Government of Canada promotes global investment in our country's world-class aerospace industry

Minister Bains leads delegation at 2018 Farnborough International Airshow

OTTAWA, July 19, 2018 /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 international leadership in innovation are the talents of a highly-skilled workforce and a commitment by the Government of Canada to promote the industry's competitiveness, which creates well-paying, middle-class jobs for Canadians.

That was the message delivered at the 2018 Farnborough International Airshow by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. He was joined at the event by the Honourable Marc Garneau, Minister of Transport, the Honourable Carla Qualtrough, Minister of Public Services and Procurement and Accessibility, and David Lametti, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development.

Together, they accompanied a delegation of 420 representatives from more than 130 Canadian aerospace companies to the airshow, which is a major opportunity for the Government to highlight innovation in the country's aerospace industry and to promote Canada as an aerospace leader.

A number of Canadian-based companies announced sales or investments at 2018 Farnborough International Airshow including Bell Helicopter, Bombardier, the Bombardier/Airbus strategic partnership, CAE, CMC Esterline, Héroux-Devtek, MDA, Pratt & Whitney Canada and, Safran Landing Systems.

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 Canadian and international aerospace companies. They highlighted the Government's commitment to the aerospace and space industries through the Innovation and Skills Plan, a multi-year strategy to create well-paying jobs for the middle class.

Quotes

"I am proud to have had the opportunity to share with the world why Canada is a destination of choice for companies and investors in the aerospace industry. Canada is a world leader in aerospace innovation, and we want to keep that enviable position. My colleagues and I highlighted to the many international stakeholders on-site all the benefits our country has to offer them, from its people to our government's support for the development of innovative technologies."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

"In participating in a major event such as the Farnborough International Airshow, Canada's goal is to support Canadian companies in seeking business opportunities that stimulate their growth and the Canadian economy. I am pleased with what we have accomplished with them over the past few days. Companies in the aeronautic sector certainly make Canada proud, and it has been a pleasure to stand by their side while they were showcasing their tremendous capabilities."
– The Honourable Marc Garneau, Minister of Transport

"This year's event was a great success and offered many opportunities to promote the innovative thinking and cutting-edge products developed by Canadian businesses. As Canada is the fifth largest aerospace producer in the world, Canadians can be proud of the important contribution of their aerospace industry and of the critical role it plays in keeping Canada's economy strong."
– The Honourable Carla Qualtrough, Minister of Public Services and Procurement and Accessibility

Quick facts

• In 2017, the aerospace industry contributed close to $25 billion in GDP and almost 190,000 jobs to the Canadian economy.
• Canada ranks first in the world for the production of civilian flight simulators, second for the production of business and regional aircraft, and first for the production of turboprop and helicopter engines.
• Aerospace accounts for close to 25 percent of total research and development investments in Canada's manufacturing sector, making it the top R&D spender among all Canadian manufacturing industries.

Associated links

• State of Canada's Aerospace Industry 2018 Report

Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA

SOURCE Innovation, Science and Economic Development Canada

Mallory Clyne, Director of Communications, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]