Government of Canada Provides Financial Support to the Quebec Aerospace Association

MONTREAL, QUEBEC--(Marketwire - July 12, 2011) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announced today the renewal of the financial partnership between the Agency and the Quebec Aerospace Association (AQA) until 2014. This agreement comes with a contribution of $984,150 in non-repayable funding to support the AQA's operations for three years.

"The Government of Canada sees it as essential to lend its financial support to organizations that, like the AQA, use well-targeted strategies to help our innovative enterprises grow and prosper, both here and abroad," stated Minister Lebel.

The AQA assists enterprises in the aerospace industry in improving their competitiveness and visibility on global markets and in creating skilled jobs. It supports its members in their efforts to expand into new markets and to rise to the challenges of innovation, technology, access to financing and insertion in prime contract supply chains.

Quebec's aerospace sector comprises 229 companies and employs more than 39,500 people. Quebec aerospace companies enjoy an enviable reputation for their capacity for innovation and the importance of their research and development investments. In 2010, these companies generated sales of $10.9 billion. Eighty percent (80%) of Quebec's production is exported.

Granted through the Business and Regional Growth program, this financial contribution from Canada Economic Development will enable the AQA to continue working to strengthen the province's aerospace companies. This economic sector is considered a priority for the Greater Montréal area.

For more information on the Quebec Aerospace Association, visit www.aqa.ca.

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