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Canadian Aerospace Industry Recognized as Crucial to Canadian Economy

Nov. 26, 2008 - Ottawa, ON - The Canadian aerospace community is pleased with the Federal Government's commitment to boost the competitiveness of the aerospace industry contained in Prime Minister Harper's Reply to the Speech from the Throne.


November 26, 2008
By CNW

The Prime Minister's pledged funding for a number of aerospace programs,
 including the Strategic Aerospace and Defense Initiative, measures to support
 small and medium-sized enterprises, tax incentives, tariff relief for
 equipment investment and increased skills training. These programs will
 strengthen Canadian aerospace and bolster its position as a leader in the
 highly competitive, global aerospace market with continued innovation and
 manufacturing performance. The Canada First Defense Policy to supply the
 Canadian Forces with new equipment and technology and the National Science and
 Technology Strategy introduces strong economic stimulus to Canadian aerospace
 companies.
         "Our industry has been growing steadily for the past five years and order
 books are still full. Although the current economic downturn considerably adds
 to the challenges we face as an industry, future global demand – expected to
 reach trillions of dollars within 20 years – represents a tremendous
 opportunity for the aerospace sector to help Canada weather a weakening in the
 global economy" said Dr. Claude Lajeunesse, President and CEO of the Aerospace
 Industries Association of Canada (AIAC).
         Canada is a recognized aerospace leader and is the fourth largest
 aerospace producer in the world. Hundreds of aerospace companies employ
 thousands of Canadians nationwide who generate nearly $23 Billion dollars in
 annual production, 82 percent of which is destined for export markets.
         "To remain innovative and competitive in the future, Canada must invest
 in its aerospace industry through the joint effort of government, academia and
 labour organizations now," continues Dr. Lajeunesse. "Today's commitment
 demonstrates that the Federal Government is willing to make that investment.
 We look forward to working with the Ministers Clement, Goodyear, MacKay, Day,
 Paradis and other elected officials to grow our industry to its full
 potential."

         About AIAC

         AIAC is the national trade association representing Canada's aerospace
 manufacturing and services sector. The world's fourth largest aerospace
 industry, Canada's aerospace sector generates $23 billion annually and employs
 more than 82,000 Canadians. Eighty-two per cent of Canadian aerospace products
 are exported. AIAC represents the interests of 400 aerospace companies across
 Canada.