Robotics, Advanced Manufacturing and Industry 4.0 initiatives
The post COVID 19 marketplace will pose challenges, but there will also be opportunities to strategically transform manufacturing operations with Industry 4.0 initiatives. A recent McKinsey survey of manufacturing and supply-chain professionals found that 90 percent plan to invest in talent for digitization and 93 percent plan to focus on the resilience of their supply chain.
In this regard, IP Park is planning on building Canada’s first Robotics and Advanced Manufacturing Campus utilizing Industry 4.0 initiatives to fulfill the growing need to;
- utilize robotics and automation to respond to increased operational risks due to COVID 19
- accelerate the use of robotics in the fast-growing development of on-line distribution facilities
- improve the local manufacturing “supply chain” so Canada will not be beholden to other countries
- increase research in technologies, such as battery storage, that will improve automation in the workplace
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Figure 1; Source – McKinsey and Partners
Waterloo Region also has one of the most integrated manufacturing and technology ecosystems in the country and is home to both global multi-nationals; as well as local start-ups and scale-up companies. This combination of large and small companies; coupled with world-class research and innovation; provides an ideal opportunity for progressive companies to thrive.
IP Park is ideally located within a Provincially Significant Employment Zone (PSEZ), which also includes the Toyota vehicle plant and other large-scale industrial users. IP Park and surrounding lands total over 7,000,000 sf of new development and represents one of the largest industrial clusters in Canada
The Region is also home to the University of Waterloo and Conestoga College, which collectively have over 60,000 undergraduate students, and this provides a “continuous pipeline” of high-quality robotics and automation talent.
In summary, the focus on robotics, advanced manufacturing and Industry 4.0 initiatives will position IP Park as one the most preeminent business parks in Canada.