Aerospace sector recovery: Over $32M invested in Quebec

CED to enable 14 organizations to meet growing aerospace industry needs.

SALABERRY-DE-VALLEYFIELD, QC, July 7, 2023 /CNW/ - Canada Economic Development for Quebec Regions (CED)

Supporting the aerospace industry, a key component of our economy, is a priority of the Government of Canada. That is why the Honourable Pascale St Onge, Minister of Sport and Minister responsible for CED, accompanied by Peter Schiefke, Member of Parliament for Vaudreuil-Soulanges, today announced a total of $32,571,736 in contributions for 14 businesses and organizations in the Greater Montréal, Cantons de l'Est and Québec‒Chaudière–Appalaches regions.

This CED assistance, provided under the Aerospace Regional Recovery Initiative (ARRI), will enable the Meloche Group, Laflamme Aero, Balko Technologies, Calogy Solutions, Sonaca Montréal, WatchOut Corp., Abipa Canada, Optima Aero, M1 Composites Technology, Tecnickrome Aéronautique, the DCM Group, Alphacasting, Dynatherm Instrumentation and Montréal International to continue to grow and enhance their competitiveness. Further details on the 14 projects are provided in a related backgrounder.

Aerospace is a pillar of the economy and innovation in Canada. In 2022, this industry contributed nearly $27 billion to the country's GDP (an increase of $1.8 billion from 2021) and helped create 212,000 highly qualified jobs (an increase of 14,400 jobs from 2021), in addition to generating nearly $18.7 billion in exports. The aerospace sector is indispensable to the economic development of communities and businesses, from coast to coast to coast. The Government of Canada has committed to supporting Canadian businesses working in this industry by helping them adopt sustainable environmental practices and seize opportunities to boost the country's future growth.

"We are working with organizations and their staff to create wealth here in Canada. By helping businesses equip themselves, we are enabling them to grow and remain competitive while contributing to a stronger aerospace sector. With these investments, our government is following through on its commitments to build a stronger, more resilient, more inclusive economy."

Peter Schiefke, Member of Parliament for Vaudreuil-Soulanges

"The aerospace industry is a key driver of the economy and innovation in Canada. That is why the Government of Canada is proud to announce this major support today for 14 organizations in Quebec. This assistance is key to helping the industry stay competitive on the international stage. Without a doubt, the success and spin–offs of these projects will be felt across Quebec and Canada."

The Honourable Pascale St-Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED

"The Meloche Group is extremely grateful for the financial assistance CED has provided under the Aerospace Regional Recovery Initiative (ARRI). This support has enabled the business to acquire the equipment it needs to develop a new range of components and thereby work with our clients on the engine of the future. When we were fully in the pandemic, CED's help made it possible for us to concentrate on innovative projects and to continue to grow in the aeronautics industry."

Hugue Meloche, President and CEO, Meloche Group

• The funds have been granted under the Aerospace Regional Recovery Initiative (ARRI). Delivered by Canada's regional development agencies (RDAs) with a national budget of $250 million over three years, the ARRI complements other measures announced in Canada's COVID–19 Economic Response Plan. It is part of a global Government of Canada strategy that includes measures being implemented by Innovation, Science and Economic Development Canada to boost the aerospace industry.
  
  
• CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.

• CED funding initiatives and programs

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SOURCE Canada Economic Development for Quebec Regions