The Government of Canada is pledging $357 million towards a new Regional Defence Investment Initiative.
The program aims to help small and medium-sized Canadian businesses enter industries relating to defence and military procurement.
The Federal Economic Development Agency for Northern Ontario (FedNor) will be spending almost $16 million over the next three years to assist businesses in northern Ontario with transitioning or adapting into the industries.
Businesses can apply for investments from the initiative to enter fields including research and innovation, and domestic supply chain development.
This announcement comes as the Canadian government looks to increase its military spending to meet NATO targets.

