On February 7, 2017, Innovation Minister Navdeep Bains affirmed the Government of Canada will provide $372.5 million in repayable contributions to Bombardier. Custom scale models of the CSeries and Global 7000 aircraft served as visual aids at the press conference.
The sizable investment will stimulate innovation and maintain the country’s leadership in the aerospace sector. Currently, the industry accounts for more than 211,000 jobs and provides $28 billion annually to the country’s GDP. Nearly one-third of research and development activity in manufacturing for Canada also stem from Bombardier.
Payable over the course of four years, the funds will go towards the airframe’s Global 7000 business jet and CSeries commercial jet programs. The CSeries has already entered service and the Global 7000 is expected to begin commercial service in 2018.
For more on this story, visit www.bombardier.com.
Update 7/23/18: The Bombardier CSeries aircraft is now the Airbus A220.