$49 million will help Linamar Corporation's advancements in AI and advanced manufacturing
GUELPH, ON, Jan. 15, 2018 /CNW/ - The Government of Canada is maintaining and creating well-paying middle-class jobs, economic growth and long-term prosperity by investing in Canada's automotive manufacturing sector, and this support is also ensuring that the sector remains globally competitive and innovative.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced an investment of $49 million in automotive parts manufacturer Linamar Corporation. Minister Bains was joined by the Honorable Brad Duguid, Ontario's Minister of Economic Development and Growth, and Lloyd Longfield, Member of Parliament for Guelph.
Minister Bains made the announcement before heading to the North American International Auto Show in Detroit, Michigan, where he will meet with global and Canadian executives to discuss Canada's important role in North America's auto industry.
The funding will help create 1,500 new Canadian jobs and maintain more than 8,000 by supporting advanced manufacturing processes—including artificial intelligence and 3D printing—and cleaner automotive technologies. Canadians will directly benefit from these advancements through more efficient, environmentally friendly vehicles. Linamar will also open a new innovation centre in Guelph, Ontario, dedicated entirely to research and development.
The federal government is supporting innovation in the auto industry and is committed to attracting investment in this important sector of the economy. Canada is uniquely positioned to be the home for the design, development and manufacturing of the car of the future. To secure this place, the government is investing in the technology, talent and infrastructure needed to shape the future of mobility.
This is the first project announced under the Strategic Innovation Fund, a new program to attract and support high-quality business investments across all sectors of the economy.
"Our government is investing in automotive innovation, one of Canada's leading sectors. This investment will create and maintain middle-class jobs in southern Ontario and drive economic growth in the area. Investing in these projects also means that Canadian manufacturers can remain globally competitive and leaders in technological advancements."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"Ontario's auto industry continues to attract investment, which proves our foundational strength when it comes to building and developing new vehicles. Partnerships like this one support our long-term competiveness and help Ontario continue to lead the way in transformative vehicle technologies."
– The Honourable Brad Duguid, Ontario's Minister of Economic Development and Growth
"Guelph and Linamar together play a key role in Canada's auto industry. With continued innovation, Linamar will continue to support thousands of well-paying middle-class jobs in our community."
– Lloyd Longfield, Member of Parliament for Guelph
"We are thrilled by the support shown today by both our federal and provincial governments for our significant investment in innovation. Innovation is the single most important thing we can do in terms of product design, process design and material development to solve global problems and create opportunities for us all to succeed. To have our government support us in that endeavour is fantastic, further cementing the fact that Canada is a great place for advanced manufacturing to thrive."
– Linda Hasenfratz, CEO, Linamar Corporation
- Linamar Corporation employs more than 25,700 people worldwide, with more than 9,300 in Canada.
- Linamar has 59 manufacturing locations, 6 R&D centres and 21 sales offices in 17 countries in North and South America, Europe and Asia. Linamar generated sales of $6.0 billion in 2016.
- Canada's auto sector employs over half a million Canadians, and for every assembly job, six spinoff jobs are created. There are close to 700 automotive parts suppliers operating in Canada.
- The Strategic Innovation Fund is a flexible program that reflects the diversity of innovation in all sectors of the economy.
Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA
SOURCE Innovation, Science and Economic Development Canada
For further information: Karl W. Sasseville, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]