Minister Goodyear Promotes Investment in Southern Ontario at 2013 Best Defence II Conference

LONDON, ONTARIO--(Marketwired - Oct. 3, 2013) - The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), and Susan Truppe, Member of Parliament for London North Centre, were in London today to promote the capabilities of southern Ontario defence and security-related businesses and their role in helping to create jobs and prosperity for the region.

Minister Goodyear was speaking at the Best Defence II Conference, which is held annually by the London Economic Development Corporation as a way to promote the region's defence sector and highlight global opportunities in the defence marketplace.

"The defence sector is an important contributor to the economy of southern Ontario, generating approximately $6.6 billion in annual revenue," said Minister Goodyear. "Our Government is committed to helping ensure companies in southern Ontario are well-positioned to take advantage of defence procurement opportunities. This will bring jobs, growth and long-term prosperity for people, businesses and communities in our region."

"The second annual Best Defence Conference is truly a great event," said MP Truppe. "The Conference, and the great turnout, really highlights the size and importance of the defence industry here in southern Ontario."

The Minister of State noted that southern Ontario companies have capability and expertise in numerous defence-related areas. These include aerospace, land systems, marine systems, information and communications technologies, and overall manufacturing, and that there is immense potential for further growth.

Since its launch in 2009, FedDev Ontario has made significant progress in creating jobs and growing the economy. 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.

Economic Action Plan 2013 provided $920 million for FedDev Ontario over five years, including $200 million for a new Advanced Manufacturing Fund in Ontario, starting on April 1, 2014.

FedDev Ontario will also continue to promote business development, job creation and self-reliant communities in rural eastern Ontario by extending the Eastern Ontario Development Program for five years.

Moving forward, FedDev Ontario 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.

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