McMaster to launch $28.4M eco-friendly automotive and aerospace hub
IHub will create 170 jobs, training for 200 people and support 230 small and medium enterprises
McMaster University will run a new multi-million hub and collaborate with automotive and aerospace giants to test and develop electric, self-driving and energy-efficient technology.
MP Filomena Tassi (Hamilton West–Ancaster–Dundas) announced "iHub" on Monday, saying $10 million will come from the federal government and some $16.8 million will come from companies including Ford, Honda, Bombardier, Stellantis (Fiat Chrysler) and De Havilland and Mitsubishi Heavy Industries.
Together, they'll work at McMaster's Innovation Park to develop and test 100 products or services, ranging from self-driving vehicles to energy-efficient aircrafts.
"It's going to attract companies leading in the way of electric vehicle production to come here," Tassi said in an interview after the announcement.
The ultimate goal is to boost Canada's presence in these industries while also reaching its target of net-zero greenhouse gas emissions by 2050.
The hub will supply 170 jobs, provide training for at least 200 people and support more than 230 small and medium-sized enterprises between Windsor and Oshawa.
Tassi said iHub will "expand opportunities for local suppliers from across southern Ontario to integrate into global supply chains."
McMaster president David Farrar said the investment spans beyond the university.
"This is about leveraging our expertise to create opportunities for our city, our region and our country," he said.
The total funding cost of the project is $28,490,275 with project completion by 2024, though iHub will continue to run afterward.