Investment will establish advanced manufacturing capabilities and create high-quality jobs in Canada
Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario, announced a federal investment of $195 million, through the Strategic Response Fund, in Xanadu Quantum Technologies' $893 million project to expand its research and development facility and establish advanced manufacturing capabilities in Canada.
Canada is building the capacity to compete in the industries of the future. This project will create 275 high-quality jobs and add the specialized facilities needed to develop, manufacture and commercialize quantum technologies in Canada. It will also support partnerships with Canadian research institutions and small and medium-sized businesses, helping turn more Canadian ideas into Canadian products and jobs.
Quantum technologies have the potential to transform a number of industries, including cybersecurity and defence, health care, energy and logistics. At a time when the global economy is undergoing profound change, the Government of Canada is investing strategically to harness these technologies to create jobs, protect Canadians and strengthen our industries. Today's investment advances key initiatives under Canada's new Defence Industrial Strategy and National Quantum Strategy by strengthening domestic capacity in technologies that are critical to Canada's future prosperity, security and sovereignty.
