Minister Gary Goodyear Notes Importance of Aerospace Sector in Fostering Economic Prosperity

TORONTO, ONTARIO--(Marketwired - Nov. 12, 2013) - The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), was in Toronto today to promote the capabilities of southern Ontario aerospace-related businesses and their role in helping to create jobs and prosperity for the region.

Minister Goodyear was speaking at the Ontario Aerospace Council's 2013 Industry Conference, which focused on opportunities for Ontario aerospace companies to advance their position in growing global aerospace markets.

"The federal government recognizes that aerospace and defence industry spending is extremely important to the economy and offers significant opportunities for firms in southern Ontario," said Minister Goodyear. "Our Government is committed to helping ensure companies in this region are able to take advantage of these opportunities."

The Minister noted that southern Ontario has the capacity to support numerous aerospace-related areas and that there is immense potential for further growth. This includes a growing advanced manufacturing sector, vast research capability and information and communications technologies.

Since its launch in 2009, FedDev Ontario has made significant progress in creating jobs and growing the economy. To ensure southern Ontario can continue to prosper, our businesses and workers need to be more innovative and productive, and must strive to access new markets.

Economic Action Plan 2013 demonstrated continued commitment to workers, families and communities in southern Ontario with the renewal of FedDev Ontario.

Economic Action Plan 2013 provided $920 million for FedDev Ontario over five years, including $200 million for a new Advanced Manufacturing Fund in Ontario, starting on April 1, 2014.

FedDev Ontario will also continue to promote business development, job creation and self-reliant communities in rural eastern Ontario by extending the Eastern Ontario Development Program for five years.

FedDev Ontario will continue to act as a champion for the region by supporting the development of a prosperous and globally competitive southern Ontario economy.

Details of new programming will be posted on the Agency's website at www.FedDevOntario.gc.ca as they become available, so stakeholders are encouraged to check back regularly.

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