CIAC Applauds $35 Million Federal Contribution To Nova Chemicals’ $2.2 Billion Canadian Investment
January 23, 2018
The Chemistry Industry Association of Canada (CIAC) today welcomed the news that the federal government will contribute $35 million to NOVA Chemicals’ $2.2 billion investment establishing the previously announced new polyethylene facility and expanding an existing ethylene facility in Ontario along with expanding research and development capabilities at its facilities in Alberta and Ontario. NOVA Chemicals’ investment will help create and maintain 2,200 jobs in Alberta and Ontario, and will further develop proprietary technology.
NOVA Chemicals is one of North America’s largest producers of polyethylene, the most widely used plastic material in the world. Polyethylene resins are used in applications such as food packaging; injection molding applications including caps and closures; and in rotational molding applications like dumpsters and industrial storage containers.
“Canada’s chemistry industry is essential to supporting Canada’s low‑carbon energy future,” said Bob Masterson, President and CEO of CIAC. “With the right policies and assistance from government, the chemistry sector could attract $25 billion in new investments by 2025. The positive impact of this new investment will not only spur economic growth and drive innovation — it will leverage the already considerable contribution that the chemistry sector makes to meeting the rapidly growing global market demand for inputs and products with lower carbon intensity,” continued Masterson. “We’d like to thank the federal government and Minister Navdeep Bains for the support provided to this particular project through the Strategic Innovation Fund. This contribution complements the $100 million provided through the Province of Ontario’s Jobs and Prosperity Grant program, announced in December.”