The Canadian government's aid to Bombardier supports aerospace innovation

MONTRÉAL, Feb. 8, 2017 /CNW Telbec/ - Aéro Montréal, Québec's aerospace cluster, welcomes the Government of Canada's decision to provide $372.5 million to Bombardier. These funds, made in the form of repayable loans, will be dedicated to research and development (R&D) activities for the Global 7000 and CSeries business jet programs.

"With this financial assistance, the federal government is sending a positive message to the entire Quebec and Canadian aerospace industry to encourage innovation," says Suzanne M. Benoît, President of Aéro Montréal.

The aerospace sector in Québec represents more than 40,000 jobs and 200 companies, including nearly 180 SMEs. More than 70% of Canadian aerospace R&D takes place in the Greater Montréal area. As such, the government's investment will have a direct impact on many local companies and will help to maintain and create quality jobs in Québec.

"This is an important milestone for the entire supply chain that will be impacted by this announcement," notes Ms. Benoît. "The involvement of both levels of government in innovation must continue in order to support our industry over the long term. By leveraging the aerospace sector, the government is looking to the future since new technological challenges are on the horizon for our SMEs, which want to remain among the best in the world."

About Aéro Montréal

Created in 2006, Aéro Montréal is a strategic think tank that groups all major decision makers in Québec's aerospace sector, including companies, educational and research institutions, as well as associations and unions.

Aéro Montréal's mission is to engage Québec's aerospace cluster with a view to increasing its growth and expansion on the global scene. Its vision is to become a benchmark in global aerospace. To this end, it champions the following values: excellence, engagement, collaboration, versatility and innovation.

 

SOURCE Aéro Montréal

For further information: Gwenaël Brisé, Manager, Communications, Aéro Montréal, Off: 514 987-9395 | Cell: 438 497-3857, gwenael.brise@aeromontreal.ca

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