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Aéro Montréal unveiled the results of a study completed by PwC Canada on the economic benefits of the A220 aircraft program in Québec and Canada. According to this study, the development of this aerospace program has resulted in numerous economic benefits in Canada, including a significant contribution to the GDP, thousands of jobs, employment income, as well as tax revenues. The A220 program represents an integral part of aerospace investments in Québec, contributing to the technological leadership of Québec and Canada and strengthens university research.
“The PwC Canada study confirms the substantial contribution of the A220 program to the Quebec’s economy in general, and especially to the growth of its aerospace cluster. Thanks to major investments made since 2007, this program has made an important contribution to strengthening Québec’s aerospace expertise and leadership,” said Suzanne Benoît, president of Aéro Montréal. “The establishment of Airbus in the Greater Montréal region and its strong commitment to the growth of the program in Québec for years to come clearly demonstrates the attractiveness of our ecosystem within this highly technological and booming industry.”
Of note, the study estimates that the development of the A220 program generated a cumulative economic impact in Canada from 2007 to 2018 of $6.6 billion to GDP, an annual average of 6,437 jobs over 10 years, $4.1 billion in labour income and $1.7 billion in tax revenue. The study also presents the expected impact of program operations over the next 15 years.
You can find the study here.