On December 1, 2016 Public Services and Procurement Canada announced the awarding of a contract valued at Can.$2.4 billion (U.S.$1.8 billion) to Airbus Defence and Space to acquire the next generation of search and rescue planes and opening a new training facility in Comox, British Columbia. This procurement was made under the terms of the Defence Procurement Strategy that the government of Canada announced in 2014, under which companies that are awarded defence procurement contracts are generally required to undertake business activity in Canada that is equal to the value of the contract. This is also known as the Industrial and Technological Benefit (ITB) policy, a core element of which is a rated and weighted value proposition. “The Industrial and Technological Benefits Policy applies to this procurement,” according to the announcement, observing that “Airbus Defence and Space continues to develop strategic relationships with Canada's world-leading aerospace and defence firms and will undertake business activities in Canada equal to the contract value.”