Speech for Canada's Technology Triangle

The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

Waterloo, Ontario
November 13, 2009

Check against delivery

Bonjour et bienvenue.

It’s a pleasure to be back in the Waterloo area once again.

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. 

As a home to some of the top technology companies in the world, the Waterloo Region thrives because of talented people, and a culture of collaboration, innovation and entrepreneurialism.

In fact, these are some of the reasons that we chose nearby Kitchener as our headquarters for the Federal Economic Development Agency for Southern Ontario, or FedDev Ontario as we like to call it. 

This Region, or ‘Canada’s Technology Triangle’, has the opportunity to inspire other communities struggling with hard economic times and use their own success story as an example of what can be achieved.  

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 some evidence that our government’s actions are beginning to have an impact and that our economy is starting to benefit from our plan.

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. 

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 under Canada’s Economic Action Plan.

This includes 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 $94 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 is on taking action to deliver results.

Over the past eight weeks, I have been talking to community, business, and education leaders throughout Southern Ontario.

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?

And let me tell you – the focus of the Agency will be on creating a leading-edge manufacturing sector; supporting innovation and commercialization; and sustaining community economic development activities.

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

By following a strategy of enlisting existing programs wherever possible to quickly distribute much-needed funding, we are maximizing the benefits to Southern Ontario businesses and communities.

I am pleased to say that a significant amount of funding has already been delivered since FedDev Ontario's launch on August 13. Under the Community Adjustment Fund, or CAF, in Southern Ontario, we announced $102 million worth of funding to support 90 projects throughout Southern Ontario over the coming year.

In the Waterloo Region alone, the amount of CAF funding totals more than $2.5 million.

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

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.

Providing support and investing in these areas are among our immediate priorities under FedDev Ontario and we will continue to develop and support programs that address the needs that exist in these areas.   

An example of this commitment is a recent investment of more than $280,000 through the CAF program in a local, non-profit association in the Waterloo Region called Communitech. Communitech was formed to promote and grow the local technology sector.

With funding from CAF, Communitech will create cutting-edge visualization technology to enable industry and researchers to interact with complex renderings of products or processes.

The new technology created will serve companies from a number of different industries including healthcare, manufacturing, science entertainment and environmental – generating significant long-term job creation in these sectors.

It is through strategic and targeted investments in small community businesses and organizations, like Communitech, that local economies will thrive, diversify and prosper. And it is these types of investments that will provide great returns to Southern Ontario for years to come. 

I have also recently announced three significant partnership investments that will benefit small- and medium-sized enterprises, or SMEs, and small business organizations in Southern Ontario. These include:

• $45 million for the Industrial Research Assistance Program to help small- and medium-sized businesses in Southern Ontario innovate and create the jobs of the future;
• $30 million for the Community Futures Development Corporations so that they can provide rural, small business with greater access to services and financing; and
• $50 million for venture capital through the Business Development Bank of Canada.

Most recently, on October 2, I was pleased to launch a $40-million application intake for the Southern Ontario Development Program, or SODP. 

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

Since the SODP was launched, we have recognized the need for support is great. We have already received many good projects. 

That is why, last week I announced an additional $30 million under the Southern Ontario Development Program.

This includes a $15 million top-up for the first intake of SODP. This brings the total of funding available for projects under this intake to $55 million.  

Communities, non-profits, SMEs and small business organizations are invited to submit an application for projects that will diversify local economies, create jobs and focus on product innovation and commercialization. 

The additional funding also provides a more than $15.75-million investment in the Canadian Manufacturers and Exporters Association SMART program to fund projects that will allow small- and medium-sized manufacturers to help increase their productivity and competitiveness in the global economy.

Hundreds of Ontario manufacturers across the province who have decided to invest in the future of Ontario have already received help through this Program.

Now, thanks to our investment – we will be able to help hundreds more.

And just this week, I announced a $20-million intake process specifically for small- and medium-sized businesses in the food and beverage processing sector, and $1.6 million for the Ontario Chamber of Commerce’s Export Market Access program.

Overall funding for the SODP is $100 million in 2009-10. And I’m pleased to say that more than $90 million has now been announced.

I intend to make additional announcements for the rest of the SODP funding shortly.

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.

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 products, processes and services.

I believe that by working collaboratively with perseverance, knowledge and skill, we can 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 talk to you about our agency and the exciting work we have ahead of us. 

Thank you.  Merci.