OTTAWA, ONTARIO -- (Marketwired) -- 05/30/13 -- The Honourable Christian Paradis, Minister of Industry, today addressed attendees of CANSEC 2013, the largest Canadian defence technology showcase. His remarks underlined the Harper Government's initiatives to help build Canada's competitive advantages as a leading player in the global defence and security industry.
"The Canadian defence and securities sector is a leader in innovation, research and development," said Minister Paradis. "Our government is providing this sector with the tools it needs to bring its competitive products to market and to help create high-quality jobs for Canadians."
During his speech, Minister Paradis discussed the Harper Government's sound economic framework that is contributing to an innovative and competitive manufacturing sector.
"Our government's top priority is jobs, growth and long-term prosperity. We are paying down debt, lowering taxes, reducing red tape for our businesses, expanding trade and promoting skills training," he said.
Measures enabling the sector to grow, compete and continue contributing to Canada's economic growth include the following:
-- Tax relief for new manufacturing machinery and equipment by extending
the accelerated capital cost allowance for two years, increasing support
for manufacturers by almost $1.4 billion.
-- Improved support for Canada's aerospace industry by investing almost $1
billion in the Strategic Aerospace and Defence Initiative to ensure it
continues to meet the needs of the industry.
-- Support for large-scale technology projects exhibiting strong commercial
potential and promotion of cross-industry collaboration by creating a
Technology Demonstration Program with an investment of $110 million over
four years, beginning in 2014-15, and $55 million each year thereafter.
-- Help for small and medium-sized enterprises (SME) by providing
incentives for contractors to meet their Industrial and Regional
Benefits Policy responsibilities by partnering with innovative Canadian
SMEs, building enduring business relationships and fostering high-
quality opportunities that will last years beyond the initial
commitment.
The Honourable Rona Ambrose, Minister of Public Works and Government Services and Minister for Status of Women, and the Honourable Kerry-Lynne Findlay, Associate Minister of National Defence, also participated in the event.
Organized by the Canadian Association of Defence and Security Industries, a not-for-profit association that represents nearly 950 Canadian defence and security companies, CANSEC is an annual two-day event featuring exhibits by Canada's leading defence and security companies.
Contacts:
Margaux Stastny
Director of Communications
Office of the Honourable Christian Paradis
Minister of Industry
613-995-9001
Media Relations
Industry Canada
613-943-2502
