The Quebec government is pumping $334 million into Quebec’s aerospace industry.
The investment updates Quebec’s Aerospace Strategy Horizon 2025 program.
The strategy includes self-financed measures and additional credits of $95 million that will support total investments (public/private) estimated at nearly $2.8 billion for the next two years.
This new version of the Québec Aerospace Strategy is the result of collaboration between the Québec government and stakeholders in the Québec aerospace industry. Grouped under the Alliance for the Recovery, a strategic committee was created in May 2020 under the direction of the board of directors of Aéro Montréal to accelerate the sector’s emergence from the crisis, to revive the industry based on its needs and to propose appropriate solutions to meet them in collegiality with the Ministry of Economy and Innovation.
At the heart of the new government strategy’s priorities are three main areas:
- accelerating innovation in order to integrate the technologies of tomorrow;
- learning from the crisis by focusing on diversification into promising niches for companies;
- and strengthening the value chain and its place on world markets.
“It is a pact of trust between the industry and the government that will stimulate the revival of the sector, building a stronger and more sustainable future for the next generation of talent. This strategy will definitely be a key factor in making aerospace a strategic pillar of Québec’s economic recovery,” said Suzanne M. Benoît, President of Aéro Montréal.