SASKATOON, SK, April 14, 2022 /CNW Telbec/ – In Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, the Government of Canada makes targeted and responsible investments to create good jobs, grow our economy and build a Canada where nobody gets left behind.
Today, the Honourable Jonathan Wilkinson, Canada’s Minister of Natural Resources, met with Protein Industries Canada to highlight how the Government of Canada is supporting a strong, growing and resilient economy by investing in Canada’s Global Innovation Clusters.
Based in the Prairie provinces, Protein Industries Canada is increasing the value of key Canadian crops — such as canola, wheat and pulses — and serving growing markets in North America, Asia and Europe for new plant-based foods and ingredients. Through plant genomics that improve nutrition, novel processing technology and digital solutions from farm to fork, this cluster is helping Canada capture premium markets for its agribusiness and feed the world.
To support the further growth and development of Canada’s Global Innovation Clusters, Budget 2022 proposes to provide $750 million over six years, starting in 2022–23. Building on their success to date, these clusters will expand their national presence and collaborate to deepen their impact, including through joint missions aligned with key government priorities, such as fighting climate change and addressing supply chain disruptions. To maximize the impact of this funding and to ensure it corresponds with industry and government needs, it will be allocated between the five innovation clusters on a competitive basis.
Budget 2022 will help Canada continue to lead in global efforts on fighting climate change, to protect our nature and to build a clean economy that will create good-paying middle-class jobs of today and tomorrow.
“Budget 2022 is a plan to tackle the Achilles heel of the Canadian economy – growth and innovation. Our plan for economic growth draws on international best practices from around the world to give companies all over the country and across the economy the tools and incentives they need to create and invent, and to take risks and grow. Economic productivity matters because it is what guarantees the dream of every parent – that our children will be more prosperous than we are.”
The Honourable Chrystia Freeland
Deputy Prime Minister and Minister of Finance
“Canada’s innovation clusters have helped create successful and growing innovation ecosystems in Saskatchewan and across the Canadian economy since they were launched. Budget 2022 builds on the success of this model that promotes innovation, helps firms grow in Canada, and grows our economy.”
The Honourable Jonathan Wilkinson
Minister of Natural Resources
- Clusters are areas of intense business activity made up of companies, academic institutions and not-for-profit organizations that boost innovation and growth in a particular industry. Silicon Valley is an example of a well-known cluster, and there are many more around the world.
- The Global Innovation Clusters represent a made-in-Canada approach, where clusters have been supercharged with around $1 billion in federal government funding, matched dollar for dollar by industry.
- Since they were announced in 2018, the clusters have built a strong national brand. More than 480 projects, representing a total investment of $2.16 billion, have been approved, creating thousands of new jobs along the way in various sectors all across Canada. Industry and other partners have committed more than $1.28 billion to innovative projects, and membership has grown to more than 7,100 members.
- There are five Global Innovation Clusters in Canada: Digital Technologies; Protein Industries; Advanced Manufacturing; Scale AI; and Ocean Industries.
- Examples of projects funded by Protein Industries Canada include growing the plant-based foods ecosystem in Atlantic Canada, securing and strengthening Canada’s food supply chain, and promoting inclusion of Indigenous groups in Canadian agriculture.
- Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable
- Budget Speech
- Government of Canada releases Budget 2022
SOURCE Natural Resources Canada