Ottawa Invests $440 Million In Quebec’s Aerospace Industry Ahead Of Election

The federal government in Ottawa has announced a $440-million investment in Quebec's aerospace industry ahead of a likely election this autumn.

Prime Minister Justin Trudeau was on hand to announce the investment and said the money will be used to subsidize aerospace companies and help them compete globally.

A day earlier, Trudeau travelled to Quebec's Gaspe region and pledged up to $25 million to expand a wind turbine plant. The millions of dollars in federal money for Quebec comes ahead of an anticipated federal election campaign this fall.

Combined with $245 million from the Quebec government, the aid for the aerospace sector totals as much as $693 million. The prime minister said the funding will subsidize projects being developed by three large aerospace companies operating in the province: Bell Textron Canada, CAE and Pratt & Whitney Canada.

The money is expected to create or support 12,000 jobs and make internships available to more than 6,200 students.

Ottawa is also investing $92.5 million over three years in Quebec under the Aerospace Regional Recovery Initiative, which is a fund dedicated to help small and medium-sized aerospace firms recover from the COVID-19 pandemic.