Ontario government announces $215M investment into shipbuilding, marine sector

The Ontario government has announced a major investment into the shipbuilding and marine sector across the province – fulfilling a promise outlined in this year’s provincial budget.

At a press conference in St. Catharines today, Transportation Minister Sarkaria announced a $215 million infusion into the industry. This will include a $15 million Ontario Shipbuilding Grant Program (OSGP) to expand the province’s shipbuilding and repair capabilities.

The grant money can go toward supporting skills training, purchasing improved machinery and equipment, as well as updating existing infrastructure.

“Today’s announcement is a major win for St. Catharines and the entire marine sector,” St. Catharines Mayor Mat Siscoe said in a statement.

“The Ontario Shipbuilding Grant Program will bring new investment and good jobs to the Port Weller dry docks – support we’ve long advocated for through our work on the Ontario Marine Transportation Strategy. This funding secures a stronger future for Ontario Shipyards and helps keep our province competitive on the water.”

It’s a first-of-its-kind program, allowing shipbuilders access to non-repayable grants for up to 50 per cent of eligible costs for projects that support the industry’s competitiveness, business growth and long-term capacity. Applications will open in late July.

This will be a significant investment for Ontario Shipyards, which has locations in Hamilton, St. Catharines and Thunder Bay. The company has been Canada’s largest ship repair and construction company for over 30 years.

“At a time when industrial jobs are under pressure across North America, Ontario has taken bold, strategic action to support a growing sector critical to our economy and national security – one that directly contributes to Canada’s commitment to meeting the two per cent NATO defence spending target,” Shaun Padulo, President and CEO of Ontario Shipyards said in a statement.

READ MORE: Ford government unveils design plans for Ontario Place