At OSI Maritime Systems’ Burnaby facility, engineers and technicians are busy working on navigation systems for naval ships, anticipating a significant increase in workload due to Ottawa’s substantial investment in defense spending.
Jim Girard, the company’s president, expressed enthusiasm about the current phase, stating, “Right now we’re at the pinnacle of a new era.”
OSI specializes in constructing advanced ship bridges and navigation systems for the Royal Canadian Navy and numerous other naval forces worldwide.
The company has experienced a notable growth in its workforce, with approximately 400 employees compared to 265 just three years ago, according to Girard.
Girard anticipates a remarkable growth trajectory in Canada over the next decade, driven by the surge in defense spending.
Amidst the federal government’s substantial boost in defense expenditure to meet NATO obligations, shipbuilding and naval technology companies are optimistic about the future.
NATO leaders, including Canada, have endorsed a plan to elevate defense spending to five percent of GDP over the next ten years.
Recently, Ottawa announced a $6.6 billion allocation over five years for its upcoming defense industrial strategy in the federal budget.
Girard highlights the opportunity for British Columbia to stimulate economic growth and create well-paying jobs through the increased defense spending.
“It’s going to create a lot of jobs in British Columbia, a lot of jobs in Canada,” Girard emphasized.
B.C. pushing to secure its share
British Columbia has introduced the “Look West” strategy, a ten-year plan aimed at accelerating major projects, enhancing skills training, and fortifying key sectors, including defense.
The plan includes securing 35 percent of federal defense vessel contracts by 2035, with Seaspan shipyard as a strategic partner.
B.C. Jobs Minister Ravi Kahlon affirmed the province’s commitment to ensuring that local workers and companies reap the benefits of increased federal spending.