Ottawa Announces $440 Million for Quebec Aerospace Industry

Ottawa Announces $440 Million for Quebec Aerospace Industry
Prime Minister Justin Trudeau makes an aerospace economic announcement as President and Chief Executive Officer of CAE Inc. Marc Parent looks on July 15, 2021 in Montreal. The Canadian Press/Ryan Remiorz
The Canadian Press
Updated:

MONTREAL—Prime Minister Justin Trudeau is announcing up to $440 million in federal funding for Quebec’s aerospace industry.

Trudeau told a news conference today in Montreal that coupled with money from Quebec, the package of government aid for the key sector of the province’s economy will total as much as $693 million.

The prime minister says the funding will subsidize aerospace companies operating in the province such as Bell TextronCanada, CAE, and Pratt & Whitney Canada.

He says the investments will also go toward green-aviation projects and clean technologies and will create or support 12,000 jobs and make internships available to more than 6,200 students.

Trudeau is also announcing an investment of $92.5 million over three years in Quebec under the Aerospace Regional Recovery Initiative, which is a fund dedicated to help small and medium-sized aerospace firms.

He says the recovery program is ready to start receiving applications today.