2012–13, to the Perimeter Institute for Theoretical Physics to support its leading research, education and public outreach activities. Federal funding for this initiative will be matched by resources raised from the Institute's other partners.

"In the next phase of Canada's Economic Action Plan, we will invest in innovation, training and education," said Minister of State Goodyear. "We want to ensure we attract the sources of future global growth and help Canadians secure high-wage knowledge jobs in the economy of tomorrow."

Among the other investments in science, technology and innovation are:

• providing $80 million in new funding over three years through National Research Council Canada's Industrial Research Assistance Program to help small and medium-sized businesses accelerate their adoption of key information and communications technologies through collaborative projects with colleges;

• establishing 10 new Canada Excellence Research Chairs, some of which will be active in fields relevant to Canada's digital economy strategy;

• increasing the budgets of all three federal granting councils by $37 million annually as well as providing $10 million in annual support for indirect costs of research;

• providing an additional $65 million to Genome Canada to launch a new competition in the area of human health and sustain the operating costs of Genome Canada and Genome Centres until 2013–14.

For more information on Budget 2011, The Next Phase of Canada's Economic Action Plan, please visit the Budget 2011 website (www.budget.gc.ca).