Aéro Montréal welcomes Québec government's support for aerospace innovation

MONTREAL, March 30 /CNW Telbec/ - Aéro Montréal, the aerospace cluster of Metropolitan Montréal, welcomes today's announcement by Mr. Raymond Bachand, Québec's Minister of Finance, regarding financial support for industrial demonstration projects related to "green" aircraft. A global budget of $150 million over four years for Quebec's aerospace industry will promote the development of aeronautical technologies of the future and help increase its competitiveness internationally.

"This is great news for our industrial cluster," said Marc Parent, Chairman of the Board of Aéro Montréal and President and CEO of CAE Inc. "Given the economic importance of the aerospace industry for Québec, we are pleased that the Québec government is prioritizing innovation and recognizes its importance as a generator of wealth for our society."

This announcement reaffirms the government's desire to encourage the development of the aerospace industry and cultivate the ingenuity for which it is known. By emphasizing the importance of developing innovations and more sustainable aerospace technologies, Québec is today investing in a thriving sector that will continue to offer exciting employment opportunities for future generations.

"Environmental protection is becoming increasingly important. That's why our industry is working to develop the next generation of aircraft with more sustainable technologies," said François Caza, Chairman of Aéro Montréal's Innovation Working Group and Vice-President and Chief Engineer at Bombardier Aerospace. Every year, the Québec aerospace industry invests in research and development. As such, it accounts for 70% of total R&D conducted in this sector in Canada.

"Members of the Québec aerospace cluster are working together to stimulate innovation, remain a leader and position themselves for aerospace programs of the future. This strategic support from the government will accelerate the economic recovery and create quality jobs in the future," noted Suzanne M. Benoît, CEO of Aéro Montréal.

Québec's aerospace industry at a glance

The heart of Canada's aerospace industry, Québec has played a central role in the conquest of air and space for nearly a century. Recognized for its highly skilled and innovative labour force, Québec's aerospace sector today employs 40 000 people and generates revenues of $12.4 billion, or around 60% of the Canadian total. With 98% of Québec's aerospace activity concentrated in Greater Montréal, the region is one of the world's leading aerospace centres, along with Seattle and Toulouse.

Québec's aerospace industry benefits from the presence of global leaders. These include 4 major prime contractors and some 15 equipment manufacturers and MROs supported by a network of more than 200 specialized companies. Moreover, Québec is home to Canada's largest aerospace centres of excellence and most prestigious technical institutes, schools, colleges and universities. Thanks to this exceptional innovation capacity, our industrial sector is recognized around the world as a true model of excellence.

About Aéro Montréal

Aéro Montréal, Greater Montréal's aerospace cluster, is a think tank that brings together all the major decision makers in Québec's aerospace sector, including companies, educational and research institutions, associations and unions.

Aéro Montréal's mission is to mobilize industry players around common goals and focused actions to increase cohesion and optimize competitiveness. By fostering the growth and expansion of Greater Montréal's aerospace cluster, it intends to make this industry an increasingly important source of wealth creation for the Montréal region, Québec and Canada.

For further information: Amélie Hudon, Senior Communication Advisor, Aéro Montréal, [phone], Cell.: [phone], [email protected]