FDI Fast Facts - No. 2 in an Invest in Canada Series
Harper Government Highlights Importance of Foreign Direct Investment to Aerospace Sector
FDI in aerospace spurs innovation and competitiveness and leads to good jobs and greater opportunity, says International Trade Minister Fast
December 9, 2013 - The Honourable Ed Fast, Minister of International Trade, today said foreign direct investment (FDI) is playing an important role in Canada’s dynamic aerospace sector, ensuring that Canada remains a world leader in this vital sector.
“With one in 10 Canadian jobs linked to foreign investment, our government understands that attracting investment to key sectors such as our aerospace sector creates prosperity for Canadian workers and their families,” said Minister Fast. “As it does in other sectors, foreign investment in aerospace spurs innovation and competitiveness and leads to good jobs and greater opportunity.”
In 2012, many international investors chose Canada over all other countries to help make its aerospace sector one of the world’s best. Accumulated FDI in the transportation equipment manufacturing sector, which includes aerospace, reached $18.5 billion in 2012. Some notable examples include:
- In the Greater Toronto Area, Japan-based Mitsubishi Heavy Industries opened a new facility, employing 529 workers.
- In Mirabel, Quebec, France-based Aerolia announced a $81-million project for a new head office and plant, supporting 150 jobs.
- In Bromont, Quebec, U.S.-based GE Aviation announced a $61-million project to build two new research and development centres, creating 80 new jobs.
“Because of our talent, creativity and competitive costs, investors are drawn to Canada’s aerospace sector,” said Minister Fast. “In addition, businesses from around the world recognize that our strong banking sector, low taxes and vibrant, safe communities contribute to their winning formulas. Our government will continue to position Canada as a destination of choice for global investors.”
Minister Fast is noting the benefits of foreign direct investment to the various sectors of Canada’s economy in the lead-up to this month’s release of the 2013-2014 annual report from Invest in Canada.
For more information, please visit Invest in Canada.
- FDI Fast Facts - No. 1 in an Invest in Canada Series – December 9, 2013
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For further information, media representatives may contact:
Office of the Honourable Ed Fast
Minister of International Trade
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