The federal government has announced a $12-million investment to support bio-based innovation in Sarnia.
Navdeep Bains, Minister of Innovation, Science and Economic Development made the announcement late Monday morning at the Western Sarnia-Lambton Research Park.
"It's really creating an environment for businesses to grow and scale up and succeed," says Bains.
"It's very important in Sarnia-Lambton because it's transitioning from being primarily a chemistry industry to really a bio-economy which is consistent with the overall agenda of Canada."
The money from FedDev Ontario for Bioindustrial Innovation Canada is expected to create 478 full-time equivalent jobs and result in 250 new industrial collaborations, especially among small and medium-sized businesses.
The funding will be used to support the Centre for the Commercialization of Sustainable Chemistry Innovations at the research park.
The centre will provide businesses with help to bring new products from final testing to market much faster.
Today's announcement follows a $3-million funding announcement from the province in June.
The focus of Bioindustrial Innovation Canada is to help Ontario and Canada become a globally recognized leader in taking sustainable feedstock, such as agricultural and forestry by-products and wastes, and turning these renewable resources into energy and value-added chemicals for use in applications ranging from construction to automotive parts.
- With Files From Dave Dentinger