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Minister Joly highlights major investments in college-led applied research from Spring Economic Update 2026: Canada Strong for All

Press Release

From: Innovation, Science and Economic Development Canada

May 7, 2026

In Budget 2025, we outlined our plan to build Canada strong. Since then, we have moved fast to build the major infrastructure, homes and industries that grow Canada’s economy and create lasting prosperity; empower Canadians with better careers and a more affordable life; and protect our communities, our borders and our way of life.

We delivered concrete savings for Canadians while supporting key national priorities and keeping investments focused on results. We are maintaining a strong fiscal position, with the Spring Economic Update 2026 showing that projected deficits are lower over the fiscal horizon and that we are on track to meet our fiscal anchors.

The Spring Economic Update 2026 is the next step in our plan to build Canada strong for all. It provides a clear update on the strength of Canada’s economy, giving Canadians confidence in our plan. It delivers targeted relief to make life more affordable, support workers and accelerate the construction of homes and major infrastructure. It also strengthens Canada’s competitiveness and economic growth while investing in strong, safe communities across the country.

Today, the Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, highlighted the government’s $165 million investment to bolster Canada’s applied research capacity through the College and Community Innovation (CCI) program. Minister Joly was joined by Michael Coteau, Member of Parliament for Scarborough–Woburn, at Centennial College in Scarborough, Ontario, where they met with students, researchers and faculty to celebrate and underscore the vital role that science and research play in building a strong, forward-looking economy. The $165 million in federal investments will be delivered by the Natural Sciences and Engineering Research Council of Canada and will come from the Canada Strong Fund.

This investment, proposed in the Spring Economic Update 2026, will empower communities, bolster the Canadian workforce and help businesses adapt and succeed. The CCI program enhances research partnerships between Canadian colleges and other institutions—including universities and organizations from the private, public and not-for-profit sectors—all united by the goal of generating economic, social, health and environmental benefits for Canada. By investing in Canadian research and cutting-edge projects, the CCI program reduces barriers for partner organizations to collaborate and to tap into the extensive resources available within Canada’s world-renowned innovative college ecosystem.

The Government of Canada is transforming our economy from reliance to resilience. The Spring Economic Update 2026 ensures all Canadians can participate in building Canada strong and share in its success. Other key measures include:

  • The Canada Strong Fund—Canada’s first national sovereign wealth fund. This will invest in key, strategic Canadian projects and companies. While Canadians will benefit from these nation‑building projects through jobs, economic growth and greater security, the government is determined to ensure that Canadians also have a stake in the projects themselves. That’s why a unique and important feature of the Canada Strong Fund will be its new retail investment product. This allows Canadians to receive financial returns as we build Canada strong together.
  • Team Canada Strong—a new nationwide effort to recruit, train and hire 80,000 to 100,000 new skilled trade workers by 2030–31. This initiative creates new opportunities for Canadians and attracts the workers needed to build more homes and major projects at speed and at scale.
  • Building Stronger Communities—by making communities safer, more connected and more resilient. We are building more homes, getting tougher on crime and fraud, and funding essential infrastructure, including small-craft harbours that sustain coastal communities and local jobs. We are also investing to build healthier, safer and stronger Indigenous communities.

We are building a Canada that is not just strong, but good; not just prosperous, but fair. A Canada that is not just for some, most of the time, but for all, at all times. We’re building Canada strong, for all.

Quotes

“The Spring Economic Update 2026 builds on the momentum of our budget, combining strategic investments with sustained fiscal discipline to keep building Canada strong for all—delivering prosperity today and strengthening our economy for tomorrow. At this pivotal moment in Canada’s history, we’re charting a course through the fog of uncertainty and global headwinds with strength, determination and ambition—and building one strong Canadian economy, by Canadians, for Canadians.”
– The Honourable François-Philippe Champagne, Minister of Finance and National Revenue

“As other countries turn away from science and research, Canada is investing strategically through the Canada Strong Fund to bolster our research capacity. The significant investments in the College and Community Innovation program proposed in the Spring Economic Update 2026 shows that our government is delivering results on our plan to build a strong and resilient Canadian economy for all Canadians.”
– The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions

“This investment is great news for Scarborough and for Canada. As our country grows and changes, colleges like Centennial are at the centre of that change, helping students gain the skills they need, supporting applied research and working with local partners to solve real-world challenges. This funding will create more opportunities for people in Scarborough and strengthen Canada’s economy for the future.”
– Michael Coteau, Member of Parliament for Scarborough–Woburn

“At Centennial, applied learning isn’t theoretical—it is lived. Last year, more than 700 of our students partnered with industry through paid applied research internships, solving real-world problems and driving innovation. This investment in the College and Community Innovation program recognizes the role of colleges, polytechnics and institutes in building Canada’s talent and innovation capacity, while strengthening our ability to deliver on national priorities, including housing, infrastructure, clean energy and defence.”
– Dr. Craig Stephenson, President and CEO, Centennial College

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Contacts

Gabrielle Landry
Deputy Director, Media Relations
Office of the Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions
gabrielle.landry@ised-isde.gc.ca

Media Relations
Innovation, Science and Economic Development Canada
media@ised-isde.gc.ca

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