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Mississauga aerospace company to get multi-million federal funding: report

December 8, 2014
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Ottawa has announced a $300-million investment in Pratt and Whitney Canada to help the company develop and build the next generation of jet engines.

The government says the money will help support nearly 1,500 jobs over the next five years.

Industry Minister James Moore and Infrastructure Minister Denis Lebel made the announcement at company facilities in Mississauga, and Longueuil, Que., where much of the work will be done.

The company says it will invest over $1 billion in research and development over the next four-and-a-half years.

“The Government of Canada’s investment enables PWC to invest over $1 billion overall to pursue its long-standing legacy of innovation and sustain its engineering and manufacturing Centres of Excellence in Alberta, Ontario, Quebec and Nova Scotia,” John Saabas, president of Pratt and Whitney, said in a release.

The contribution by the government is a $300-million repayable contribution through its Strategic Aerospace and Defence Initiative.

Pratt and Whitney Canada employs 6,000 people in Canada.

“This investment will support over 6,000 high-quality Canadian jobs and countless others across Canada,” Moore said.

The company is building the new geared turbo fan engines that are being used on Bombardier’s CSeries aircraft which is undergoing flight tests.

Article source: http://www.citynews.ca/2014/12/08/mississauga-aerospace-company-to-get-multi-million-federal-funding-report/

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