MONTRÉAL, May 21, 2024
/CNW/ - Today, the Honourable François-Philippe Champagne, Minister of Innovation,
Science and Industry, welcomed an important Boeing investment in
Quebec's new aerospace innovation
zone in the Montréal region.
Part of Boeing's Industrial and Technological Benefits
commitment to Canada for selecting
the company's P-8A Poseidon as its future maritime patrol aircraft,
this $240 million investment includes
funding for a state-of-the-art aerospace development centre and
strategic investments in two Montréal-based industry leaders,
Héroux-Devtek and Wisk.
This Boeing investment in Quebec builds on more than $2 billion in P-8 contracts with Canadian
companies to date, contributing jobs and economic growth across the
country.
The aerospace sector is one of the most innovative and
export-driven industries in Canada, generating more than 210,000 jobs and
contributing an estimated $27 billion
in annual economic benefits.
Quote
"Our government continues to play a vital role in the growth of
Quebec's aerospace industry.
Today's announcement is a concrete example of our aerospace
economic benefits policy at work. With this important investment,
Boeing is helping to strengthen Canada's position as a global aerospace supply
chain leader, driving innovation and creating high-quality jobs for
Canadian workers."
– The Honourable François-Philippe
Champagne, Minister of Innovation, Science and Industry
"Quebec's aerospace cluster is
a cornerstone of our economy and supports well-paying jobs for
Canadian workers. Major defence procurement projects enable us to
not only strengthen the operational capabilities of our armed
forces, but also to ensure that companies in the Canadian supply
chain can benefit from significant economic spin-offs. The
International Aerospace Innovation Forum once again underlines the
Canadian government's commitment to the innovative work of the
Canadian defence and aerospace industry."
– The Honourable Jean-Yves Duclos , Minister of Public
Services and Procurement
"The creation of Espace Aéro is the culmination of many years of
collaborative efforts to accelerate the sustainable transformation
of our industry. By focusing on decarbonization and autonomy,
Espace Aéro will serve as a showcase for Québec: a powerful lever
for attracting tomorrow's talent and local and international
recognition."
– Mélanie Lussier, President and CEO of Aéro Montréal
Quick facts
- Boeing's investment in Montréal as part of its Industrial and
Technological Benefits (ITB) commitment includes $95 million to Wisk for the development of the
6th-Gen eVTOL autonomous commuter air taxi, $35 million to Héroux-Devtek for a next-gen
landing gear research and development project, and $110 million for the creation of an aerospace
development centre to host aerospace research and development
focused on decarbonization, electrification, autonomy,
digitalization and advanced materials.
- Canada's ITB Policy applies to
the Canadian Multi-Mission Aircraft (CMMA) project and will ensure
that the Boeing Company undertakes meaningful business activities
and makes targeted investments in Canadian industry.
- Boeing has contractual ITB commitments of CAD$5.4 billion. The company has 10 years to
achieve these commitments.
- Canada's regional development
agencies, including Canada Economic Development for Quebec Regions,
actively work with Innovation, Science and Economic Development
Canada and companies such as Boeing to implement the Government of
Canada's ITB Policy and find
structural investment projects benefitting the Quebec and Canadian economy.
- Through these business activities, Boeing is expected to
generate over 3,500 jobs annually in Canada and contribute nearly $485 million annually to Canada's gross domestic product (GDP).
Associated links
- Canada purchasing up to 16
P-8A Poseidon Multi-Mission Aircraft for the Royal Canadian Air
Force
- Aerospace and defence
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SOURCE Innovation, Science and Economic Development Canada