Québec government's 2016-17 budget - Aéro Montréal welcomes the new aerospace strategy enabling the sector's diversification

Aéro Montréal

MONTRÉAL, March 17, 2016 /CNW Telbec/ - Aéro Montréal, Québec's aerospace cluster, most favourably welcomes the 2016-17 Budget tabled today by Mr. Carlos J. Leitao, Québec's Minister of Finance. The government's commitment will benefit the whole aerospace supply chain in the Province, fostering its dynamism and its contribution to the Québec economy.

Aéro Montréal welcomes the new Québec government's budget providing an additional $70 million to fund the new aerospace strategy included in a total $250 million envelope over 5 years to support the industry. This funding will address the main challenges of the industry, namely by supporting the growth, diversifying the industrial cluster, fostering SMEs' expansion and reinforcement, as well as innovation.

Pursuing its support to innovations arising from mobilizing projects such as the greener aircraft program SA²GE, Québec maintains its global leadership position in aerospace, ensuring its participation in transition programs towards a cleaner economy.

"Supporting our sector in this manner, the Government of Québec allows all aerospace firms, of any size, to position themselves as leaders in their respective fields," says Hélène V. Gagnon, President of the Board, Aéro Montréal and Vice-President, Public Affairs and Global Communication. CAE.

We also welcome the government's announcement of $162 million over five years, to implement Québec's digital strategy. Numerous aerospace corporations will benefit from tax credits related to information technology integration in Québec's SMEs and from contributions to major digital transformation projects.

"These commitments reflect the government's focus on the strategic transformation taking place in the aerospace industry and especially the transition to industry 4.0. This strategy will play an active role in the growth of a high-value-added segment, which generates steadily expanding annual revenues, i.e. $15.5 billion in 2015, an increase of more than 12% compared to 2014," concluded Mrs. Suzanne M. Benoît, President, Aéro Montréal.

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

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Gwenaël Brisé, Communications Advisor, Aéro Montréal, Off. : 514 987-9395 | cell. : 438 497-3857, [email protected]