PrairiesCan to invest $2.9M in Vehicle Technology Centre
by CM Staff
The investment is meant to assist manufacturers in the transition to zero emission propulsion and the digital initiatives needed for low-volume high-value manufacturing.
WINNIPEG — Daniel Vandal, Minister for PrairiesCan, Northern Affairs, and Minister for CanNor has announced a $2.9 million investment in the Vehicle Technology Centre through PrairiesCan.
A statement from the federal government says this investment should help research and development in Manitoba’s heavy vehicle and equipment sector. It is meant to assist manufacturers in the transition to zero emission propulsion and the digital initiatives needed for low-volume high-value manufacturing.
Speaking at New Flyer Industries in Winnipeg, Minister Vandal focused on two Budget 2022 measures:
Firstly, establishing the new Canada Growth Fund to attract private sector investments, help businesses reduce emissions, diversify the economy and bolster exports by investing in the growth of low-carbon industries and new technologies across new and traditional sectors. Initially capitalized at $15 billion, the Canada Growth Fund will target three dollars of private capital for every dollar invested.
Secondly, creating an operationally independent federal innovation and investment agency with initial funding of $1 billion. The investment is meant to assist new and established Canadian industries and businesses make the investments they need to grow, create jobs and be competitive in the changing global economy.
“Budget 2022 is about creating good-paying jobs for Canadians; cleaner air and water for our children; and a stronger and more resilient economy for years to come,” said Vandal in a statement.