Ottawa, Ontario — In the effort of getting ahead of future supply chain disruptions, the federal government has announced a $240 million investment into the nation’s semiconductor industry.
Minister of innovation, science and industry François–Philippe Champagne said on Monday that $150 million in funding is headed for the Semiconductor Challenge Callout fund to develop and supply semiconductors, while $90 million has been allocated to the National Research Council of Canada’s Canadian Photonics Fabrication Centre.
“By investing in Canada’s semiconductor industry, we are making a firm commitment to businesses looking to invest in Canada,” said Champagne.
“Whether it’s high-value or large-scale manufacturing, we want to see Canada be home to the world’s leading semiconductor manufacturers.”
Semiconductors have been an extremely hot commodity since the start of the COVID-19 pandemic and the numerous supply chain disruptions that followed, and Champagne sees this investment as something that will “strengthen Canada’s position in the industry.”
