The government of British Columbia yesterday reaffirmed its commitment to the province’s aerospace sector.
In releasing the country’s first balanced budget, the government included the second installment of a five-year, $5 million promise made during the last election and initiated in Budget 2014 to expand B.C.’s aerospace cluster.
The initiative is part of a partnership with the recently formed Aerospace Industries Association of Canada Pacific office, or AIAC Pacific, to develop a provincial aerospace strategy. The association says there are over 160 companies involved in sector that employ over 8,000 British Columbians and generate $2.4 billion in revenues annually, which equates to a $1.3 billion contribution to the province’s Gross Domestic Product.
In the budget, the government said the funding is aimed at “expanding markets and attracting more global business and investment to the province.”
“British Columbia is home to many of Canada’s most vibrant and innovative aerospace companies,” said David Schellenberg, Chair of AIAC Pacific. “The government clearly recognizes the contribution this industry makes to the province’s diversified economy and is demonstrating a strong desire to see the aerospace industry take advantage of global market opportunities to create more high-paying technology jobs in B.C.”
Among other things, the funding has supported an aerospace industries economic impact and capabilities study and helped industry engage federal initiatives such as the development of a national aerospace research network (CARIC) and a national supply chain program.
For an more on AIAC Pacific and its initiatives with the province, see Vanguard’s interview with vice president Jay Teichroeb: https://vanguardcanada.com//aerospace-association-pivots-to-the-pacific/