Mr. Speaker, I will be sharing my time with my hon. colleague for Brampton North.
As many have said, the decision by GM today is a deeply disappointing one. While we understand this is part of its global restructuring plan and affects its operations globally, I cannot start to understand how devastating this must be for the men and women whose jobs are affected, along with their families and community.
Although I represent a riding from Quebec and have lived the last 30 years of my life there, some people will remember that I grew up in Niagara, and General Motors in St. Catharines was a very important part of our ecosystem. I had a cousin who worked there and family members. We knew what was happening with GM and the ecosystem. We understood its impact whenever there was a downturn in the market or an adverse decision was being made.
I understand full well that today's news will have a significant impact on the community of Oshawa surrounding that plant, the network of suppliers that support the Oshawa plant, as well as the other U.S. plants impacted by the General Motors announcement. General Motors has a long and storied presence in Oshawa, going back over 100 years, and it is simply devastating to hear of this plant's closure.
While GM has made this decision in the context of its overall global restructuring plans, a plan that is closing multiple North American plants as well as three global facilities, it is important to highlight that this is not a reflection of the workforce in Canada. Canada's auto workers, and particularly those in Oshawa, have a global reputation as highly skilled and award winning workers.
We will continue to work closely with our provincial counterparts to help those affected by this closure. We are committed to supporting the workers and the community of Oshawa during this difficult time.
We are also committed to providing assistance to those affected directly by this closure. The government will deliver benefits to employees as they are entitled, with a quality of service that they deserve.
A range of support services and programs is currently available and can be deployed quickly to help workers who may be affected. These services include employment insurance benefits, counselling, job search assistance, and skills training and development provided by the provinces and territories under labour market transfer agreements.
As a government, we will continue to monitor the situation and the impact on workers closely to ensure that those affected receive the assistance they need to quickly find new jobs.
Our government understands that the automotive industry is a vital component of our economy. Over half a million jobs in Canada directly and indirectly depend on the auto sector. Our government understands the importance of this sector and we remain committed to keeping Canada's automotive manufacturing sector globally competitive and innovative.
Our government's support for innovation in the auto sector is an essential component of our plan to stimulate economic growth and create better opportunities for Canadians.
To that end, we are building on several key policy initiatives to strengthen Canada's auto sector by supporting innovation and technology development and by creating the ecosystem that will help Canada become a leader in designing and building the car of tomorrow.
We have a plan that builds on and leverages the expertise in the industry and the expertise in technology shaping the industry's future. Our innovation and skills plan helps position Canada as a leader in the global economy with commitments to grow Canada's automotive footprint, support digital innovation and invest in clean technology.
The strategic innovation fund, now a $2 billion program, has provided funding to support innovative projects in the automotive sector. Since November 2015, our government has invested $389 million in 37 projects undertaken by Canada's automotive sector, resulting in leveraging of nearly $4.1 billion in total investments in the sector.
In addition to this, 23 other projects were announced without any federal government support, leading to a minimum of $1.5 billion in additional automotive sector investments. It is about the ecosystem and we are investing in it.
For example, and as mentioned previously, earlier this year we provided $49 million to create 1,500 new jobs and maintain another 8,000 to help Linamar Corporation launch a new innovation centre in Guelph, Ontario, and I am seated next to the member for Guelph and honoured he is beside me this evening, dedicated entirely to research and development.
Furthermore, in May, we provided $110 million for Toyota Motor Manufacturing Canada in Cambridge, Ontario, that will help retain 8,000 jobs, create another 450 new jobs and provide 1,000 more co-op placements. That is our future, making Toyota's Canadian plant the largest producer of Toyota hybrid vehicles in North America.
Our innovation superclusters initiative announced earlier this year will invest up to $950 million to support business-led superclusters with the greatest potential to energize the economy and become engines of growth. This new fund is encouraging cross-sector partnerships in investment in areas such as advanced manufacturing, which has a direct impact on the Ontario automotive sector in particular, as well as digital technology and artificial intelligence, all of which go to support the car of the future.
I welcome what was said just a moment ago by the member for Saanich—Gulf Islands with respect to encouraging the kinds of disruptive technologies that will in fact make our economy of the future that much stronger.
Thanks to our global skills strategy, it is now easier for businesses to recruit the talent they need, which helps Canadian businesses grow their operations and create more jobs. The strategy comes with $39.4 million in funding over five years starting in 2017-18 and $6.7 million annually thereafter.
We launched a new agency called Invest in Canada to attract international investments and make it easier for businesses to set up shop in Canada.
In addition to these policies, we are continuing to encourage investments through tax policy. In the fall economic statement last week, my colleague, the hon. Minister of Finance, proposed some important changes to Canada's tax system to encourage more investments, including accelerated write-offs on new investments, with the overall tax rate in Canada on new business investment falling from 17% to 13.8%.
We have heard from Canadians who told us that we needed to work on our competitiveness, and we have with these very measures.
We will continue to work closely with industry, the provinces, municipalities, unions and all other stakeholders to protect and grow Canada's auto industry.
As the second largest manufacturing sector in Canada, the auto industry generates roughly 130,000 jobs and contributes $18.1 billion to the GDP. This sector is vital to our economy, and we are deeply committed to supporting it.
As technology is rapidly transforming the future of mobility to one that is connected, automated, zero emission and shared, the government continues to amplify Canada's automotive manufacturing strengths, innovative research capabilities, technological expertise and talent. Together, with a robust supply chain comprised largely of small and medium-sized enterprises, these strengths contribute to the ecosystem, which makes Canada a location of choice for the design, development and manufacturing of the car of the future.
Our hearts go out to the people of Oshawa. Our government has said that it will remain open to all possibilities to not just help those workers or the transition that may happen, but also to continue to invest in the automotive ecosystem, not just in southern Ontario and not just in Oshawa, but across Canada, when we talk about those supply chains.