OTTAWA - A former Liberal cabinet minister says Canada's new perimeter security deal with the United States will create jobs and stimulate growth in both countries.

John Manley, head of the Canadian Council of Chief Executives, says the estimated $1-billion cost of the pact will be money well spent that will pay dividends over time.

Manley, a former Liberal foreign affairs minister, tells The Canadian Press the deal will provide a big "payback'' by creating jobs on both sides of the border.

Sources say the deal will result in more spending on border infrastructure and other programs to bring Canada in line with the U.S.

The deal is set to be announced but the Conservative government is still trying to arrange a high-profile launch that would include Prime Minister Stephen Harper and U.S. President Barack Obama.

Opposition MPs have accused the government of giving away too much to the Americans in secretive talks.