OTTAWA: Ontario Premier Doug Ford has unveiled a comprehensive, 10-year strategic framework designed to scale up the province’s defence industry and attract massive global investments over the next decade. The Premier made the announcement while attending CANSEC, Canada’s leading global defence and security trade show held in Ottawa.
Under the new framework—titled the Ontario Defence Industrial Strategy (ODIS)—the provincial government expects to create up to 43,000 high-paying jobs. By 2035, the strategy is projected to inject $6 billion into Ontario’s economy and generate more than $400 million in annual provincial tax revenues.
A Critical Role in Global Supply Chains
Provincial officials highlighted that as Canada and its international allies prepare to make generational investments in national security, Ontario’s advanced technological and manufacturing capabilities place it in a prime position. The strategy aims to establish Ontario as a highly secure, reliable partner within both domestic and allied global defence supply chains.
This provincial push aligns with central commitments made on the federal stage. Last June, Prime Minister Mark Carney assured NATO allies that Canada would boost its core defence spending by 3.5% over the next decade. Furthermore, the federal government plans to allocate 1.5% of the GDP toward defence-adjacent sectors, such as emergency preparedness and transit infrastructure. This includes a massive federal commitment of $81.8 billion in additional funding over the next five years.
Toronto Enters the Race for New “Defence Bank” HQ
The announcement comes as Canada prepares to host the global headquarters of the newly formed “Defence, Security and Resilience Bank” (DSRB)—a multilateral institution established by allied nations to finance defence procurement, bolster supply chains, and fund infrastructure resilience.
While the federal government has confirmed Canada as the host nation, Ottawa has not yet decided which city will secure the coveted headquarters. A fierce municipal competition has emerged, with major cities—including Toronto, Montreal, Ottawa, and Vancouver—all actively vying to host the international financial institution.
