Government announces support for 6,400 Canadian steel workers in Ontario and Quebec

Government of Canada fulfilling its commitment to protect Canadian steel workers and Canadian interests

HAMILTON, ON, Oct. 19, 2018 /CNW/ - In the face of global economic challenges, the Government of Canada continues to support innovative companies, including steel producers, that create highly skilled, well-paying middle-class jobs.

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced a commitment of up to $49.9 million to ArcelorMittal Canada Inc., a leading steel producer with plants in Ontario and Quebec.

This investment will support up to 4,700 good middle-class jobs in Hamilton, Ontario, and 1,700 more in Contrecœur, Quebec. ArcelorMittal is undertaking a $205-million project to modernize its facilities, which will help enhance the company's productivity and sustain its competitiveness.

Improvements will help ArcelorMittal increase the efficiency and sustainability of its operations and enhance its ability to develop advanced high-strength steels to meet Canada's demand in the energy, automotive and construction industries. The company will also reduce its fuel consumption and lower its greenhouse gas emissions by up to 100,000 tonnes per year.

This investment is being made through the Strategic Innovation Fund, a program designed to attract and support high-quality business investments across all sectors of the economy by encouraging R&D that will accelerate the transfer of technology and the commercialization of innovative products, processes and services and will facilitate the growth of innovative firms.

Quote

"In the face of unfair and unjust tariffs, we committed to standing shoulder to shoulder with our workers and supporting the innovative, world-class products they produce. We are delivering. Our investment in ArcelorMittal will help strengthen the competitiveness of Canada's steel industry for years to come, contribute to economic growth, increase the industry's capacity to innovate, grow value added, support product and market diversification, and create and sustain jobs for Canadians."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

Quick facts

ArcelorMittal Canada Inc. is a leading steel producer and mining company in major global markets, working with the top automotive, energy, packaging and construction brands to develop lighter, stronger and more sustainable products. It employs almost 10,000 people in Canada, including 5,000 in Hamilton, where it is the city's largest private sector employer.
In 2017, the Canadian steel industry employed more than 23,000 Canadians and contributed $4.2 billion to Canada's gross domestic product.
The Strategic Innovation Fund is a flexible program that reflects the diversity of innovation in all sectors of the economy.
In addition to the Strategic Innovation Fund, there are hundreds of programs and services to help businesses innovate, create jobs and grow Canada's economy. With a simple, story-based user interface, the Innovation Canada platform can match businesses with the most fitting programs and services in about two minutes.

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SOURCE Innovation, Science and Economic Development Canada