Investing in First-in Canada Medical Devices April 17, 2015 RICCentre Harper Government invests in the GTA’s Advanced Manufacturing Sector, creating highly-skilled jobs April 17, 2015 – Mississauga, Ontario – Federal Economic Development Agency for Southern Ontario (FedDev Ontario) Today, FedDev Ontario Minister Gary Goodyear , along with MP for Mississauga—Streetsville Brad Butt and MP for Mississauga South Stella Ambler, announced an important investment that will accelerate the development and commercialization of new, first-in-Canada medical devices to be used by physicians during heart procedures. Baylis Medical, a manufacturer and distributor of medical devices, will receive a $15.2 million repayable contribution under FedDev Ontario’s Advanced Manufacturing Fund. The Government of Canada’s investment will allow Baylis to commercialize and manufacture three new medical device product lines and improve productivity forin-house manufacturing. This will enhance Baylis’ global competitiveness and strengthen Ontario’s medical device cluster. This project will lead to the development of transformative products and first-in-Canada technologies to help Ontario manufacturers create high-quality, highly-skilled jobs and compete globally. Quick Facts The manufacturing sector is a major contributor to Canada’s economy, employing more than 1.7 million Canadians, of which nearly 750,000 live in Ontario. It also accounts for half of the business R&D in Canada and generated sales of $621.7 billion in 2014, including $286.6 billion in sales for Ontario. Nearly 80,000 manufacturing establishments exist across the country with more than 32,000 manufacturing establishments exist in southern Ontario. The Harper Government has provided 1.4 billion dollars or tax relief to the manufacturing sector and total business tax costs in Canada are now the lowest in the G7. Baylis Medical Company is expected to create 30 research and development jobs and 60 manufacturing jobs at the company’s facilities in Mississauga, Ontario. This is in addition to new jobs created through the company’s Canadian supply chain. The Government of Canada officially launched the AMF in Ontario to support manufacturers as they work to increase competitiveness, invest in innovation and boost productivity across the province. The AMF is delivered by FedDev Ontario with an allocation of $200 million over five years. Quotes “I am delighted to be here in Mississauga to announce Baylis Medical as a recipient through the Advanced Manufacturing Fund. Our Government’s investment will bolster the life sciences ecosystem in Ontario, strengthen Ontario’s manufacturing sector, and create jobs in this region and across Canada.” – The Honourable Gary Goodyear, Minister of State for FedDev Ontario “Baylis Medical stands as an example of true entrepreneurship and innovation, growing from three to over 200 employees dedicated to creating medical devices that help improve patient outcomes and create more efficient and effective health care practices.” – Brad Butt, MP for Mississauga-Streetsville “Innovative companies, like Baylis Medical, are taking Ontario’s manufacturing sector into the future. The Government of Canada is proud to support Baylis and continues to be committed to investing in trailblazing manufacturers by helping them become more competitive, more productive and by ensuring we keep and create higher quality jobs here in Canada.” – Stella Ambler, MP for Mississauga South “FedDev Ontario, through the Advanced Manufacturing Fund, will help Baylis Medical solidify our competitive position in the medical device market for heart procedures. Today’s announcement of support from the Government of Canada is not only important for Baylis, it is important for Canada’s life-sciences industry, for our manufacturing sector, and for patients who will benefit from more efficient and effective health care practices.” – Kris Shah, Executive Vice-President and Chief Technology Officer, Baylis Medical Company Related Products Backgrounder: FedDev Ontario Investment in Baylis Medical Speech: Advanced Manufacturing Fund Announcement for Baylis Medical Company Associated Links Advanced Manufacturing Fund Baylis Medical Contacts Erica Furtado Director of Communications Office of the Honourable Gary Goodyear 613-943-7599 Media Relations FedDev Ontario 416-954-6652 FedDevMedia@FedDevOntario.gc.ca Full post here.