To kickstart the upcoming Defence Industrial Strategy the government today announced the Regional Defence Investment Initiative with $337.7 million in funding.
The government characterized the funding as “as an early move” and that this is “one of the first steps the government is making to ensure the forthcoming defence industrial strategy will take root and give rise to the kinds of jobs and industries that will protect our economy, power the Canadian Armed Forces and assert our sovereignty.”
The funds are meant for regional development and will be deployed through Regional Development Agencies to ensure growth across all regions of Canada (Atlantic, Quebec, Northern, Southern Ontario, Prairies, and Pacific). The government said that “growing our defence industrial capacity across every region of our country is how we build a strong Canada.”
Minister of National David J. McGuinty said, “A secure Canada depends on a defence industry that is innovative, resilient, and ready. With these investments, we are strengthening our supply chains, accelerating cutting-edge technologies, and giving Canadian businesses the tools they need to support the CAF. This is about protecting our sovereignty, fueling economic growth, and ensuring Canada is never caught unprepared.”
The announcement highlights a coordinated effort across various portfolios, featuring quotes from several minsters. Notably, Sean Fraser, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency was the only minister to provide a regional funding amount saying, “We are investing nearly $40 million to help Atlantic Canada’s defence businesses grow, modernize, and win more global contracts. That investment stays here in the region and strengthens Canada’s defence capacity.”