ANNOUNCEMENT 04 Sep 2013In September 2013, the government of Canada announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On September 4, 2013, Canadian Minister of Industry James Moore announced the launch of a new Technology Demonstration Program designed to fund large-scale technology demonstration projects. The program will cover up to 50% of eligible project costs. To qualify, projects must be led by a company with a large scale R&D project in the aerospace, defense, space, and security sectors with activities up to the completion of Technology Readiness Level 6. In addition, eligible candidates must be for-profit corporations, incorporated and conducting business in Canada. 'We're committing $110 million over four years,' Minister Moore announced, 'and $55 million every year thereafter to ensure that the Technology Demonstration Program has the staying power to support Canadian industry in the long term.'
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.