The federal government’s budget submitted on March 21 for the upcoming year contains a number of provisions that are good news for the Canadian aerospace industry:
- The government will provide funding of $1 billion over five years for the Strategic Aerospace and Defence Initiative (SADI). The administration and operation of this program will be reviewed in the next fiscal year to improve its efficiency. Accordingly, Montréal International submitted a written submission in June 2012 to the advisory council mandated by the Government of Canada to oversee an aerospace review.
- The budget provides $110 million over four years, beginning in 2014–15, and $55 million annually thereafter, for the creation of an Aerospace Technology Demonstration Program.
Greater Montréal stands to benefit from these two measures as the Montréal aerospace industry represents almost 60% of the GDP and 50% of the workforce for the sector in Canada.
Francis Langlois, Analyst, Economic Research Division