March 1, 2022
By Owen Hurst
François–Philippe Champagne, minister of innovation, science and industry announced on February 28, 2022 that the Canadian Government will invest a total of $240 million into the semi-conductor industry to aid in research and manufacturing that are a critical component of Canada’s national security and technological advancement.
“By investing in Canada’s semiconductor industry, we are making a firm commitment to businesses looking to invest in Canada,” Champagne said in a statement. “Whether it’s high-value or large-scale manufacturing, we want to see Canada be home to the world’s leading semiconductor manufacturers.”
Semi-conductors, or chips, have been in high demand due to a shortage of semiconductors as a result of COVID-19 supply chain disruptions. As Champagne noted in his briefing the investment is focused on strengthening Canada’s position within the semi-conductor market.
Lets hope the investment comes quickly!