FOR IMMEDIATE RELEASE

February 2, 2010

OTTAWA – The Chemistry Industry Association of Canada looks forward to the results of the Roadmap to Recovery Summit on Feb. 2. As the voice of Canada’s $26-billion chemistry industry, the Association urges governments to recognize that the manufacturing sector has not recovered from the recession, and that Canada needs to ensure its energy, environmental, health, transportation and tax policies support global competitiveness.

“Canada has huge resources: minerals, oil, gas, forests and agricultural products. Through chemistry, our industry can maximize their value in the most sustainable way possible,” says Association president, Richard Paton.

The Association is advocating for an extension of the accelerated capital cost allowance for a full five-year period. This provision allows manufacturers to write off capital investments more quickly and will enable Canada to compete with major investments in the United States. With a five-year accelerated capital cost allowance, the Association believes the chemistry industry can reverse its decline in investment and position itself to create jobs and value-added products, while continuing to reduce emissions.
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For more information, contact:

Michael Bourque, Vice-President, External Relations 613-237-6215 x 225