Innovation, Trade and Rural Development Executive Council Natural Resources Education Environment and Conservation March 26, 2009 Strength Through Innovation: Budget 2009 Positions Newfoundland and Labrador as Centre for Innovation Newfoundland and Labrador�s knowledge-based industries, educational institutions, and research community are earning a global reputation for developing innovative, cutting-edge products and services. To further support innovative thinking and increase knowledge that contributes to sustainable development the Williams Government today announced investments totaling approximately $81 million in Budget 2009. "Innovation is central to economic prosperity," said the Honourable Shawn Skinner, Minister of Innovation, Trade and Rural Development. "Recognizing its value in the world�s largest economies, the Provincial Government has embarked on an ambitious course to capitalize on the tremendous opportunities that exist for the province. Our investments in Budget 2009 reflect this commitment and are designed to provide the necessary resources to initiate and expand the province�s innovative capacity." The guiding principles for the Provincial Government�s approach to stimulating innovation in Newfoundland and Labrador are outlined in Innovation Newfoundland and Labrador: A Blueprint for Prosperity. As the province�s innovative capacity grows, it leads to new opportunities for all regions of the province, along with improving the operations and competitiveness of traditional industries. "During these times of economic uncertainty, emphasis on innovation and Research and Development (R&D) is even more valuable to ensure that economies remain strong and robust," said Minister Skinner. "Newfoundland and Labrador has a solid foundation to build on � a strong educational system, industry-leading R&D capabilities in several areas, and an expanding business support network. Through increased collaboration and investment we are confident that the province�s economy will be stronger for future generations." Increasing Newfoundland and Labrador�s R&D Capacity Budget 2009 allocates more than $25 million to the Newfoundland and Labrador Research and Development Council (R&D Council) to operate and support academic and industrial R&D in all regions of the province. Of that approximate $25 million, the R&D Council will assume responsibility for the $10 million Industrial Research and Innovation Fund (IRIF). IRIF is designed to support R&D and industrial innovation at post-secondary and public research institutions in the province. The R&D Council will ensure that IRIF continues to build the R&D capacity within higher education institutions and other research facilities in support of industrial innovation. Details of other R&D support programs will be announced later this year. "R&D plays a major role in the development of new products, processes and services," said Minister Skinner. "It is a building block of innovation, productivity, and competitiveness in the global economy. The R&D Council will be a key driver in supporting increased activity in Newfoundland and Labrador and will make R&D related investments in people, strategic opportunities, and infrastructure." Leaders in Ocean Technology Budget 2009 commits $3.5 million to increase capacity in the ocean technology sector. This funding will enable the sector to leverage new business and technology development opportunities in international markets. Newfoundland and Labrador�s ocean technology sector has been described as the "knowledge and business base of marine and subsea technology" by the Marine Technology Reporter, a US-based industry trade publication. There is an increasing international demand for ocean-related technologies � technologies that can be utilized for weather forecasting, smarter fishing, and maximizing offshore energy capacity. In addition to the $3.5 million investment, Budget 2009 allocates $1.4 million towards the purchase of multi-beam sonar mapping and ancillary equipment on the Fisheries and Marine Institute of Memorial University�s (MI) research vessel � Anne Pierce. With this investment, MI will be Canada�s only institution with this equipment, furthering the province�s position as a leader in applied research and development in this area. An additional $675,000 will also be used for the development of a four-year applied ocean mapping program at MI�s School of Ocean Technology. Funding of $315,000 is also being provided for MI�s Holyrood Marine Base to help establish a facility in at-sea research related to ocean science and technology. As part of growing the ocean technology sector the Provincial Government is working towards positioning the province as a Northern Gateway within the Atlantic Gateway concept. The Northern Gateway initiative is designed to increase capacity to manage marine traffic, mitigate security threats and exercise control over environmental stewardship in the Arctic. "The opportunities associated with Newfoundland and Labrador�s ocean technology sector are as large as the ocean that surrounds us," said Minister Skinner. "As a government, we are committed to capitalizing on our strategic position and world-class research and product development initiatives. Our goal is to cement the province as the pre-eminent leader in ocean technology." Core Storage and Research Centre Budget 2009 allocates $1.5 million for the expansion of the Core Storage and Research Centre. This initiative is funded 50/50 with the Federal Government and further supports industry growth and the high volume of materials being collected. Up to 75 per cent of Provincial Government costs are recovered through an arrangement with the province�s offshore oil and gas industry and the Canada-Newfoundland and Labrador Offshore Petroleum Board. Innovation in Forestry and Agrifoods Budget 2009 includes $1 million in R&D initiatives focused on new or improved crops, livestock, and best-management practices for the agrifoods industry. Additionally, $300,000 has been allocated through Budget 2009 to support the development and implementation of a forest science and innovative program. This program will support and guide the forest sector into the future. Other Additional funding allocated in Budget 2009 directed at increasing the province�s innovative capacity include: - 30 - Media contacts:
2009 03 26 2:15 p.m. |
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