Aéro Montréal welcomes governments' commitment to support the sustainable recovery of the aerospace industry

MONTRÉAL, July 15, 2021 /CNW Telbec/ - Aéro Montréal, Québec's aerospace cluster, welcomes major investments confirming the strategic and economic importance of the sector. In a special announcement today, the governments of Québec and Canada provided $685 million to support the development of tomorrow's sustainable aerospace technologies.

This funding will support projects led by Bell Textron Canada, CAE and Pratt & Whitney Canada, representing investments of $2 billion in Canada, including nearly $1.6 billion in Québec.

A return to growth through innovation

With the support of governments, Bell Textron Canada, CAE and Pratt & Whitney Canada – three major players in the sector – have kicked off a green recovery for the Québec and Canadian aerospace industry by announcing three major projects that will contribute to reducing the sector's environmental footprint.

The announcement of these projects  was made in the presence of the Right Honourable Justin Trudeau, Prime Minister of Canada; François Legault, Premier of Québec; the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry of Canada; the Honourable Mélanie Joly, Minister of Economic Development and Official Languages of Canada; and Éric Girard, Minister of Finance and Minister of Economy and Innovation of Québec.

Prime Minister Trudeau took advantage of the announcement to launch the Aerospace Regional Recovery Initiative (ARRI), which will provide $250 million in federal investment over three years. Unveiled in the 2021 budget, this initiative will provide exceptional leverage for SMEs and subcontractors in the ecosystem. Its objective will be to support those companies that innovate to accelerate the sector's sustainable transition, boost productivity and improve the industry's resilience and competitiveness. 

By demonstrating its willingness to develop and market more environmentally friendly technologies and products, the industry is paving the way for a new era in aviation. With this announcement, the governments are reiterating their determination to support this approach and to preserve one of the economy's flagships.

Future-oriented projects to attract the next generation of workers

The aerospace industry intends to redouble its efforts to attract the next generation of workers. The projects announced today are tangible platforms for creating exciting jobs. In total, more than 1,000 jobs will be created in Québec and across Canada.

Committed to working with educational institutions to stimulate interest in the sector among the next generation of students, Bell Textron Canada, CAE and Pratt & Whitney Canada will be able to offer co-op placements to more than 6,200 students as part of these projects.

"The collaboration between governments and the industry ecosystem demonstrates the systemic approach that will guide our recovery," said Suzanne M. Benoît, President of Aéro Montréal. "Together, we have built a harmonized roadmap towards a green recovery and concrete solutions, fully adapted to the needs of the sector. By focusing on the development of innovative technologies, we will succeed in retaining our talent and appealing to the next generation, as well as strengthening our position as a leader in innovation and in attracting strategic investment in aerospace."

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.

The activities of Aéro Montréal are made possible thanks to the participation of the governments of Canada and Québec, the Montréal Metropolitan Community, as well as  company members of the cluster.

SOURCE Aéro Montréal

Léa Guicheteau, Aéro Montréal, 514 550-7494, [email protected]