Business leader says he hopes Greater Victoria gets fair share of submarine money

VICTORIA — A business leader in Greater Victoria says he hopes the region will get a fair share of the largest defence procurement in Canadian history.

Prime Minister Mark Carney announced in Halifax today that Canada has chosen German defence manufacturer TKMS as the preferred supplier of up 12 submarines.

John Wilson, CEO of the Greater Victoria Chamber of Commerce, says Ottawa’s decision means more high-paying jobs for the region, which is home to Canada’s Pacific fleet at CFB Esquimalt.

He says his organization will continue to work with governments to make sure regional companies will have a chance to contribute to the various supply chains connected to the project.

Stephen Fuhr, secretary of state for defence procurement, says the economic benefits for the region will be substantial, but he could not give exact figures, because negotiations with TKMS are just starting.

Fuhr says the project will create thousands of jobs in the region, although the final figure depends on how many submarines Canada will eventually purchase from the consortium, which beat South Korea’s Hanwha Ocean for the contract.

This report by The Canadian Press was first published July 6, 2026.

Wolfgang Depner, The Canadian Press