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Government of Canada Invests $12M to Support Bio-Based Innovation in Sarnia

ID: 1448708
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(businesspress24) - SARNIA, ONTARIO -- (Marketwired) -- 07/25/16 -- Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

Residents of the Sarnia-Lambton region will benefit from more jobs for the middle class - and those working hard to join it - as a result of a $12-million investment to support the sustainable chemistry and bio-based industrial sector.

The investment to by the Government of Canada was announced today by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

The Government''s aims to make Canada a global centre for innovation - one that creates jobs, drives growth across all industries and improves the lives of all Canadians. This investment is a prime example of that vision in action.

The investment is expected to create 478 full-time equivalent jobs and result in 250 new industrial collaborations, especially among small- and medium-sized businesses. The funding will be used to support the Centre for the Commercialization of Sustainable Chemistry Innovations, located at the Western Sarnia-Lambton Research Park. The centre will provide businesses with the help they need to bring new products from final testing to market much faster.

The non-repayable contribution, made through FedDev Ontario''s , will also support a fund to help small and medium-sized businesses access the investment money they need to scale-up their businesses.

It will position the region to transition strategically from an economy based on petrochemicals and refined petroleum to an emerging economy based on clean technologies that emit lower carbon emissions and are more energy-efficient, while also helping to strengthen the region''s middle class.


"The Government of Canada is committed to positioning Canada as a global centre for innovation - one that creates well-paying jobs, drives growth across all industries and improves the lives of all Canadians. Today''s announcement is a prime example of that priority in action. The most innovative solutions often happen when people from different fields collaborate. That''s how the Sarnia-Lambton region will come up with solutions that create a healthy environment, as well as a healthy economy - one that has a promising future in clean and energy efficient technologies that improve the quality of life of all Canadians."

"Bioindustrial Innovation Canada is very pleased with this support from FedDev Ontario. This funding is critical for BIC to achieve its vision to create jobs and economic value sustainably for Canada. Building sectors of innovation is a key strategy for economic development, and this funding allows BIC to effectively support hybrid chemistry cluster development in southern Ontario."

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Date: 07/25/2016 - 14:45
Language: English
News-ID 1448708
Character count: 2854
Firma: Federal Economic Development Agency for Southern Ontario
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