The National Shipbuilding Procurement Strategy (NSPS) will create jobs and generate significant economic benefits in shipbuilding and related industries across Canada. It will involve skilled work in a variety of sectors, such as steel manufacturing, information technology, and defence systems development and integration. Small and medium-sized enterprises across the country will benefit through the construction of large and small vessels, as well as work related to repairing and refitting.

In October 2011, the NSPS Secretariat announced their decision for two significant shipbuilding contracts for Canada .

Irving Shipbuilding Inc. has been selected to build the combat vessel work package (21 vessels), and Vancouver Shipyards Co. Ltd. has been selected to build the non-combat vessel work package (7 vessels). The total value of both packages is $33 billion and the work will span 20 to 30 years. The Government is now moving ahead with two initiatives designed to assist small and medium-sized enterprises in benefitting from the NSPS activity being driven out of Irving Shipbuilding and Vancouver Shipyards:

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