Press release: The Board of Trade of Trade of Metropolitan Montreal welcomes the choice of Greater Montreal for final assembly of Bombardier Aerospace's C-Series family of jets

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Added on 13 May 2005 in Press releases

Press release

The Board of Trade of Metropolitan Montreal welcomes the choice of
Greater Montreal as the site for final assembly of
Bombardier Aerospace's C-Series family of jets

Montreal , May 13, 2005 – The Board of Trade of Metropolitan Montreal welcomes today's announcement by Bombardier Aerospace that it has chosen Greater Montreal as the site for final assembly of its C-Series aircraft. Once the orders have been confirmed, this decision will consolidate Greater Montreal's position as a world leader in the aerospace industry and permit the creation of more than 6,000 direct jobs.

“The signing of a letter of intent with the governments of Canada and Quebec for the final assembly of the C-Series jets is excellent news for the metropolis, since it involves major investments that will help protect a strategic sector of our economy. The aerospace industry, which combines the aeoronautics and space sectors, produces products of high added value. This industry already employs some 40,000 workers in Quebec , more than 95% of whom live in Greater Montreal. Our aerospace sector exports approximately 80% of its production, with a total value of almost $11 billion annually. In addition, Quebec is responsible for almost 80% of all Canadian exports in this sector. So it's not surprising that Quebec 's number one export is aircraft,” declared Isabelle Hudon, president and CEO of the Board of Trade of Metropolitan Montreal.

“When we speak about the aerospace sector, we immediately think of the major corporations that are among the brightest lights of our economy. But we shouldn't overlook all their sub-contractors and service providers – some 250 in Quebec , including 150 in the metropolitan area! Most of these are SMEs, making Montreal one of the few places in the world where it is possible to build an entire airplane almost completely from scratch, since almost all its parts are manufactured within a 30-kilometer radius. Today's announcement is thus excellent news for all those SMEs in the region whose survival is closely tied to the local development of major corporations such as Bombardier Aerospace,” added Hudon.

“Metropolitan Montreal 's aerospace sector not only provides tens of thousands of high-quality jobs but also creates wealth and actively contributes to the development of a learning economy centred on knowledge and the penetration of international markets. Exceptional cooperation with our training and educational institutions allows this industry to easily recruit new graduates. In 2002, more than 7,500 new students were trained in programs related to Greater Montreal's aerospace industry. This is another positive spin-off of the assistance granted to this industry. One of our greatest challenges now is to maintain sufficiently attractive conditions to keep all this talent in Montreal ,” concluded Hudon.

The aerospace sector enables metropolitan Montreal to shine as a high-tech metropolis on the international stage, while generating annual revenues exceeding $20 billion across Canada , primarily in Greater Montreal.

The Board of Trade of Metropolitan Montreal has some 7,000 members. Its primary mission is to represent the interests of the business community of Greater Montreal and to provide individuals, merchants and businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity and competitiveness. The Board of Trade is Quebec 's leading private economic development organization.

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Source:
Sylvie Paquette
Coordinator, Media relations
Board of Trade of Metropolitan Montreal
Tel.: (514) 871-4000, ext. 4015
sylvie.paquette@ccmm.qc.ca