The Government of Canada has announced a C$372.5m ($283m) in repayable contributions for Bombardier’s Global 7000 business jet and C Series aircraft programmes.
To be provided over four years, the fund will be used in the research and development for Bombardier’s new Global 7000 business jet, as well as the ongoing activities related to the development of the company’s C Series aircraft programme.
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In addition, the newly announced fund will support several middle-class jobs and help Bombardier to build new-generation aircraft.
Through its strategic aerospace and defence initiative (SADI), the government will provide the portion of the loan earmarked for Bombardier’s Global 7000 jet programme, while the remainder will be funded through the government’s existing contribution agreements with Bombardier.
Canada Government science and economic development innovation minister Navdeep Bains said: “This contribution from the the government of Canada will secure the highly skilled, well-paying jobs for middle-class Canadians who work in the aerospace sector.
“It will also ensure that Canada has a strong, stable and competitive aerospace industry, which is a major driver of economic activity and innovation across the country. Bombardier plays a vital role, both as an anchor employer and an innovation leader."
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By GlobalDataLast October, the government announced an investment of up to C$54m ($41m) to support a Bombardier-led consortium under its technology demonstration programme.
