B.C. tech and shipbuilding firms eye boom from Ottawa’s defence push
CBC
Engineers and technicians move between racks of cables and control consoles inside OSI Maritime Systems’ Burnaby facility working on navigation systems for naval ships, work the company says will drastically increase as Ottawa commits billions of dollars in new defence spending.
“Right now we’re at the pinnacle of a new era,” said Jim Sinclair, the company’s president.
OSI builds high-tech ship bridges and navigation systems for the Royal Canadian Navy and 25 other navies around the world.
The company employs about 400 people, which is up sharply from 265 just three years ago, says Sinclair.
“This growth coming out of Canada alone is going to be dramatic over the next 10 years,” he said.
Shipbuilding and naval-tech firms say they are optimistic about the future as the federal government significantly increases defence spending to satisfy NATO allies who have long said Canada is falling behind on military funding.
Earlier this year, NATO leaders — including Canada — endorsed a plan to increase defence spending across the alliance to five per cent of GDP over the next decade. According to a NATO report from last year, Canada was estimated to spend roughly 1.37 per cent of GDP in 2024.
Ottawa’s recent federal budget announced $6.6 billion over five years on spending for its forthcoming defence industrial strategy.
For B.C., it’s a chance to stimulate the economy and create high-paying jobs, says Sinclair.
"It’s going to create a lot of jobs in British Columbia, a lot of jobs in Canada.”
British Columbia has also laid out a new 10-year plan, dubbed as the Look West strategy, to get major projects built faster, expand skills training and strengthen key sectors, including defence.
Part of the plan is for the province to secure 35 per cent of federal defence vessel contracts by 2035 with shipyard Seaspan as a strategic partner.
B.C. Jobs Minister Ravi Kahlon said the province is determined to ensure local workers and companies benefit from Ottawa’s increased spending.
“Billions of dollars are being invested,” Kahlon said.
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