Ottawa, Ontario – Recent investments in automotive research and development by the Canadian government and the auto sector have generated more than $1.1 billion in estimated economic and social benefits for Canada. That’s the finding of an independent assessment of the AUTO21 Network of Centres of Excellence, Canada’s automotive research and development program.
The report said that AUTO21’s projects have provided a 12-to-one return on investment for the investors, as well as numerous benefits to Canadians at large through the development of safer, cleaner vehicles.
Also among the findings were a $1.124 billion benefit in total economic and societal benefits, including $700 million from prevention of life loss, personal injury and property damages; $125 million associated with employment and the formation of household income; $100 million in industrial process improvements; and $75 million in fuel savings. The program also creates or retains 2,200 jobs annually in Canada, including 600 R&D personnel and 1,600 indirect jobs.
AUTO21 was established through the Networks of Centres of Excellence program by the government of Canada in 2001 to help advance the country’s automotive R&D capabilities. Since then, AUTO21 has developed a national community of automotive research experts at more than 45 universities, and partnered with more than 300 private and public sector companies on over 90 research projects. The program has an annual research budget of approximately $11 million in public and private sector funding.