Government of Canada Announces $2.2 Billion for Life Sciences Sector in Eastern Ontario
Ottawa, ON – February 18, 2025 – The Government of Canada today announced $2.2 billion in funding over the next five years to support the growth and expansion of the life sciences sector in eastern Ontario. This investment will be used to create new jobs, support research and development, and help businesses scale up their operations.
“Our government is committed to investing in the life sciences sector because we know that it has the potential to create good jobs and drive economic growth,” said the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry. “This investment will help businesses in eastern Ontario develop new therapies and technologies that will improve the lives of Canadians and people around the world.”
The funding will be provided through the Strategic Innovation Fund, a program that supports large-scale research and development projects that have the potential to transform the Canadian economy. The projects that will receive funding through this investment will be focused on developing new therapies and technologies for a range of diseases, including cancer, heart disease, and diabetes.
“The life sciences sector is a key driver of our economy in eastern Ontario,” said the Honourable Lisa MacLeod, Minister of Economic Development, Job Creation and Trade. “This investment will help us create new jobs, attract new businesses, and support the growth of our existing businesses.”
The Government of Canada is working with the Government of Ontario and other partners to create a supportive environment for the life sciences sector in eastern Ontario. This includes investing in infrastructure, providing access to capital, and supporting the development of a skilled workforce.
“We are excited about the potential of this investment to transform the life sciences sector in eastern Ontario,” said Dr. Michael Wilson, President and CEO of the Ontario Institute for Cancer Research. “This will allow us to attract and retain top talent, invest in cutting-edge research, and bring new therapies to patients faster.”
The announcement was welcomed by industry leaders and researchers.
“This is a significant investment that will help us grow our business and create new jobs,” said Dr. Jane Smith, CEO of a biotechnology company in eastern Ontario. “We are grateful for the government’s support and look forward to working with them to build a thriving life sciences sector in eastern Ontario.”
“This investment will provide us with the resources we need to conduct world-leading research and develop new treatments for patients,” said Dr. John Doe, a researcher at a university in eastern Ontario. “We are excited about the potential of this investment to improve the lives of Canadians and people around the world.”
The Government of Canada’s investment in the life sciences sector is part of its broader strategy to invest in science and innovation. The government believes that science and innovation are key to creating a strong and prosperous economy for all Canadians.
Government of Canada to support businesses and expansion of life sciences sector in eastern Ontario
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