Canada's Aerospace Industry to Reach New Heights in the GTA

TORONTO, ONTARIO--(Marketwired - July 22, 2015) - The Honourable Joe Oliver, Minister of Finance and Minister Responsible for the GTA, was joined today by Mark Adler, Member of Parliament for York Centre, His Worship John Tory, Mayor of the City of Toronto, and Brad Chapman, Chief Financial Officer and Vice President of Business Development, Centennial College, to announce funding of up to $18.4 million for Centennial College's Downsview Park Aerospace Campus under the New Building Canada Plan. The project is located at Downsview Park in Toronto, Ontario, and will provide education, training, research, and business opportunities while supporting growth in the aerospace industry.

This project involves the renovation of the De Havilland building at Downsview Park. Work will include the construction of new laboratories, teaching facilities and office space for research and development in the aerospace sector related to structural aircraft assembly, manufacturing and maintenance, research in navigation and more. The new campus is part of a larger project to expand aerospace research in the Toronto region.

Centennial College's Aerospace Campus is the first phase in the development of an Aerospace Hub at Downsview Park in Toronto, Ontario. The Aerospace Hub will consist of two additional elements: the relocation of the University of Toronto Institute for Aerospace Studies (UTIAS), and the creation of an Innovation Centre to bring together academic and industry partners to catalyze new research and development initiatives. Establishing the Aerospace Hub is the mandate of the Downsview Aerospace Innovation and Research (DAIR) consortium, which represents leading academic and industry organizations in Canada's aerospace sector.

The Project would generate the following benefits:

(1) Develop a highly-skilled workforce driving innovation in sectors that support increased diversification or competitiveness of the national, regional, or local economy and contribute to sustained long-term growth.

(2) Increase opportunities for collaboration between public institutions and the private sector, supporting the transfer of innovative technologies and research to market; and,

(3) Enhance capacity of post-secondary institutions to develop and transfer new knowledge through leading-edge basic and applied research and teaching.

The New Building Canada Plan is the largest and longest federal infrastructure plan in Canada's history.

This unprecedented commitment is providing $53 billion to support provincial, territorial and municipal infrastructure, between 2014 and 2024.

Over this ten-year period, Ontario will benefit from approximately $11 billion in dedicated federal funding, including almost $2.7 billion under the New Building Canada Fund.

Quick Facts

• The Government of Canada has selected this project for funding consideration of up to one third of eligible costs, to a maximum of $18.4 million under the New Building Canada Fund's Provincial-Territorial Infrastructure Component-National and Regional Projects. This funding is conditional on the project meeting applicable federal eligibility requirements with respect to the New Building Canada Fund and the signing of a contribution agreement. Centennial College is responsible for securing all remaining funding required to complete the project.
• The projects total eligible estimated cost is $55.4 million.
• The $53 billion New Building Canada Plan provides stable funding for a 10-year period, and includes:
  • The Community Improvement Fund, consisting of the Gas Tax Fund and the incremental Goods and Services Tax Rebate for Municipalities, which will provide over $32 billion to municipalities for projects such as roads, public transit and recreational facilities, and other community infrastructure.
  • The $14-billion New Building Canada Fund, which consists of:
    • The $4-billion National Infrastructure Component that will support projects of national significance; and
    • The $10-billion Provincial-Territorial Infrastructure Component for projects of national, regional and local significance. Of this amount, $1 billion for projects in communities with fewer than 100,000 residents through the Small Communities Fund.
  • An additional $1.25 billion in funding for the Public-Private Partnerships (P3) Canada Fund administered by PPP Canada.

Quotes

"By developing an aerospace hub at Downsview Park we are helping to create highly-skilled jobs right here in the GTA and supporting a sector that is critical to Canada's national economy. In 2014, aerospace research and manufacturing contributed more than $29 billion to our GDP and created 180,000 jobs. Canada is a global leader in this field and the funding being announced today will ensure this sector progresses even further."

The Honourable Joe Oliver

Minister of Finance

"I am extremely proud to see a facility of this stature being developed in my community. This aerospace hub will allow us to develop the next generation of aerospace workers, while increasing academic collaboration and carrying out world class research. By supporting this initiative our Government is sending a strong message that we are determined to ensuring that Canada's aerospace sector continues to be a world leader."

Mark Adler

Member of Parliament for York Centre

"The development of Centennial College's Downsview Park Aerospace Campus is good news for Toronto. The next generation of good, high tech jobs in aerospace will be created in Toronto because of this investment by the federal government. The campus will create a collaborative environment where innovative people - students, faculty, industry partners - can exchange ideas, build, test and produce new technologies that will keep Toronto and Canada as a leader in the aerospace sector."

His Worship John Tory

Mayor of the City of Toronto

"We are deeply grateful to the Canadian government for its show of confidence in our vision to build a state-of-the-art Aerospace Campus on the site of the historic De Havilland building at Downsview Park. On these solid bones will rise a spectacular repurposed building that will house our existing aviation programs and related aircraft and technology, as well as new aerospace laboratories and research space to foster the next generation of advanced aircraft. Canada is inextricably tied to the evolution of flight and space exploration. With this new facility, Centennial College will enjoy an expanded role in that effort."

Ann Buller

President and CEO, Centennial College

Associated Links

To learn more about the New Building Canada Fund - Provincial-Territorial Infrastructure Component - National and Regional Projects, please visit http://www.infrastructure.gc.ca/plan/nrp-pnr-prog-eng.html.

For additional information on the New Building Canada Plan, visit http://www.infrastructure.gc.ca/plan/nbcp-npcc-eng.html.

For more information about Centennial College, visit http://www.centennialcollege.ca/.

To learn more about the Government of Canada's focus on jobs and the economy consult Canada's Economic Action Plan at http://www.budget.gc.ca/2015/home-accueil-eng.html.

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