Harper Government to Help Canadian Businesses Become Innovation Leaders

LONDON, ONTARIO--(Marketwire - April 4, 2012) - The success of CS Automotive Tubing Inc. and the government's plan for innovation in Economic Action Plan 2012 were highlighted today by the Honourable Gary Goodyear, Minister of State for Science and Technology, while delivering remarks at the Convergence Centre at the University of Western Ontario Research Park and touring the facilities at CS Automotive Tubing Inc.

"The Government of Canada is committed to taking innovative ideas into the marketplace where they can generate jobs, growth and prosperity," said Minister of State Goodyear. "That's why we have made new investments to support leading-edge research and international collaboration."

Increasing business investment in research and development is crucial to Canada's long-term competitiveness, and programs such as National Research Council Canada's Industrial Research Assistance Program (NRC-IRAP) are helping businesses innovate.

An NRC-IRAP funding recipient, CS Automotive Tubing Inc., founded in 2007, is a leading manufacturer of stainless steel tubing with high corrosion resistance for automotive exhaust and fuel systems. Upon its inception, CS Automotive Tubing Inc. had two employees; today it employs 28 people in London.

Support for science and technology (S&T) has been a government priority since 2006, as exemplified by the introduction of the S&T Strategy in 2007 and the series of initiatives to build an innovative economy that followed. Federal S&T expenditures reached nearly $11.9 billion in 2010-11.

In Economic Action Plan 2012, our government announced that $1.1 billion over five years will go to supporting business innovation and $500 million for venture capital. These investments and actions keep our economy strong, create high-quality jobs and ensure that Canada is a premier destination for the world's brightest minds.

To learn more about Economic Action Plan 2012, please visit the www.budget.gc.ca.

To learn more about the Government of Canada's S&T initiatives, visit the Science and Technology for Canadians website (www.science.gc.ca).