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PM highlights Canada as a top investment destination
Welcomes Kongsberg to Canada
25 March 2010
London, Ontario
"Our Government’s number one priority is jobs and growth," said Prime Minister Harper. "Kongsberg will bring both to London. In particular, this company brings the kind of knowledge-intensive jobs on which the highly-developed economy of the future will be based."
Kongsberg is a world leader in defence and aerospace technologies. The new facility is expected to directly create up to 100 jobs in the London area, with a further 500 jobs through supplier activity. These high-tech jobs will strengthen Canada’s manufacturing and defence sectors as well as the larger research community.
"Kongsberg’s decision to expand its Canadian operations confirms that Canada has the right conditions to attract and nurture the new economy," said the Prime Minister. "Canada is open for business and will emerge from the recession more powerful, more competitive and more prosperous than it ever was before."
The Government’s economic policies are making Canada more competitive, attracting foreign investment from companies like Kongsberg. Businesses are benefitting from reductions in the corporate income tax rate. In fact, Canada will have the lowest overall tax rate on new business investment in the G-7 this year. Canada’s Economic Action Plan improves conditions for investment, enhances competition and reduces barriers for businesses. This year, the Economic Action Plan will eliminate remaining tariffs on manufacturing inputs, machinery and equipment; continue to strengthen our financial sector; and provide support for research and development.
