The Canadian government thinks global companies should invest in Canada’s world-class aerospace sector and that’s the message it delivered at the 2017 International Paris Air Show, which runs June 19 to 25.
“Now is the time for the world to invest in Canada’s aerospace industry,” said Navdeep Bains, Minister of Innovation, Science and Economic Development, during the Paris Air Show. “At a time when companies can source their talent, goods and services from anywhere in the world, global companies are investing in Canada because of the talents of the highly skilled men and women who work in this country’s aerospace sector. They also invest in Canada because our government partners with the sector to develop next-generation technologies that enable this country’s aerospace companies to maintain their global leadership in innovation. That’s how innovation leads to better jobs and opportunities for Canadians.”
The show is a major opportunity for the Government to highlight innovation in the country’s aerospace industry and promote Canada as an ideal destination for aerospace investments from around the world.
Bains led a delegation of 420 representatives from more than 130 Canadian aerospace companies. He was joined by the Marc Garneau, Minister of Transport; François-Philippe Champagne, Minister of International Trade; and Steven MacKinnon, Parliamentary Secretary to the Minister of Public Services and Procurement.
While at the show, Bains announced a $2.2 million contribution, through Canada Economic Development for Quebec Regions (CED), to six aerospace companies that provide highly specialized equipment to the sector. More than 90 new manufacturing jobs will be created as a result of this investment.
He also announced a repayable contribution of $1 million, through CED, to F. List, an Austrian company that specializes in designing and manufacturing jet interiors. More than 100 middle-class jobs will be created in the Montréal region as a result of this investment, which will support the expansion of F. List’s first manufacturing facility in North America.
As part of their efforts to promote Canada as an investment destination for global companies, Bains and his colleagues held meetings with a number of leaders from international aerospace companies. And they highlighted the Government’s commitment to the aerospace sector through the Innovation and Skills Plan, a multi-year strategy to create well-paying jobs for the middle class and those working hard to join it.
In 2016, the aerospace industry contributed $28 billion in GDP and 208,000 jobs to the Canadian economy. Aerospace accounts for close to 30 per cent of total research and development investments in Canada’s manufacturing sector, making it the top R&D spender among all Canadian manufacturing industries. The Canadian aerospace industry exports more than 60 per cent of its products as part of a global supply chain.This year, the International Paris Air Show hosted more than 420 Canadians representing more than 130 companies.
