Aéro Montréal publishes A220 economic impact study
Aéro Montréal on February 20 unveiled the results of a study completed by PwC Canada on the economic benefits of the A220 aircraft program in Québec and Canada. The report was unveiled a few days after Bombardier sold its remaining share interest in the Airbus Canada Limited Partnership to Airbus, which oversees the program, to Airbus SE and the Government of Québec.
Formed in 2006 as a strategic think tank focused on Québec’s aerospace sector, Aéro Montréal states the report shows that the A220 program has resulted in a significant contribution to the GDP, thousands of jobs, employment income and tax revenues, while also contributing to university research.
“Thanks to major investments made since 2007, this program has made an important contribution to strengthening Québec’s aerospace expertise and leadership,” said Suzanne Benoît, president of Aéro Montréal. “The establishment of Airbus in the Greater Montréal region and its strong commitment to the growth of the program in Québec for years to come clearly demonstrates the attractiveness of our ecosystem within this highly technological and booming industry.”
The study estimates that the development of the A220 program generated a cumulative economic impact in Canada from 2007 to 2018 of $6.6 billion to GDP, an annual average of 6,437 jobs over 10 years, $4.1 billion in labour income and $1.7 billion in tax revenue.
The study also presents the expected impact of program operations over the next 15 years.