Federal and provincial governments are investing over $3.1 million to build a new Cybersecurity Innovation Centre in Fredericton, New Brunswick.

An announcement on Tuesday said the Atlantic Canada Opportunities Agency will be committing a $3.1 million non-repayable contribution through its Business Development Program while Opportunities New Brunswick is contributing an additional $956,000. This will help establish infrastructure and an innovation and testing centre at Fredericton's Knowledge Park.

In late May, Siemens, a multinational engineering and electronics company, announced its decision to establish the centre in Fredericton. The province is also home to CyberNB, the only government-mandated agency to focus on growing the cybersecurity industry.

“Developing world-leading clusters in areas where the innovation and expertise already exists makes good business sense,” said Matt DeCourcey, Fredericton’s MP in a statement.

“This new centre will enhance the region’s capacity in innovation and cybersecurity, positioning New Brunswick as the place to operate cybersecurity enterprises."

The centre aims to provide opportunities to New Brunswick companies and researchers in the IT sector to keep up with evolving cybersecurity technologies.

It will give space for collaboration in research and development and skills development in cybersecurity. It will also foster connections and partnerships between government, academia and industry in cybersecurity throughout Canada.

Dominic LeBlanc, the Minister of Intergovernmental and Northern Affairs and Internal Trade, said in the statement: “It is very encouraging to see New Brunswick poised to become a leader in the cybersecurity industry, with Fredericton growing into an industry hub.”