Federal Economic Development Agency for Southern Ontario

Federal Economic Development Agency for Southern Ontario

April 09, 2014 09:01 ET

Minister Goodyear Highlights How Ontario Companies Will Benefit from Defence Procurement Improvements

TORONTO, ONTARIO--(Marketwired - April 9, 2014) - Federal Economic Development Agency for Southern Ontario
(FedDev Ontario)

Today, FedDev Ontario Minister of State Gary Goodyear highlighted important steps taken by the Government of Canada to ensure that defence procurement benefits the Canadian economy at the "Made in Canada: Technology in Defence, Aerospace and Space" business development session.

Minister Goodyear spoke about the new Defence Procurement Strategy, launched in February by National Defence Minister Rob Nicholson and Public Works and Government Services Minister Diane Finley, which has three key objectives: delivering the right equipment to the Canadian Armed Forces and the Canadian Coast Guard in a timely manner; leveraging purchases of defence equipment to create jobs and economic growth in Canada; and streamlining defence procurement processes.

In his speech, Minister Goodyear stressed the important role that FedDev Ontario plays in engaging southern Ontario's innovative and technology-based companies in defence procurement activities. FedDev Ontario has brought together companies and organizations who may have never met before, fostering partnerships that are now benefiting all those involved.

As an investor, FedDev Ontario's suite of funding initiatives is available to help support innovative and globally oriented businesses in all industries, including defence and aerospace.

Quick Facts

  • Ontario has more than 200 aerospace firms, employing 17,000 highly skilled workers and selling approximately $5.3 billion annually.
  • Canada's new Defence Procurement Strategy will encourage the competitiveness of Canadian firms domestically and internationally.
  • Defence procurement spending has significant potential to produce substantial spin-off benefits to Canada's knowledge, innovation and export-based economy.

Quotes

"Our Government wants to help ensure that money spent on major defence contracts is reinvested in the Canadian economy. I believe the new Defence Procurement Strategy will help companies build relationships with prime contractors and also help bring made-in-Canada products to global markets."

Gary Goodyear, Minister of State for FedDev Ontario

Related Products

Speaking Notes for Made in Canada: Technology in Defence, Aerospace and Space

Associated Links

Defence Procurement Strategy

FedDev Ontario Funding Initiatives

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