Greater Kitchener-Waterloo Chamber of Commerce

The Honourable Gary Goodyear, Minister of State (Federal Economic Development Agency for Southern Ontario) (Science and Technology)

Waterloo, Ontario
September 23, 2009

Check against delivery

Bonjour et bienvenue. Thank you Peter for the kind introduction.

I must say that Peter Braid, along with Harold Albrecht and Stephen Woodworth, have been very strong representatives for Kitchener-Waterloo region. No Member of Parliament works harder or lobbies harder than these three MPs and I am pleased with how much our team has been able to accomplish for the region of Kitchener, Waterloo and Cambridge.

It's a pleasure to be back in the area for the third time in what has been a very busy six weeks for me as the new Minister of State for FedDev Ontario.

When Prime Minister Stephen Harper asked me to take on the job, I was thrilled. As a lifetime resident of Southern Ontario, I have had the privilege of growing up, going to school, running a business and raising a family in this area.

Over the years, through good times and challenging times, I have witnessed first hand the strength, determination, creativity and innovation of the people, businesses and communities of Southern Ontario.

These efforts have resulted in Canada being a leader in the global knowledge-based economy; however, our production and manufacturing sectors have been particularly hard hit by the global recession. These circumstances dictated a swift response, and our government has been quick to act.

There is already some evidence that all these measures our government has taken are having an impact, and that our economy is starting to turn the corner.

I was heartened to see that last month there were 12,000 new jobs created in Ontario, according to Statistics Canada.

We also learned that manufacturing was up by almost 12 per cent in July in this province. The price of new homes has also started to climb for the first time in a year.

While we are fighting the recession here at home, the world looks to Canada to help lead the recovery.

This is evident by the most recent ranking by the World Economic Forum, which places Canada as the 9th most competitive economy in the world — a big jump from 14th in 2005–2006.

We all should be proud of this progress.

However, even though we are starting to see some good news, I think you would agree that this is no time for your government to take a break. This is no time for Parliament to stop work and create political instability.

Canadians do not want and do not need an unnecessary election. Canadians' number one priority and our government's number one priority is the economy.

That is why our government is working hard, in partnership with people, businesses and communities here in southern Ontario to strengthen our economy.

We've made a number of significant investments in the region, including auto-sector restructuring efforts, and infrastructure investments through programs such as the Recreational Infrastructure Canada Program in Ontario and the Building Canada Fund.

In addition, since May 2009 more than $63 million has gone into various projects in this area at the University of Waterloo and Conestoga College as part of the Knowledge Infrastructure Program.

But this government recognizes that we need to do more in Southern Ontario. This is why, under Canada's Economic Action Plan, more than $1 billion has been provided for the new Southern Ontario development agency. Our focus will be on taking action to deliver results.

And while FedDev Ontario was launched just a few weeks ago, we have already made significant progress.

Our President, Dr. Bruce Archibald and some of our staff have moved into our headquarters on Frederick Street, right here in Kitchener.

Bruce and I have been talking to community, business, and education leaders throughout the region and have been taking back what we hear.

Many of the same questions have come up — how do we help businesses become more productive, diversify local economies and help entrepreneurs get products to the marketplace?

Our focus will be on creating a leading-edge manufacturing sector; supporting innovation and commercialization; and sustaining community economic development activities.

We are also exploring and welcome your feedback on:

• Increasing support for small businesses;
• Tackling competition from south of the border;
• Encouraging and supporting the plans of local innovators and communities;
• And, how to attract and retain skilled workers.

One area we recognize needs our immediate attention is making our economy, and its communities, more competitive and diversified.

This is exactly what I've been doing over the last six weeks.

For example, last month, I was in Kitchener to announce 90 new projects worth $102 million under the Community Adjustment Fund to help communities all over Southern Ontario develop and diversify their local economies.

In this region alone, the amount of CAF funding totals more than $4.7 million. This money will revitalize the downtown core in Kitchener, build a Skilled Trades Training Centre in Ingersoll with the Conestoga College Institute of Technology and Advanced Learning, and support Waterloo Region Green Solutions with its Residential Energy Efficiency Project.

I was also in Essex to announce our government's $30 million investment in 37 Community Futures Development Corporations so that they can provide rural small business with greater access to services and financing.

Two weeks ago, I was in London to announce $50 million for venture capital through the Business Development Bank of Canada.

I also travelled to Hamilton recently to announce $45 million for the National Research Council — Industrial Research Assistance Program to help small and medium sized businesses in Southern Ontario innovate and create the jobs of the future.

We want businesses to succeed and grow not simply because success will mean more — and better jobs — for workers today, but because it will set the stage for the prosperity of our country tomorrow.

Our long-term economic competitiveness depends, as never before, on ideas, innovation and inventiveness.

If we are serious about improving life and saving lives, if we want to create jobs and prosperity, if we want to help our environment and help victims of disease, we have an obligation to get our ideas out the door and make them available to people around the world.

Commercialization is an area in which our government plays a huge role in setting the stage to enable the private sector to do what it does best — turn knowledge into innovation and innovation into greater wealth and well being for Canadians.

Canada is extremely good at supporting university-based research. Per capita, we invest more in higher-education research and development than any other country in the G7. We rank first among the G7 countries and our government's goal is to stay number one.

We look at research funding as an investment — in innovation, in scientific discovery and in job creation. We see it as a hedge against tough economic times.

Here in Waterloo, Canada's Technology Triangle, we have a reputation for innovative, academic, industrial and scientific excellence that is renowned — and admired — around the world. It's no coincidence that the Perimeter Institute for Theoretical Physics successfully attracted internationally renowned scientist, Stephen Hawking, as its Distinguished Research Chair.

Earlier today, I announced an investment of $156.5 million for 181 Canada Research Chairs at 44 universities across the country. As part of the announcement, Wilfrid Laurier University will be receiving two new Canada Research Chairs and the University of Waterloo will be receiving two new chairs, while five others will be renewed.

We want to build on this kind of academic excellence and continue to create jobs and opportunities here and across Southern Ontario by bringing research, development and new ideas to the marketplace. This is why we will also be launching a Southern Ontario Development Program.

The SODP will help promote economic development, diversification and job creation by delivering close to $100 million in funding this year.

Once the program has been finalized, an announcement will be made to provide details on how to apply. Be sure to check the FedDev Ontario website at www.southernontario.gc.ca regularly for more information as it becomes available.

I am proud to be part of a government that understands that investing in people and building the capacity of our communities is essential to strengthening Canada's economy.

As Canada emerges from the recession, we have a unique opportunity to build on its strengths and assets, and to move our economic activity toward a wider range of value-added and technologically driven products, processes and services.

I believe that by working collaboratively with perseverance, knowledge and skill, we can surpass our track record of innovation and invention, and position Southern Ontario as an economic leader not only in Canada, but worldwide.

I look forward to continuing to work with you as we work to transform Southern Ontario's economy.

Thank you for providing me with this opportunity to tell you about the new agency and the exciting work we have ahead of us. Congratulations to the Chamber organizers for putting on this event.

I welcome your comments and would be pleased to answer any questions you may have.

Thank you. Merci.