Mr. Speaker, this morning I was pleased to open the 12th annual BioNorth, Canada's international biotechnology and life sciences conference and exhibition presented by the Ottawa Life Sciences Council. I am proud to say that the Montreal, Ottawa and Toronto biotech triangle is second in the world only to California's cluster.
This year, BioNorth focuses on the commercialization of Canada's extensive and tremendous level of research. Our government has committed more than $2 billion over the next five years to sustain Canada's global lead in university-based research.
Thanks to an outstanding business climate, the private sector is now spending more than $3 billion a year in life sciences R and D and is responsible for over 70,000 Canadian jobs.
Innovation is at the core of Canada's economic success. We are working hard with Canada's entrepreneurs and Canada's investors to secure innovation, growth and prosperity for all Canadians.