The Quebec authorities is investing one other US$300 million — or $413 million Canadian — within the Airbus A220 business jet program, previously generally known as the C Collection.
Quebec Premier François Legault made the announcement Tuesday afternoon on the Airbus meeting web site in Mirabel, Que.
He visited the plant alongside Financial system and Vitality Minister Pierre Fitzgibbon Airbus Canada President and CEO Benoît Schultz and several other MNAs for Mirabel and Les Plaines.
Legault mentioned Airbus will make investments US$900 million with the purpose of increasing its actions and with Quebec’s US$300 million, the entire funding reaches US$1.2 billion.
He additionally mentioned Airbus has assured that two-thirds of the roles concerned in constructing the jets will stay in Quebec.
The funding maintains Quebec’s 25-per-cent share in this system and postpones the federal government’s exit from its funding by 5 years, to 2035 as a substitute of 2030. Airbus has taken a decrease stake to maximise their financial advantages in Quebec.
“Today, we are consolidating the presence here of Airbus, an aerospace giant, in a sector that creates enormous wealth for the province,” Premier Legault mentioned in a press launch. The key firm at the moment employs 4,000 folks in Quebec, together with 3,500 in A220 manufacturing.
Minister Fitzgibbon famous that “the A220 is the fruit of Quebec genius, and we can be proud of developing one of the best aircrafts in the world.”
The injection of funds follows a earlier authorities funding of $380 million in 2022, after Airbus invested $1.1 billion.
The Quebec authorities funnelled $1.3 billion into Bombardier’s C sequence program in 2015, earlier than it was bought by Airbus in 2018.
The A220 jet is assembled in Mirabel and Cell, Ala., and Airbus says it expects this system to be worthwhile by 2026.
–This report by La Presse Canadienne was translated by CityNews
