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Tony Clement

Clement touts research as means to grow economy

Tony Clement 24%

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During a March 30 visit to the Northern Centre for Advanced Technology (NORCAT), federal Treasury Board president and Minister for FedNor Tony Clement outlined the ways the federal government plans to create jobs by investing in innovation.

Through its 2012 budget, which was released March 29, the federal government plans to spend $1.1 billion to support research and development, plus another $500 million for the government's Venture Capital Fund, Clement said.

Institutions such as Sudbury-based NORCAT, which provides health and safety and mine training, technology innovation and commercialization, will be eligible to tap into some of these funds, Clement said.

“We recognize NORCAT and other organizations like NORCAT grow the Canadian economy,” he said.

“By promoting research and development and all the all-important commercialization of new services and technology, and by bringing Canadian technology and expertise and prowess to the world, we are not only creating huge new opportunities worldwide, but we're creating jobs and opportunities right here in northern Ontario.”

Clement, who also spoke at a Greater Sudbury Chamber of Commerce luncheon earlier on March 30, said FedNor has spent $64 million on research and development in northern Ontario since he became the Minister for FedNor in 2006.

NORCAT has received $3.5 million from FedNor over the last four years, he said.

 

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By Heidi Ulrichsen

 

Source: northernlife.ca


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