Speech Article from
Archived - Investing in Business Growth and Productivity Funding Announcement for Dalton Pharma Services
Mark Adler, Member of Parliament, York Centre
January 16, 2015
Speech length: approx. 5 minutes
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Good morning ladies and gentlemen, friends and guests, and thank you Minister Goodyear, for that kind introduction.
I would like to thank Mr. Pekos and Dalton Pharma Services for hosting today's announcement. (C'est un grand plaisir d'être ici avec vous aujourd'hui.)
We've just completed a tour of the facility, and I was lucky enough to see some of the impressive construction that is going on, as well as some samples manufactured here.
It is a pleasure to be here to deliver some great news for Dalton Pharma Services and for Canadians.
As Minister Goodyear pointed out, the manufacturing sector employs nearly 1.7 million Canadians, so we are making particular efforts for manufacturing businesses to succeed.
In support of the manufacturing sector, our Government, under the strong leadership of our Prime Minister, has negotiated trade agreements that will expand market opportunities and create jobs. It has eliminated tariffs on machinery and equipment, making Canada the first tariff-free zone for manufacturing inputs in the G20. And it has renewed the accelerated capital cost allowance in 2013, providing $1.4 billion in deferred taxes to Canadian manufacturers that invest in machinery and equipment.
Here in southern Ontario, to help our communities and businesses move from economic recovery to growth, our Government created FedDev Ontario in 2009.
FedDev Ontario ensures our Government can continue to support the growth and diversification of the southern Ontario economy, through investments in the people and ideas that will help SMEs succeed, grow and continue to play an important role in bringing economic prosperity to our region.
Folks, I can tell you Minister Goodyear and the Agency are making a difference for the people and businesses of southern Ontario.
Since its creation, our Government has funded hundreds of partnerships and projects in southern Ontario through FedDev Ontario. It has invested more than $1.2 billion, resulting in partnerships with more than 5,300 organizations and more than $1.5 billion in additional leveraged investments from almost exclusively non-government sources to support businesses, organizations and communities in southern Ontario.
For example, this past November, Minister Goodyear announced up to $6.28 million for nine innovative companies under the Investing in Business Innovation initiative in the Toronto area as part of a nearly $57 million initiative launched in 2010. They are bringing new products to market and creating high-quality jobs.
One of FedDev Ontario's programs is the Investing in Business Growth and Productivity initiative, or IBGP initiative, which is aimed at helping our businesses to compete globally.
Today, I'm pleased to announce new funding through this initiative for a local company with a strong track record that is seeking to become more competitive in the pharmaceutical industry.
This is important here in southern Ontario as the life science sector in Toronto ranks as North America's fourth largest medical research community and our biotechnology cluster ranks among the world's top 10.
I am pleased to announce that FedDev Ontario is providing Dalton Pharma Services with more than $2 million to buy equipment and renovate the company's existing building. This will enable Dalton Pharma Services to manufacture more specialized drug products for small pharmaceutical and biotechnology companies.
(pause for applause)
I am also pleased to note that the project is expected to create 21 new full-time skilled positions in the life science sector during the project, and an additional 13 new positions following project completion.
Our Government's contribution is matched by an additional $6.3 million from Dalton Pharma Services.
Ladies and gentlemen, our Government believes that it is support like this that can help put our southern Ontario innovations and companies on the map.
Thank you et merci.
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