The Honourable James Moore, PC, MP
Minister of Industry
December 8, 2014
Check Against Delivery
Thank you, Bal [Gosal] for that kind introduction.
And a big thank you to Pratt & Whitney Canada for welcoming us here this morning.
It is a pleasure to be here today in Mississauga to make this important announcement on behalf of Prime Minister Stephen Harper.
Since 1928, Pratt & Whitney has made aircraft engines in Canada.
Those engines have propelled aircraft around the world.
The 100 engines that Pratt & Whitney has certified in the last 25 years is a record in the industry.
Today, a Pratt & Whitney–powered aircraft, with engines built in Canada, takes off or lands somewhere in the world every second.
In the next 25 years, we hope Pratt & Whitney will certify at least another 100 engines for air travel around the world.
Which brings me to why I'm here today.
I'm pleased to announce our government is providing Pratt & Whitney Canada with important funding to develop the latest environmentally friendly jet engines.
Our government will provide $300 million—a repayable contribution—to support this project, which focuses on new technologies that will power lightweight, eco-friendly engines.
This funding will contribute to the development of an engine that will reduce the environmental footprint of aircraft by creating lighter, quieter engines.
The majority of this work will be done here in Mississauga and in Longueuil, Quebec.
This project will maintain nearly 1,500 Canadian R&D jobs over the next five years.
This is very important. Our government's top priorities are the economy and creating jobs and opportunities for Canadian families. And that's exactly what today's announcement is about.
It will ensure that Pratt & Whitney's nearly 6,000 Canadian employees will do what they do best—innovate—right here in Canada.
More than 65 Canadian suppliers will contribute to this work. This project will also support countless spinoff jobs created by these members of Pratt & Whitney's supply chain.
Finally, this investment will support Canada's future aerospace workforce by contributing $15 million in project costs toward collaborations with Canadian universities.
Under the leadership of Prime Minister Stephen Harper, our government is committed to making investments like this one that allow Canadian companies to succeed.
It is clear that Pratt & Whitney Canada is succeeding.
You are creating and maintaining quality jobs for Ontario families.
You are growing our economy by amassing a supply chain of more than 1,200 companies.
You are a leader in our aerospace industry, an industry that is the fifth largest in the world.
Our government will continue to make investments that create jobs and improve the quality of life of Canadians.