Today, the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has announced an investment of C$2.6 million in non-profit Downsview Aerospace Innovation and Research (DAIR), to help reduce the environmental footprint of the aerospace sector. This investment seeks to bolster the government’s initiative toward a greener future and help small to medium enterprises (SMEs) become more competitive by advancing them in the local and global aerospace supply chain.
With this non-repayable investment, DAIR seeks to facilitate innovative collaboration between industry and academia and support sustainable aviation with the launch of the Green Fund, a program to help commercialize projects that are designed to reduce the environmental footprint of the aerospace sector. The organization is also working to build a physical aerospace innovation hub at Downsview Park in Toronto, and will launch a Supplier Development Initiative to provide growth opportunities to 16 SMEs in Southern Ontario.
“Small and medium aerospace businesses have an important role to play in southern Ontario’s economic recovery, which is why the Government of Canada is committed to supporting them and protecting the thousands of workers this sector employs,” said Honourable Helena Jaczek, Minister responsible for FedDev Ontario. “Organizations like Downsview Aerospace Innovation & Research are helping strengthen our region’s future economy, while working towards greening Canada’s aerospace sector.”
This investment is part of Government of Canada’s Aerospace Regional Recovery Initiative (ARRI). FedDev Ontario is providing C$67.5 million to southern Ontario out of ARRI’s national budget of C$250 million, to be delivered over three years. Since 2015, FedDev Ontario has invested over C$120 million in more than 25 aerospace projects across southern Ontario, and created and maintained 800 jobs.
The post Government of Canada invests C$2.6 million to reduce aerospace sector’s environmental footprint first appeared on IT World Canada.