September 22, 2006

McMASTER INNOVATION PARK

By bringing emerging technologies to market faster, the McGuinty government is creating more high-value jobs, bringing new investment into the province, ensuring future prosperity, and improving quality of life for Ontario families.

The McMaster Innovation Park in Hamilton is a 37-acre site being developed into a multi-building research campus connecting the communities of science, industry and government.  The main focus of the park will be on the materials and advanced manufacturing sectors, as well as biosciences, nanotechnology and information and communications technologies.

The Ontario government has committed $10 million towards this important initiative to ensure the province is at the forefront of research and innovation.

The project is expected to create 1,500 long-term stable jobs with an annual direct payroll impact of over $100 million. 

The park will include:

• Public and private sector research and laboratory facilities, including the General Motors of Canada’s Centre for Corrosion Engineering Research
• A technology business incubator, McMaster Biosciences Incubator Centre
• Lecture and teaching facilities, some in partnership with Mohawk College
• Other supporting uses, such as conference facilities.

The government is also investing almost $3.9 million for McMaster to lead a network of seven southwestern Ontario research institutions in the area of technology transfer.  Called C4, it is part of the McGuinty government’s Ontario Research and Commercialization Program, an initiative launched last year to help business innovators take their products to market.

The program is based on a vision for co-ordination, co-operation, collaboration and commercialization – hence the working name C4.  By sharing resources and expertise, the universities hope to establish broader partnerships, apply jointly for funding opportunities and more effectively market and commercialize technologies.

Creating high-skilled, high-paying jobs is integral to Ontario’s future economic prosperity.  The McMaster Innovation Park will help create a culture of innovation in the Golden Horseshoe that will strengthen Ontario’s ability to generate discoveries and move those discoveries to the marketplace.