Dépêches

Ontario's Aerospace Sector Taking Flight

Dépèche transmise le 7 avril 2011 par Business Wire

TORONTO--(BUSINESS WIRE)--Ontario, Canada is helping a Mississauga aerospace company bring new products to market while creating 80 new jobs and supporting 49 existing jobs.

The province is helping aircraft engine manufacturer Pratt & Whitney Canada (P&WC) invest in new technology, equipment and Research and Development to increase its innovative and environmental technologies and diversify its product base, including the development of more electric engine technologies. This will help operators to reduce their fuel consumption and emissions, decreasing the impact of air travel on the environment. New manufacturing processes will also help to reduce waste and increase efficiency.

"Supporting advanced manufacturing remains a key priority for Ontario. Working with companies like Pratt & Whitney Canada (P&WC) to help them stay at the forefront of their field helps keep our manufacturing sector competitive. Ontario's aerospace sector provides 22,000 jobs for Ontarians across the province, including the good people of Mississauga," said Sandra Pupatello, Minister of Economic Development and Trade.

"Our long-standing commitment to innovation has made us a key player within Canada's aerospace industry. Pratt & Whitney Canada will be making a new investment of almost $140 million in innovation projects in Ontario between now and 2014. With the province's investment, we will continue doing things that make us a world leader in our field with a focus on product innovation and development, green technologies, employee training and process improvements. P&WC continues to play a major role in Ontario's aerospace industry and bring new jobs to the province," said Walter Di Bartolomeo, Vice President, Engineering, Pratt & Whitney Canada.

QUICK FACTS

• Pratt & Whitney Canada (P&WC) is a world leader in the design, manufacture and service of gas turbine engines with up to 20,000 lbs. of thrust. These engines power general aviation aircraft, regional aircraft, corporate aircraft, trainer aircraft, utility aircraft, helicopters, auxiliary power units, unmanned aerial vehicles and engines for industrial applications.
• P&WC is investing $139.2 million in the project, with Ontario providing a grant of $13.9 million. Ontario's aerospace industry employs 22,000 people and generates annual sales of approximately $6.5 billion, about 80 per cent of which are exports.
• Ontario has recovered 91 per cent of the jobs lost during the recession.
• As a result of the tax changes in Ontario, taxes on business investment were cut in half, making Ontario more competitive and encouraging new business investments.

LEARN MORE

• See how Ontario's Budget 2011 is supporting job creation and helping the province's economy to turn the corner.
• Check out government-funded programs and services for Ontario businesses.
• Learn how Ontario's comprehensive tax plan, including the HST, will help support business.