Media Release – July 25, 2016 – Sarnia, Ontario – 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 Bioindustrial Innovation Canada 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 Innovation Agenda 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 Investing in Regional Diversification initiative, 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.
Quotes
“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.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario
“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.”
– Sandy Marshall, Executive Director, Bioindustrial Innovation Canada
Quick Facts
- Through this project, BIC expects to form 250 new collaborations, support 20 industry organizations and post-secondary institutions, 150 businesses. BIC also expects to support 15 businesses through the Commercialization Fund.
- The project is expected to create 126 permanent full-time equivalent jobs and 352 temporary jobs by 2018. It will leverage about $14.5 million from the Government of Ontario, the private sector, not-for-profit organizations as well as universities and colleges.
- Companies that benefit from the Commercialization Fund qualify for repayable contributions of up to $500,000. Approved recipients have access to BIC’s shared administrative services, which reduce overhead costs.
- Established in 2008, BIC is a not-for-profit organization with a mandate to support economic development by helping the region become globally recognized leaders in sustainable chemistry.
- Since 2009, BIC has invested $5.5 million in 13 small- and medium-sized businesses in the Sarnia-Lambton region, including BioAmber Inc., an anchor firm of the region’s sustainable chemistry and bio-based manufacturing sector.
Associated Links
Contacts
Media Relations
FedDev Ontario
416-954-6652
fdo.mediarel-relmedias.fdo@canada.ca
Toll Free: 1-866-593-5505
Website: www.FedDevOntario.gc.ca