Boeing’s $240 Million CAD Investment Fuels Aerospace Innovation in Québec

Boeing (NYSE) unveiled its intention to invest in multiple Québec-based enterprises, earmarking a significant $110 million as a cornerstone investment for an Aerospace Development Centre within the emerging Espace Aéro Innovation Zone. These financial injections are a pivotal component of Boeing’s Industrial and Technological Benefits commitment to Canada, a pledge initiated upon the selection of Boeing’s P-8A Poseidon for fulfilling Canada’s enduring multi-mission aircraft requirements.

Among Boeing’s strategic moves in Québec, two noteworthy technological endeavors stand out. Firstly, there’s the establishment of Wisk’s engineering center in Montreal, concentrating on the development of their autonomous, electric, 4-passenger eVTOL air taxi. Additionally, Boeing is set to engage in collaborative efforts with Héroux-Devtek within Espace Aéro, focusing on advanced research in landing gear technology.

Understanding Espace Aéro’s ethos of fostering collaborative innovation to advance sustainable aerospace solutions in Canada, Boeing is actively exploring further project opportunities aligned with the zone’s priorities of decarbonization and autonomy.

Dr. Brendan Nelson AO, President of Boeing Global, expressed enthusiasm about partnering with Québec to spearhead initiatives that push technological boundaries, spur economic advancement, and contribute to aviation decarbonization. He emphasized these investments as a testament to Canada’s aviation prowess and Boeing’s steadfast commitment to the nation’s progress, spanning over a century.

The Honourable François-Philippe Champagne, Canada’s Minister of Innovation, Science, and Industry, hailed the announcement as a demonstration of Canada’s economic benefits policy in action. He underscored the significance of Boeing’s investments not only in procuring the P-8 Poseidon but also in nurturing strategic collaborations with leading Canadian firms, thereby fostering job creation and myriad opportunities.

Sebastien Vigneron, Wisk’s Senior Vice President of Engineering and Programs, lauded Boeing’s continued support for their Montreal engineering hub, recognizing it as an opportunity to expand their team, leverage Québec’s exceptional aerospace talent pool, and advance their mission of democratizing safe air travel.

Martin Brassard, President and CEO of Héroux-Devtek, echoed the sentiment, expressing pride in Boeing’s investment in next-generation landing gear technology, which he believes will bolster Québec’s manufacturing capabilities and talent accessibility. He envisioned the innovation hub within Espace Aéro as a beacon of excellence in aerospace research.

The Government of Canada’s decision to acquire the P-8A Poseidon aircraft in November 2023 underlines the significance of Boeing’s investments in Québec, building upon existing contracts totaling over $2 billion with Canadian companies. These investments not only contribute to job creation and economic growth but are projected to yield substantial benefits, including nearly 3,000 jobs and $358 million annually in economic output, as per an independent study by Doyletech Corporation based in Ottawa.

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