MONTRÉAL, QUEBEC--(Marketwired - April 24, 2013) - The Honourable Christian Paradis, Minister of Industry, today addressed the aerospace industry at Aeromart Montréal. The Minister highlighted Economic Action Plan 2013 measures that support Canada's aerospace industry and promoted Canada as an excellent investment destination and source for supply chains.
"Our government has created a sound economic framework to attract investments, promote economic growth, and create jobs and prosperity for hard-working Canadian families," said Minister Paradis. "Canada is a prime destination for international ventures across the economy, including the aerospace industry. I am happy to say the numbers support that."
The Minister told delegates that the government is taking action on the Review of Aerospace and Space Programs and Policies and is committed to partnering with them. The Honourable David Emerson, Head of the Aerospace Review, presented his report to the Minister of Industry last November.
"Our government promised to act on the recommendations made in the Emerson report, and we did just that. Through Economic Action Plan 2013, we addressed four of the report's most important recommendations," said Minister Paradis.
In particular, the Strategic Aerospace and Defence Initiative will receive close to $1 billion over five years, and the program will be reviewed to ensure that it continues to respond to the needs of this sector.
In addition, Economic Action Plan 2013 will provide funding to create a new large-scale Technology Demonstration Program with $110 million over four years and $55 million a year thereafter. Economic Action Plan 2013 also commits to the launch of consultations for the creation of a National Aerospace Research and Technology Network and to enhanced access to aircraft safety certification.
Aeromart Montréal is one of the major events for the Canadian aerospace sector, bringing together industry representatives from Canada and abroad.