Minister Goodyear Highlights Role of Innovation in Southern Ontario's Economic Prosperity

TORONTO, ONTARIO--(Marketwired - Nov. 26, 2013) - The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), today highlighted the important role of innovation in ensuring Canadians have access to a high quality of life, and restoring southern Ontario to economic prosperity.

Minister Goodyear was speaking at the Ivey Global Health Conference 2013 in Toronto.

"Now more than ever we need to invest in innovative health care and preventative measures," said Minister of State Goodyear. "We are committed to ensuring companies and organizations in southern Ontario's health care sector have the tools they need to develop new ideas, innovations and approaches that have the capability to bring long-term benefits for the people, businesses and communities of our region."

The Minister noted FedDev Ontario has made significant progress in creating jobs and growing the economy since its launch in 2009, and to ensure southern Ontario can continue to prosper, our businesses and workers need to be more innovative and productive, and must strive to access new markets.

Economic Action Plan 2013 demonstrated continued commitment to workers, families and communities in southern Ontario with the renewal of FedDev Ontario, including $920 million in new funding for the Agency over five years. This included $200 million for the new Advanced Manufacturing Fund, starting on April 1, 2014.

The Agency will continue to act as a champion for the region by supporting the development of a prosperous and globally competitive southern Ontario economy.

Details of new programming will be posted on the Agency's website at www.FedDevOntario.gc.ca as they become available, so stakeholders are encouraged to check back regularly.

IF THERE IS A DISCREPANCY BETWEEN ANY PRINTED VERSION AND THE ELECTRONIC VERSION OF THIS NEWS RELEASE, THE ELECTRONIC VERSION WILL PREVAIL.

This news release is available online at: www.FedDevOntario.gc.ca.