Published On: Wednesday, 09 August 2017
Feds Announce $25M Investment in Western Canada
CANADA - Western Canadians will benefit from new middle class jobs and business opportunities that will diversify and grow the region's economy as a result of increased funding worth $25 million over five years.
This funding was recently announced by Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada (WD), an agency established to promote the development and diversification of the economy of Western Canada.
WD will continue to support communities, businesses, and First Nations by identifying opportunities to invest in innovative and emerging industries. This will diversify the western economy, improve the quality of life of Western Canadians, and create the well-paying jobs of today and tomorrow.
As part of a new approach to economic development through innovation, regional development agencies across the country, including WD, will be focused on strengthening innovation capacity by:
- Supporting small and medium-sized businesses that want to adopt new technologies and boost their innovation capacity;
- Nominating 50 firms across the country to participate in a federal program that will help them grow nationally and internationally;
- Investing $100 million annually across the country in clean technology; and
- Supporting a total of 250 Indigenous projects as they develop and diversify their economies.