Canada’s new conservative government has revealed plans to invest almost C$900 million ($785 million) in aerospace and defence over the next five years.
The announcement was welcomed by the Canadian aerospace industry, which had been concerned that the government might not replace the original Technology Partnerships Canada (TPC) initiative, which was closed at the end of 2006.
The Strategic Aerospace and Defence Initiative (SADI) is a risk-sharing partnership described by Aerospace Industries Association of Canada chairman, Don Campbell, as “critical to sustaining the more than C$! billion a year our companies invest in aerospace R&D in Canada”.
When in opposition, the conservatives were critical of TPC, only two-thirds of which went to aerospace and defence, wheras SADI will focus entirely on the sector. Industry minister Maxime Bernier says the new scheme is a “cross-Canada initiative including strong transparency and accountability requirements, and faster repayment features”.