Minister Paradis Promotes Harper Government's Actions to Strengthen Aerospace SMEs in Canada

SAINT-LAURENT, QUEBEC--(Marketwired - May 23, 2013) - The Honourable Christian Paradis, Minister of Industry, today addressed an Aéro Montréal event, where he highlighted the Harper Government's support for small and medium-sized enterprises (SME) in the aerospace industry.

"Our government's top priorities are jobs, growth and long-term prosperity," said Minister Paradis. "In meeting those priorities, we will continue to explore ways to enhance the competitiveness of Canada's small business community, including firms in our world-class aerospace industry."

During his address, Minister Paradis discussed the Harper Government's initial response to the Review of Aerospace and Space Programs and Policies announced in Economic Action Plan 2013. Measures include stable funding and improvements to the Strategic Aerospace and Defence Initiative and the creation of a Technology Demonstration Program.

In recognition of the importance of SMEs to the industry, Minister Paradis also expanded on the Harper Government's recent investments that support this segment of the economy, including:

• $225 million to expand and extend the temporary Hiring Credit for Small Business for one year;
  
  
• a new $20-million pilot program to be delivered through the Industrial Research Assistance Program, increasing SME access to research and development services at post-secondary and other research institutions;
  
  
• $400 million in new capital through the Venture Capital Action Plan, the government's new approach that will better target resources to bolster the private sector-led venture capital industry and support job creation and economic growth throughout Canada;
  
  
• $60 million over five years to help outstanding and high-potential incubator and accelerator organizations expand their services to entrepreneurs; and
  
  
• $100 million through the Business Development Bank of Canada to invest in firms graduating from business accelerators.