BC Aerospace Competitiveness Receives $5 Million Boost from Provincial Budget

VICTORIA, Feb. 18, 2014 /CNW/ - In its annual budget released today, the BC government confirmed its commitment to the growth of the aerospace sector in British Columbia, saying that it would work with AIAC Pacific to deliver on its $5 million campaign promise in last year's provincial election.

"Consistent with a plan we put forward in the last election, we will also leverage the federal Industrial Regional Benefits Program to attract global aerospace and defence contractors to B.C.  We will invest $5 million over five years in partnership with the Aerospace Association of Canada Pacific Division to grow the province's world leading aerospace sector and help attract additional global aerospace and defence contractors to B.C." said Minister of Finance Michael de Jong in his speech to the Legislature.

"The commitment to the aerospace sector by the Province of British Columbia will be a strong statement to global aerospace companies that BC is a good location for investment.  The partnership with the provincial government is also a signal to entrepreneurial BC companies that are the foundation of our industry and the next generation of innovators that BC is a great place to do business in the aerospace sector," said David Schellenberg, Chair of AIAC Pacific and a long time aerospace industry executive.  "We are very pleased at the commitment we are seeing today from the government to the BC aerospace industry, and we applaud them for honouring their election promise to British Columbians. We are confident that this investment will provide a significant long-term return for the industry, taxpayers, and for the BC economy."

"Over the past two years, there has been a great deal of work between the federal government, AIAC and the national industry to improve the competitiveness of Canadian aerospace companies domestically and around the world," Mr. Schellenberg added. "Today's announcement will allow us to leverage these federal programs and initiatives in support of the industry here in BC, helping companies to develop new technologies, expand their global reach, and become more competitive. Ultimately, this means greater economic contributions and more job creation for British Columbians."

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AIAC Pacific is the voice of British Columbia's aerospace manufacturing and services sector. BC has more than 30 companies, which possess world class capabilities and are proven innovators and technology leaders. The BC aerospace industry generates $1.2 billion in revenues annually and employs more than 10,000 British Columbians. AIAC Pacific is part of the Aerospace Industries Association of Canada, and is based in Abbotsford, British Columbia.

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SOURCE: Aerospace Industries Association of Canada

For further information:

Jay Teichroeb, Vice President, AIAC Pacific
Aerospace Industries Association of Canada
[phone], [e-mail] 

Kristen VanderHoek, Director of Communications
Aerospace Industries Association of Canada
[phone] x225, [e-mail]