CAMBRIDGE, ONTARIO -- (Marketwired) -- 10/03/14 -- Industry Canada
Industry Minister James Moore today toured the state-of-the-art automotive assembly plant of Toyota Motor Manufacturing Canada and met with business leaders and workers to discuss the strengths of Canada's manufacturing sector and their vision for its future.
The meeting was the first of several that the Minister will have during National Manufacturing Month, an effort hosted by Canadian Manufacturers & Exporters to raise awareness among Canadians about manufacturing's economic and social impact. Throughout the fall, the Minister will meet with business leaders to learn more about the industry's opportunities for growth. They will talk about issues that influence companies' competitiveness-at home and abroad-and how government and business can position the sector for continued success in the future.
Today, the Minister emphasized the importance of manufacturers to the Canadian economy, citing the impressive fact that manufacturing employs close to 1.7 million people in a high-tech, high-skill sector. It is one of Canada's largest business industries.
Quick facts
-- Canada's automotive industry is a key sector in the Canadian economy,
representing 10 percent of our manufacturing GDP.
-- It directly employs over 117,000 Canadians and another 377,000
indirectly, including a sophisticated supply chain of over 730
companies.
-- Canada's manufacturing sales have bounced back and are up more than 25
percent since the recession.
-- In July 2014, Canada posted its largest trade surplus in nearly six
years, which was driven by surging auto exports that had a 9.7-percent
increase in motor vehicle and parts exports and a 10.2-percent increase
in passenger car exports. This was the biggest one-month advance in
eight months.
-- Toyota Motor Manufacturing Canada is an important contributor to the
local economies of Cambridge and Woodstock as well as to those of
Ontario and Canada.
-- Toyota's Cambridge plant produces the Lexus RX 450h, a sports utility
vehicle that was the first Lexus hybrid built outside of Japan. Toyota
received a repayable federal contribution through the Automotive
Innovation Fund in association with this project.
-- In Budget 2014, the Government announced an additional $500 million over
two years to the Automotive Innovation Fund to support significant new
strategic research and development projects and long-term investments in
the Canadian automotive sector.
-- The nature of manufacturing is evolving. Canada faces heightened
competition from advanced and emerging economies. The Advanced
Manufacturing Fund will contribute directly to an innovative and
sustainable manufacturing base that will continue to be an important
economic driver for prosperity.
-- A key part of supporting manufacturers is ensuring that they have global
markets for the goods they produce. Through its Global Commerce
Strategy, the government concluded seven different free trade pacts with
37 countries. It has also concluded or implemented foreign investment
promotion and protection agreements with 22 countries and continues to
deepen trade ties with the largest, most dynamic markets in the world.
-- Canada's two most recent trade agreements, the Canada-European Union
Comprehensive Economic and Trade Agreement (CETA) and the Canada-Korea
Free Trade Agreement, promise to add at least $14 billion annually in
new economic activity, equivalent to creating more than 90,000 new jobs.
-- Since 2006, Canada has gone from having free trade agreements with only
five countries to now having free trade agreements in force, or being
finalized, with 43 countries around the world.
-- Both the International Monetary Fund (IMF) and the Organisation for
Economic Co-operation and Development (OECD) expect Canada to be among
the strongest growing economies in the G7 over this year and next.
-- In 2013, Canada leapt from sixth to second place in Bloomberg's ranking
of the most attractive destinations for business.
-- According to KPMG, total business tax costs in Canada are the lowest in
the G7.
Quotes
"Canada's automotive industry contributes more than 117,000 direct and 377,000 indirect high-skilled jobs to the economy every year. To ensure the industry remains strong, our government has kept taxes low, reduced red tape and promoted trade abroad and skills training at home-all of which are necessary conditions for job and economic growth. I was pleased to meet with leaders and workers at Toyota today to learn how the company benefits from Canada's highly skilled labour force, well-developed infrastructure, access to key export markets, advanced supplier base and support for R&D. Canada continues to be a leading nation for automotive manufacturing. It is a great place to build cars."
- James Moore, Minister of Industry
"It is a pleasure to welcome Minister Moore to the Cambridge area to see the impressive contributions Toyota is making to the community. This industry-leading plant reflects both the skills of our workers and Toyota's commitment to Canada. Our highly skilled people, our attractive tax regime and our connection to international markets make Canada one of the best places in the world for manufacturing, now and into the future. Through programs such as the Advanced Manufacturing Fund, our government is supporting increased innovation and productivity by investing in new and innovative products or production methods."
- Gary Goodyear, Minister of State (Federal Economic Development Agency for Southern Ontario) and Member of Parliament for Cambridge
"Through the process of manufacturing, we develop people, generate wealth and contribute to our community. The quality, innovation and engagement of our team members have defined our success here in Canada as the most awarded automotive plant in North and South America."
- Ray Tanguay, Chairman, Toyota Motor Manufacturing Canada
Related product
-- Canadian Manufacturing Sector Gateway
Associated link
-- Automotive Innovation Fund
Follow us on Twitter: @industrycanada
Contacts:
Jake Enwright
Press Secretary
Office of the Minister of Industry
613-995-9001
Media Relations
Industry Canada
613-943-2502
media-relations@ic.gc.ca
