Winnipeg, Manitoba - PrairiesCan
Canada is poised to be a world leader in the economy of tomorrow and benefit from renewed economic growth. The Government of Canada is making decisions today that will attract more investment in industries that are creating good middle-class jobs for Canadians.
Today, the Honourable Daniel Vandal, Minister for PrairiesCan, Minister of Northern Affairs, and Minister for CanNor, announced a $2.9 million investment in the Vehicle Technology Centre through PrairiesCan. This investment will have a direct impact on research and development in Manitoba's heavy vehicle and equipment sector. It will assist manufacturers in the transition to zero emission propulsion and the advanced digital initiatives needed for low-volume high-value manufacturing.
Minister Vandal further highlighted significant and transformative steps in Budget 2022 to put Canada on the path to reach net-zero emissions by 2050, while making it easier for Canadian businesses to innovate and become global leaders in industries that grow our economy and generate new jobs.
Speaking at New Flyer Industries in Winnipeg, Minister Vandal focused on two Budget 2022 measures:
- establishing the new Canada Growth Fund to attract private sector investments, help businesses reduce emissions, diversify our economy, and bolster exports by investing in the growth of low-carbon industries and new technologies across new and traditional sectors. Initially capitalized at $15 billion, the Canada Growth Fund will target three dollars of private capital for every dollar invested.
- creating an operationally independent federal innovation and investment agency, with initial funding of $1 billion, to help new and established Canadian industries and businesses make the investments they need to innovate, grow, create jobs, and be competitive in the changing global economy.
