Québec Provincial Government outlines new five year aerospace strategy
Québec Provincial Government announced (30-May-2016) the launch of the new CAD510 million (USD392 million) Quebec aerospace strategy for 2016-2026, including CAD250 million (USD192 million) in direct financial support from the government. The strategy covers 10 objective and 30 initiatives, with four major focus areas:
- Strengthen and diversify the structure of the provincial aerospace industry;
- Support the growth of the industry by supporting projects and investing in the workforce;
- Support small and medium sized enterprises in their development;
- Focus on innovation in industry.
Québec's aerospace industry includes nearly 190 companies employing more than 40,000 workers. In 2015, annual sales in the sector amounted to CAD15.5 billion (USD11.9 billion). Over 80% of Quebec's aerospace production is exported, and about 70% of Canadian aerospace R&D activities are carried out in Quebec. [more - original PR - French]