RICHMOND, BRITISH COLUMBIA--(Marketwire - March 28, 2013) - While highlighting the Harper Government's support for the manufacturing sector in Economic Action Plan 2013, the Honourable Kerry-Lynne Findlay, Q.C., Associate Minister of National Defence and Member of Parliament for Delta-Richmond East, today announced a repayable contribution of $13.3 million to British Columbia's Norsat International Inc. The contribution, being made through the Strategic Aerospace and Defence Initiative (SADI), will support a research and development project aimed at improving the company's line of satellite terminals, microwave components and radio frequency antennas.
"Job creation and economic growth remain our government's top priorities, and we recognize that the manufacturing industry is more important than ever to our region's long-term prosperity," said Minister Findlay. "This repayable contribution will allow Norsat to broaden its research capacity and maintain its leadership position in the industry while fostering collaboration with university researchers."
Economic Action Plan 2013 includes a number of measures to further help Canada's manufacturers grow, stay competitive and create jobs, including:
- Tax relief for new manufacturing machinery and equipment by extending the accelerated capital cost allowance for two years, increasing support for manufacturers by almost $1.4 billion.
- Improved support for Canada's aerospace industry by investing almost $1 billion in SADI to ensure it continues to meet the needs of the industry.
- Support for large-scale technology projects exhibiting strong commercial potential and promotion of cross-industry collaboration by creating the Aerospace Technology Demonstration Program with an investment of $110 million over four years, beginning in 2014-15, and $55 million each year thereafter.
Norsat is a major provider of broadband communications products for data transmission in remote and austere environments. The company will use the Harper Government's contribution to design a new set of satellite terminals and microwave components.
Over the past four years, the Harper Government has committed more than $890 million through SADI to fund 29 advanced research and development projects. For more information on the program, please visit the SADI website (www.ic.gc.ca/eic/site/ito-oti.nsf/eng/h_00022.html).