Funding will help the Atlantic Canada–based supercluster create more than 3,000 jobs over 10 years
ST. JOHN'S, Nov. 16, 2018 /CNW/ - The Government of Canada is committed to growing the economy, creating good jobs and keeping Canada competitive. That is why the Government is bringing together small, medium-sized and large companies, academic institutions and not-for-profit organizations to generate bold ideas under the Innovation Superclusters Initiative.
Today, the Honourable Seamus O'Regan, Minister of Veterans Affairs and Associate Minister of National Defence, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced the signing of an agreement to invest up to nearly $153 million, matched dollar for dollar by the private sector, in the Atlantic Canada–based Ocean Supercluster, a group of businesses, post-secondary institutions and non-profits working together to accelerate innovation and sustainable economic growth from Canada's oceans. Minister O'Regan made the announcement at Rutter in St. John's, one of the participants in the Ocean Supercluster.
The funding agreement means the supercluster can move forward with activities to harness emerging technologies to strengthen Canada's ocean industries such as marine renewable energy, fisheries, aquaculture, oil and gas, defence, shipbuilding and transportation. It is projected that this supercluster will create more than 3,000 jobs and add more than $14 billion to Canada's economy over 10 years.
The Innovation Superclusters Initiative is a centrepiece of the Government of Canada's Innovation and Skills Plan, a multi-year strategy to prepare Canada for the innovative jobs of today and tomorrow.
"The Ocean Supercluster is bringing together key players in Canada's ocean economy and uniting them in a common innovative vision for sustainable growth. By bringing together small, medium-sized and large companies, academic institutions and not-for-profit organizations, we're making connections and stimulating innovation that will create thousands of middle-class jobs and grow the economy."»
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"The Ocean Supercluster shows the world the incredible innovation happening right here in Newfoundland and Labrador. This private sector–led initiative is an investment of over $300 million with dozens of companies creating thousands of jobs and adding over $14 billion to Canada's economy in the next 10 years. By bringing our ocean industries together, we're building on our strengths and doing what we do best."
- The Honourable Seamus O'Regan, Minister of Veterans Affairs and Associate Minister of National Defence
"We are incredibly excited to have the contribution agreement signed and are eager to enter a new stage of the Ocean Supercluster. The team remains very focused on building our project pipeline and identifying cluster building activities. This is an incredible opportunity for the region and the country to sustainably grow the ocean economy."
- Kendra MacDonald, CEO, Ocean Supercluster
- Superclusters are dense areas of business activity where many middle-class jobs are created. They attract large and small companies that collaborate with universities, colleges and not-for-profit organizations to turn ideas into solutions that can be brought to market.
- The Innovation Superclusters Initiative is projected to create more than 50,000 jobs and grow Canada's GDP by more than $50 billion over the next 10 years.
- Canada's five superclusters—the Digital Technology Supercluster, the Protein Industries Canada Supercluster, the Next Generation Manufacturing Supercluster (NGen), the AI-Powered Supply Chains Supercluster (SCALE AI) and the Ocean Supercluster—offer ongoing opportunities for collaboration to individuals, businesses and post-secondary institutions across the country.
- Together the five superclusters represent more than 450 businesses, 60 post-secondary institutions and 180 other participants in sectors covering 78 percent of Canada's economy.
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SOURCE Innovation, Science and Economic Development Canada
For further information: Dani Keenan, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500; Media Relations, Innovation, Science and Economic Development Canada, [email protected], 343-291-1777