Jun 21, 2017   SOURCE: PR NewsWire

Government of Canada promotes global investment in the country's world-class aerospace sector

Minister Bains leads delegation at 2017 International Paris Air Show and marks the creation of more than 190 well-paying jobs

OTTAWA, June 21, 2017 /CNW/ - Global companies invest in Canada's world-class aerospace industry because it is globally integrated, export-oriented and innovation-driven. Behind the industry's global leadership in innovation are the talents of a highly skilled workforce and a commitment by the Government of Canada to invest in the sector's global competitiveness, which creates well-paying middle-class jobs for Canadians.

That was the message delivered at the 2017 International Paris Air Show by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. 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.

Minister Bains led a delegation of 420 representatives from more than 130 Canadian aerospace companies. He was joined by the Honourable Marc Garneau, Minister of Transport; the Honourable François-Philippe Champagne, Minister of International Trade; and Steven MacKinnon, Parliamentary Secretary to the Minister of Public Services and Procurement.

While at the show, Minister 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, Minister 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.

Quotes

"Now is the time for the world to invest in Canada's aerospace industry. 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 Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

"It has been a great pleasure to engage with successful Canadian companies doing business abroad. These firms create good jobs and represent our country with pride. This event facilitates productive discussions with key international aerospace industry leaders to advance Canada's economic interests. Business opportunities created at this international air show enable the growth of our companies and enhance their recognition on the world stage."
- The Honourable Marc Garneau, Minister of Transport

"Canada is a preferred destination for trade and investment in aerospace, thanks to the strength and competitiveness of our industries, our strong commercial ties with our trading partners, and our reputation as an open and progressive trading nation. I am happy that Canadian companies signed important commercial agreements that will benefit Canada's aerospace industry , hence the good jobs that depend on it."
- The Honourable François-Philippe Champagne, Minister of International Trade

"Canada's aerospace sector remains the envy of the world. The Paris Air Show provided an important opportunity to hear first-hand from vendors about their thoughts on Canada's planned purchase of 88 fighter jets. During the meetings, vendors took the opportunity to express their satisfaction with the Government's commitment to an open, fair and transparent competition. This will ensure our women and men in uniform receive the equipment they need, while ensuring maximum value for Canadians by creating opportunities for Canada's innovative aerospace companies."
- Steven MacKinnon, Parliamentary Secretary to the Minister of Public Services and Procurement

Quick facts

    --  In 2016, the aerospace industry contributed $28 billion in GDP and
        208,000 jobs to the Canadian economy.
    --  Aerospace accounts for close to 30 percent 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 percent 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.

Associated links

    --  Government of Canada supports leading international aerospace player's
        decision to establish a presence in Quebec
    --  Funding for six Quebec SMEs linked to the aerospace industry

Follow Minister Bains on Twitter: @MinisterISED

SOURCE Innovation, Science and Economic Development Canada