Ontario Invests CAD 215M to Boost Provincial Shipbuilding Sector

The Ontario government is investing CAD 215 million (approximately USD 184 million) to support the province's shipbuilding and marine sector, including the creation of a CAD 15 million Ontario Shipbuilding Grant Program (OSGP) aimed at expanding shipbuilding capabilities. This investment aligns with Canada’s National Shipbuilding Strategy and addresses challenges such as U.S. tariffs and economic uncertainty by funding projects that enhance skills training, infrastructure, and machinery acquisition. Ontario’s Minister of Transportation, Prabmeet Sarkaria, emphasized that the funding will prepare the workforce to meet increased federal defense commitments tied to NATO spending targets, urging the federal government to include Ontario shipbuilders in national plans. The OSGP offers non-repayable grants covering up to 50% of eligible project costs to boost the competitiveness and long-term capacity of shipbuilding businesses. The initiative is seen as critical for Ontario’s economic strength and national security, with Ontario Shipyards actively engaged in extending Canadian Coast Guard vessels. This funding is part of broader efforts to support industrial jobs and strengthen the marine sector in response to rising defense expenditures and geopolitical considerations.