Minister Tassi announces investment to support almost 2,300 Canadian steel workers in southern Ontario
“We are committed to supporting Canadian steel workers and the innovative, world-class products they produce. Our investment in Stelco will help strengthen the competitiveness of the steel sector for years to come, maintain Canada’s position in the global market and support jobs for middle-class Canadians.”
– The Honourable Filomena Tassi, Minister of Seniors
“Canadian steel producers and workers form the economic backbone of communities across our country. This investment will support almost 2,300 jobs at Stelco and help it upgrade its facilities to become more competitive and expand its market reach.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
“Stelco has a proud history of bringing innovation to market by revolutionizing the steelmaking process and through the products we develop for our customers. Through this partnership with the Government of Canada, we intend to continue that tradition by modernizing our facilities and empowering our 2,300 employees to manufacture the next generation of steel products our customers demand.”
– David Cheney, Chief Executive Officer, Stelco
Stelco is an Ontario-based, fully integrated steel company specializing in the production of the next generation of flat-rolled steel used by the automotive, construction and energy sectors.
In 2018, the Canadian steel industry employed more than 23,000 Canadians and contributed $4.3 billion to Canada’s gross domestic product. This industry is a vital supplier to the Canadian manufacturing, energy, automotive and construction industries.
This investment is being made through the Strategic Innovation Fund, a program designed to attract and support high-quality business investments across all sectors of the economy by encouraging R&D that will accelerate the transfer of technology and the commercialization of innovative products, processes and services and will facilitate the growth of innovative firms.
In addition to the Strategic Innovation Fund, there are hundreds of programs and services to help businesses innovate, create jobs and grow Canada’s economy. With a simple, story-based user interface, the Innovation Canada platform can match businesses with the most fitting programs and services in about two minutes.
- Strategic Innovation Fund
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Office of the Minister of Innovation, Science and Economic Development
Innovation, Science and Economic Development Canada
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