To attract and retain world-leading genomics researchers, the Ontario government has announced $100 million in new funding for collaborative research projects.

The fund will create highly-skilled jobs in research and technology for globally-significant, research projects headquartered in Ontario.

“Today's announcement is about the fact that Ontario understands the value of science to our economy,” said John Wilkinson, Minister of Research and Innovation. “We value the work that our world-leading scientists do and the wealth and jobs that they help to create.”

Mick Bhatia, scientific director of the McMaster Stem Cell and Cancer Research Institute was at the announcement.

“As a scientist in this field, we're seeing exponential growth of discoveries practically monthly. Ontario has developed excellence and expertise in these sectors that has placed the province among world leaders for basic science. This kind of motivating investment will see us establish a sector that will be a magnet to attract more scientists and investment to the province.”

Peter George, president of McMaster, said: “This is an internationally important competition focused on the highest level of research and it will put Ontario in a strong position to be the leader in significant advances in stem cell and genomics research.”

The Ontario government has made investment in research and innovation a cornerstone of Ontario's economic plan since 2003.