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$30 million in funding to aerospace R&D

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Core Tip:The Consortium for Aerospace Research and Innovation in Canada (CARIC) and Industry Canada announced today the

The Consortium for Aerospace Research and Innovation in Canada (CARIC) and Industry Canada announced today the signature of an agreement of $30 million over five years.

The funding will help the CARIC initiate collaborative R&D projects, support its operations and deploy networking activities across Canada. The Honourable Ed Fast, Minister of International Trade, made the announcement on behalf of the Honourable James Moore, Minister of Industry, at the 2014 Aerospace, Defence and Security Expo, in Abbotsford, British Columbia.

This industry-led network will enhance the global competitiveness of the Canadian aerospace industry by bringing together key players from industry and academia and funding collaborative research and technology development projects to move our industry forward, indicated James Moore through a release.

The announcement was welcomed by Walter Di Bartolomeo, Chairman of CARICs Board of Directors and Vice President, Engineering, Pratt & Whitney Canada: On behalf of CARICs Board of Directors, I am grateful for the federal governments support. This important milestone enables the official launch of our operations and support to research projects. With these projects, the Canadian aerospace community will stay at the forefront of the industry, shared Mr. Di Bartolomeo.

Denis Faubert, President and CEO of CARIC, also highlighted the consortiums strategic role in the Canadian economy. The relative importance of the aerospace industry to the Canadian economy is second to none in the world, explained Mr. Faubert. CARIC will be instrumental in pulling together the resources of the aerospace R&D community across Canada to maintain the leadership of our industry despite tough competition worldwide.

SOURCE CARIC


 
 
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