New Report Highlights Critical Economic Impact of Canada's Defence Industry

OTTAWA, 25 May 2016 /CNW/ - Canada's defence industry contributed $6.7 billion in GDP, $10 billion in revenues and 63,000 jobs to the Canadian economy in 2014, according to a new report developed by Science, Innovation and Economic Development Canada and Statistics Canada in collaboration with the Canadian Association of Defence and Security Industries (CADSI) on behalf of the Canadian Defence Industry.

The report, State of Canada's Defence Industry, 2014, was launched on the opening day of CANSEC 2016, Canada's global defence and security trade show at the EY Centre in Ottawa.

"This study is important for both industry and government," said CADSI President Christyn Cianfarani. "It is the most detailed and comprehensive study of the Canadian defence sector ever conducted and it confirms that Canada's defence industry is high wage, export intensive, technology rich and pan-Canadian."

The report indicates that Canada's defence industry compensation is 60 per cent higher than the national average. The sector's export performance is 60 per cent of sales, up from 50 percent in 2011. Engineers, scientists, researchers, technicians and technologists comprise over 30 per cent of the jobs in the defence industry, which highlights the innovative nature of the sector. Production workers make up another 40 per cent of the defence labour force.

"Companies that make up the Canadian defence industrial base—most of which are present here at CANSEC—and the types of jobs they offer, are what Canada needs and what governments should value in today's global economy," concluded Ms. Cianfarani. "With the recapitalisation of the Canadian Armed Forces currently underway, the Government of Canada has the opportunity of a generation to make the Canadian defence industry a source of innovation-led growth."

CANSEC is Canada's global defence and security trade show, hosted by CADSI since 1998. Over the years, CANSEC has grown to a global show that welcomes over 11,000 registrants from Canada and abroad to see first-hand Canadian goods and technologies sought the world over. 

The full report can be found at: www.madeacrosscanada.ca.

About CADSI

The Canadian Association of Defence and Security Industries (CADSI) is the national industry voice of more than 700 Canadian defence and security companies that produce world-class goods, services and technologies made across Canada and sought the world over. The industries contribute to the employment of more than 63,000 Canadians and generate $10 billion in annual revenues, roughly 60 per cent of which come from exports. To learn more, visit www.defenceandsecurity.ca and follow us on Twitter at @CadsiCanada.

SOURCE Canadian Association of Defence and Security Industries (CADSI)

Ann Marie Paquet, Communications Coordinator, Canadian Association of Defence and Security Industries, Tel: [phone] x 43, Email: [email protected], Web: www.defenceandsecurity.ca