Originally known as the Industrial and Regional Benefits (IRB) Policy, the Industrial and Technological Benefits (ITB) Policy was launched in 2014. The ITB Policy requires companies that are awarded defence procurement contracts to undertake business activity in Canada equal to the value of the contract. The Policy applies to all eligible defence procurements with a value over $100 million.
Between 2011 and 2015, the ITB Policy resulted in $1.75 billion being invested in 375 small and medium-sized enterprises (SME). These investments helped embed these SMEs into supply chains with long-term growth opportunities.
During the same time frame, the policy supported research and development at 45 Canadian post-secondary and research institutions at a value of $82 million. Innovation investments create commercialization opportunities across sectors. The policy investments helped to maintain or create 39,000 jobs annually across Canada.