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According to Semiconductor Sectoral Analysts at Industry Canada, the Canadian microelectronics industry, which is a US$2.96 billion (CDN$4.1 billion) sector (1997) employing 8,000 people, has the potential to employ 21,000 and to generate US$15 billion (CDN$21 billion) in revenues by 2005. The CAGR of the last decade has been 15 percent, but sales are now expanding at a quicker rate and are expected to continue to do so over the next five years and beyond.
Canada has only three wafer fabrication plants. These are owned by Northern Telecom (NORTEL), Mitel Corporation, and Gennum Corporation. Canada has been trying to attract investors interested in building additional semiconductor fabrication plants, but has not yet been successful. No new wafer fabrication plants have been built in Canada since the 1970s.