The Canadian government's new aerospace initiative: A tool Montreal companies will put to good use

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Added on 2 April 2007 in Press releases

Press release

The Canadian government’s new aerospace initiative:
A tool Montreal companies will put to good use

Montreal, April 2, 2007 – The Board of Trade of Metropolitan Montreal welcomes the new Strategic Aerospace and Defence Initiative announced today by the Honourable Maxime Bernier, Minister of Industry, and the Honourable Michael Fortier, Minister of Public Works and Government Services.

“Montreal is unquestionably the hub of Canada’s aerospace industry, so the federal government’s plan to make available almost $900 million over the next five years to finance important research and development activities is good news.  This initiative will support our companies in their efforts to increase innovation and competitiveness in a sector where competition is stronger than ever.  I am therefore confident that Montreal’s aerospace cluster will make good use of this program and confirm its status as a Canadian and world leader,” declared Isabelle Hudon, president and CEO of the Board of Trade of Metropolitan Montreal.

Montreal’s aerospace cluster is one of the world’s major growth poles in this area and includes many high-tech companies and centres of excellence and university research.

“This is an industry whose manufacturing production is of high added value.  It already employs some 40,000 workers in Quebec, more than 95% of whom live in Greater Montreal.  When we speak of the aerospace sector, we immediately think of the major corporations that are among the flagships of our economy as well as the university research centres, sub-contractors, and service suppliers – some 250 in Quebec, including 150 in the metropolitan area,” added Hudon.

“Since international competition in this high-tech field is particularly fierce, and this sector receives major government support in other parts of the world, we must develop the necessary tools to allow our companies to prove themselves in accordance with predictable parameters over the medium and long term.  With the initiative announced today, the Government of Canada is making what we believe to be a very promising gesture,” concluded Hudon.

The Board of Trade of Metropolitan Montreal has some 7,000 members. Its 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 the largest private organization in Quebec dedicated to economic development.

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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