Canadian Manufacturing’s 2023 Year in Review
by Sadi Muktadir
2024 looks to see the manufacturing industry continue to evolve amid supply chain challenges, new cleantech-related concerns, and increased competition.
PHOTO: Mixabest via Wikimedia Commons
Canadian Manufacturing presents their 2023 Year in Review.
Over the course of 2023, Canadian Manufacturing had the opportunity to speak to manufacturers and attend events, reporting on changes in the manufacturing industry that affect the Canadian economy and business landscape.
On behalf of the readership and subscribers, manufacturers from the world of biotech, additive manufacturing, building materials and other manufacturing industries were all asked about their 2023 developments and what they were working on.
Regional municipalities across the country are travelling to trade shows and conferences to speak to global manufacturers to attract investments in Canada. York Region travelled to AutoTech Detroit in June to try and attract more automotive manufacturing investments in Ontario.
Canadian Manufacturing was also able to attend ProMat, a global manufacturing conference in Chicago, Ill. and it was no disappointment. Over 1,000 global manufacturers and companies were sharing ideas and cutting deals on the showroom floor, with businesses eager to showcase their capabilities.
With regards to the EV manufacturing supply chain, manufacturers are increasingly moving fast on strengthening their business to take advantage of the burgeoning industry. Tersa Earth is a biotech startup trying to address the mining industry’s toxic waste management issue by extracting valuable minerals from tailing dams.
Volkswagen also announced plans to build an electric vehicle manufacturing plant in St. Thomas, Ont., with the Canadian government heavily subsiding the company’s efforts. The move is expected to cost taxpayers up to $16.3B, and create thousands of jobs once complete in 2027.
We’re seeing an increased focus on Cleantech-related manufacturing, with the Canadian government supporting nascent startups and small businesses with their ideas. Build Smarter is a residential construction company using recyclable steel to build more sustainable homes, and they have major plans to expand beyond B.C. in 2024.
Ont. is focused on attracting more electronics/hardware and semiconductor manufacturing, with companies like LAVA Computer focused on manufacturing adaptors that can extend the battery life of devices. Valuable small businesses doing cutting-edge advanced manufacturing work continue to play key roles in the country and helping to grow the advanced manufacturing economy.
2024 will be a year of continued development and change across manufacturing and will no doubt bring challenges and solutions for many businesses exploring new ways to stay competitive.
