Minister Champagne highlights major Boeing investment in Quebec's new aerospace innovation zone

MONTRÉAL, May 21, 2024 /CNW/ - Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, welcomed an important Boeing investment in Quebec's new aerospace innovation zone in the Montréal region.

Part of Boeing's Industrial and Technological Benefits commitment to Canada for selecting the company's P-8A Poseidon as its future maritime patrol aircraft, this $240 million investment includes funding for a state-of-the-art aerospace development centre and strategic investments in two Montréal-based industry leaders, Héroux-Devtek and Wisk.

This Boeing investment in Quebec builds on more than $2 billion in P-8 contracts with Canadian companies to date, contributing jobs and economic growth across the country.

The aerospace sector is one of the most innovative and export-driven industries in Canada, generating more than 210,000 jobs and contributing an estimated $27 billion in annual economic benefits.

Quote

"Our government continues to play a vital role in the growth of Quebec's aerospace industry. Today's announcement is a concrete example of our aerospace economic benefits policy at work. With this important investment, Boeing is helping to strengthen Canada's position as a global aerospace supply chain leader, driving innovation and creating high-quality jobs for Canadian workers."
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

"Quebec's aerospace cluster is a cornerstone of our economy and supports well-paying jobs for Canadian workers. Major defence procurement projects enable us to not only strengthen the operational capabilities of our armed forces, but also to ensure that companies in the Canadian supply chain can benefit from significant economic spin-offs. The International Aerospace Innovation Forum once again underlines the Canadian government's commitment to the innovative work of the Canadian defence and aerospace industry."
– The Honourable Jean-Yves Duclos , Minister of Public Services and Procurement

"The creation of Espace Aéro is the culmination of many years of collaborative efforts to accelerate the sustainable transformation of our industry. By focusing on decarbonization and autonomy, Espace Aéro will serve as a showcase for Québec: a powerful lever for attracting tomorrow's talent and local and international recognition."
– Mélanie Lussier, President and CEO of Aéro Montréal

Quick facts

• Boeing's investment in Montréal as part of its Industrial and Technological Benefits (ITB) commitment includes $95 million to Wisk for the development of the 6th-Gen eVTOL autonomous commuter air taxi, $35 million to Héroux-Devtek for a next-gen landing gear research and development project, and $110 million for the creation of an aerospace development centre to host aerospace research and development focused on decarbonization, electrification, autonomy, digitalization and advanced materials.
• Canada's ITB Policy applies to the Canadian Multi-Mission Aircraft (CMMA) project and will ensure that the Boeing Company undertakes meaningful business activities and makes targeted investments in Canadian industry.
• Boeing has contractual ITB commitments of CAD$5.4 billion. The company has 10 years to achieve these commitments.
• Canada's regional development agencies, including Canada Economic Development for Quebec Regions, actively work with Innovation, Science and Economic Development Canada and companies such as Boeing to implement the Government of Canada's ITB Policy and find structural investment projects benefitting the Quebec and Canadian economy.
• Through these business activities, Boeing is expected to generate over 3,500 jobs annually in Canada and contribute nearly $485 million annually to Canada's gross domestic product (GDP).

Associated links

• Canada purchasing up to 16 P-8A Poseidon Multi-Mission Aircraft for the Royal Canadian Air Force
• Aerospace and defence

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SOURCE Innovation, Science and Economic Development Canada

Audrey Milette, Press Secretary, Office of the Minister of Innovation, Science and Industry, [email protected]; Media Relations, Innovation, Science and Economic Development Canada, [email protected]