My friends, it’s a pleasure to be back in Cambridge to celebrate some great news for the people of Ontario and for all Canadians. Now, there’s been a lot of talk about the future of Canada’s auto sector in recent years. It’s no secret that the industry has gone through a great deal of change. Advances in technology, coupled with the globalized economy, have caused some sometimes painful disruptions. Some workers lost their jobs while others had to relocate to keep theirs.

That is something I often hear, not just in southern Ontario, but across Canada. The last few years have been difficult, but activities are now starting up again because, as you know, Canadian businesses and workers are resilient. They did not lose hope during this difficult time. They continued to work hard and seize opportunities to apply their expertise. Our government has also taken action: in 2017, we launched the Strategic Innovation Fund, a $1.6 billion program to support research and development, stimulate innovation and attract investments that create good jobs for the middle class. It’s with initiatives like this one that Canada has earned a place on the world stage as an innovation leader.

Our government also stood up for Canadian interests on the world stage. We promoted Canadian industry and talent every chance we had, including at the negotiating table. Just recently we concluded the Comprehensive and Progressive Agreement for Trans‑Pacific Partnership. The agreement will generate significant economic benefits for Canada, including access to Japan and other fast-growing markets across a wide range of economic sectors.

Agreements like this one are key to creating good, well-paying jobs for the middle class and for people working hard to join it, not only today, but well into the future. These measures support Canada’s competitiveness and build our capacity to do the kind of advanced automotive research and production that companies like Toyota want to do more of. Canadians and their government did their part, and now it’s clear that companies like Toyota are also ready to do theirs.

Today Toyota is announcing a $1.4 billion investment in its Cambridge and Woodstock plants, and to support this investment the Government of Canada will be contributing $110 million in partnership with the Government of Ontario, which will match our investments.

And that’s such good news that I’m going to repeat it in French.

Today Toyota is announcing a $1.4 billion investment in its Cambridge and Woodstock plants, and to support this investment the Government of Canada will be contributing $110 million in partnership with the Government of Ontario, which will match our investments.

Together these funds will help secure more than 8,000 jobs and create 450 new jobs and a thousand new co-op placements and make Canada the largest producer of Toyota hybrid vehicles in North America.

These vehicles will be significantly more fuel-efficient, and improvements in the manufacturing process will reduce volatile organic compound emissions in select shops by 10%. Toyota will also increase its research and development investments in Canada by $200 million. This commitment to R&D and technologically advanced vehicle production is tremendous news for southern Ontario’s long-term economic success. It’ll solidify a supply chain of 60-plus Canadian companies and position Canada to establish a hybrid ecosystem. Today’s announcement will bring Toyota’s most advanced manufacturing capabilities to our communities and help keep our auto sector and the 500,000 Canadians it employs globally competitive.

Toyota understands that Canada is the right place to expand the scope of its activities. We have a well-trained workforce and a network of SMEs specializing in clean technologies, which continue to grow. By choosing Canada, Toyota is confirming Canadians’ ingenuity and immense potential. It’s proof that Canada is a destination of choice for investment.

This landmark investment is proof that our plan to grow the economy and create better opportunities for Canadians is working. This is a great day for the auto sector, for Ontarians, for Canadians and for Toyota.