Canada to earn $2 billion every year thanks to shipbuilding
"We made the decision to build these ships right here at home and create more than 15,000 jobs across the country and infuse $2 billion in annual economic benefits to Canada over the next 30 years. Investments like the Halifax Shipyard Modernization Program will create jobs and long-term economic benefits in Nova Scotia and across the country," said Ms. Finley while announcing contract for modernizing the Royal Canadian Navy's Halifax-class frigates.
The announcement came at the same time with one from Irving Shipbuilding in Halifax, Nova Scotia, of a $287.6 million infrastructure investment to ensure its Halifax Shipyard is ready to undertake production when steel is scheduled to be cut for the Arctic-offshore patrol ships and the Canadian surface combatant vessels.
The Halifax Shipyard Modernization Program will boost Canadian gross domestic product, create about 1,700 full-time equivalent positions across Canada and generate $154.3 million worth of employment income in the country over the two-year period.
Canada has 12 Halifax-class frigates, which were commissioned between 1992 and 1995. The Halifax upgrades are expected to be completed in the 2017 timeframe. ■