OTTAWA, April 2 /CNW Telbec/ - Industry leaders representing Canada's
aerospace sector welcomed the federal government's announcement of
$900 million of new funds destined for aerospace research and development
(R&D) in Canada over the next five years. Investment in R&D stemming from the
federal government's Strategic Aerospace and Defence Initiative (SADI) are
central to the continued growth and success of Canada's aerospace industry.
According to AIAC chair, Don Campbell, "The new program will require
aerospace companies to invest three to four dollars of their own capital for
every federal dollar received. It's a risk-sharing partnership that is
critical to sustaining the more than $1 billion our companies invest each year
in aerospace R&D in Canada."
Canada reaps significant economic benefit from the global
commercialization of Canadian aerospace technologies developed with federal
assistance. Access to these new SADI funds presents a renewed and compelling
incentive for firms to pick Canada as a choice location for aerospace R&D
activity while yielding a handsome return on Canadians' investment.
Peter Boag, AIAC president and CEO said, "While we're pleased by the
government's announcement, the devil is in the details. We look forward to
working with government officials to iron out the details surrounding SADI's
implementation. Canada needs a versatile, flexible framework to meet the
shifting political and economic realities that define the aerospace industry's
Further information on the federal Strategic Aerospace and Defence
Initiative can be found at www.ito.gc.ca.
The AIAC is the national trade association representing Canada's
aerospace manufacturing and services sector - the fourth largest aerospace
industry in the world, employing more than 75,000 Canadians. The organization
represents the interests of more than 400 companies in every region of the
For further information:
For further information: Eric Alexander, director, communications, (613)
760-4562, firstname.lastname@example.org; www.aiac.ca