The federal government has announced a nearly $60-million investment in semiconductors, a technology ubiquitous in electronic devices and also used to develop artificial intelligence.
Prime Minister Justin Trudeau made the announcement on Friday morning in Bromont, in the Eastern Townships, along with several federal and Quebec ministers.
The $59.9 million will be invested in projects by IBM Canada and the MiQro Innovation Collaboration Centre (C2MI) in Bromont, “to increase semiconductor production and stimulate economic growth,” according to the government press release.
Ottawa’s goal is to make Canada a “world leader in semiconductor manufacturing.”
Quebec, for its part, is providing IBM Canada with $38.9 million through Investissement Québec, announced Economy Minister Pierre Fitzgibbon in a press release.
The companies’ projects, worth $226.5 million, will create more than 280 “highly skilled” jobs in the region, as well as 240 internship positions, according to the federal government.
Semiconductors, also known as microchips, are used in many sectors, including computing and medical equipment. They are also useful in emerging technologies such as artificial intelligence and quantum computing.
According to the government, this industry includes over 500 Canadian and multinational companies.
“Today’s announcement is a great victory for Canada and for our dynamic technology sector,” said Trudeau in a press release.
“It will create well-paying jobs, invest in innovation, strengthen supply chains and ensure that the most advanced technologies are made in Canada.”
– This report by The Canadian Press was first published in French on April 26, 2024.