Rural Economic Development Minister in Windsor to meet stakeholders to discuss how recent $37.5-million investment will impact the Annapolis Valley community
WINDSOR, NS, March 6, 2019 /CNW/ - Canada has a proud history of advancing new medical discoveries that improve the health and quality of life of millions of Canadians. That is why the Government of Canada is making smart investments to help improve the quality and effectiveness of medical treatments, promote innovation in life sciences, and create more jobs for hard-working Canadians.
Today, the Honourable Bernadette Jordan, Minister of Rural Economic Development, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, is co-hosting a roundtable with BioVectra, a company that manufactures pharmaceutical ingredients used to produce treatments for serious illnesses. BioVectra recently received a $37.5-million investment through the Strategic Innovation Fund, and the roundtable with key stakeholders will discuss how to maximize the opportunities this investment will create for rural jobs in Nova Scotia.
The funding will help BioVectra create at least 110 jobs in Windsor, Nova Scotia, by supporting the company's $144.6-million project to expand its facilities in both Windsor and Charlottetown, Prince Edward Island. The company will also create at least 40 jobs in Charlottetown and maintain 300 jobs across both facilities. The project will increase manufacturing capacity and support the research and development of advanced pharmaceutical products not currently manufactured in Canada.
The new facilities will help increase BioVectra's contribution to medicine production capacity. In addition, these facilities will be built with zero-emission construction materials to reduce their impact on the environment. The investment will help the company improve collaboration with Canadian universities, colleges and research institutions, establish annual scholarships for women and Indigenous students, and support annual student hiring in the pharmaceutical industry in Canada.
These commitments support not only the Innovation and Skills Plan but also the Health/Bio-sciences Economic Strategy Table's aim to position Canada as a global leader in this sector through sustainable growth driven by collaboration among health/bio-sciences companies and partners.
Quotes
"Our investment in BioVectra's project is helping to create a more environmentally friendly process for pharmaceutical manufacturing. BioVectra's project will drive innovation in the biologics industry, furthering Atlantic Canada's position as a world leader in the biotechnology cluster. This investment will help the company to scale up and create good jobs in Nova Scotia and Prince Edward Island."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"We're proud to be a partner with BioVectra in creating well-paying jobs here in the Maritimes. This funding will allow BioVectra to expand its manufacturing capacity and start research and development of advanced pharmaceutical products not currently manufactured in Canada, helping to position the Maritimes as an innovative hub for these products that save lives."
– The Honourable Bernadette Jordan, Minister of Rural Economic Development
"BioVectra, with support from the Government of Canada, is making a difference in Atlantic Canada as we continue to grow our operations. This exciting expansion project will help us meet the needs of our global client base and propel us toward being a top-tier player in the field of biologics, where many therapies are advancing rapidly, changing the way healthcare is delivered."
– Heather Delage, General Manager, BioVectra's Windsor site
Quick facts
- Based in Charlottetown, BioVectra is the oldest and largest biotechnology firm in Atlantic Canada. The company's four internationally accredited facilities (three in Prince Edward Island and one in Nova Scotia) employ 300 people.
- Canada's life sciences sector consists of about 900 firms; accounts for over $7.8 billion in GDP, $13 billion in exports and $1.9 billion in research and development; and employs over 90,000 people, mostly highly skilled and qualified personnel.
- This investment is being made through the Strategic Innovation Fund, a program designed to attract and support high-quality business investments across all sectors of the economy by encouraging R&D that will accelerate technology transfer and the commercialization of innovative products, processes and services and will facilitate the growth of innovative firms.
- In addition to the Strategic Innovation Fund, there are hundreds of programs and services to help businesses innovate, create jobs and grow Canada's economy. With a simple, story-based user interface, the Innovation Canada platform can match businesses with the most fitting programs and services in about two minutes.
Associated link
Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA
SOURCE Innovation, Science and Economic Development Canada
For further information: Dani Keenan, Press Secretary, Office of the Minister of Innovation, Science, and Economic Development, 343-291-1710; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]
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