|By Marketwired .||
|August 8, 2014 05:11 PM EDT||
ABBOTSFORD, BRITISH COLUMBIA -- (Marketwired) -- 08/08/14 -- The Honourable Ed Fast, Minister of International Trade, on behalf of the Honourable James Moore, Minister of Industry, today committed government support in the amount of $30 million over five years to a newly formed, industry-led network dedicated to aerospace innovation. The network, the Consortium for Aerospace Research and Innovation in Canada (CARIC), launched in April 2014. Minister Fast made the announcement at the 2014 Aerospace, Defence and Security Expo.
CARIC will promote collaboration in aerospace research and innovation by strengthening linkages between researchers in industry, academia and research institutes in Canada and abroad and by partially funding earlier stage collaborative research and technology development (R&TD) projects in the aerospace industry at the low to mid technology readiness levels (TRL). The $30-million contribution will be used to fund collaborative R&TD projects and to support CARIC's operations and networking activity functions across Canada.
With the government's financial support, CARIC will help to strengthen the competitiveness of Canada's aerospace industry by accelerating the pace of technology development, increasing private sector investment in R&TD, developing highly qualified personnel in Canada, and providing students with industry-relevant skills and expertise.
-- In 2013, Canada's aerospace industry was responsible for more than 170,000 jobs and contributed nearly $28 billion to the economy. Aerospace is a priority sector under Canada's Global Markets Action Plan. -- The Consortium for Aerospace Research and Innovation in Canada (CARIC) stems from a recommendation in the report from the Review of Aerospace and Space Programs and Policies, which was led by the Honourable David Emerson. The report focused on partnerships and innovation and highlighted the importance of collaborative research and development to the aerospace industry's competitiveness. -- Mr. Emerson called for the establishment of a national network to promote collaborative research and development and recognized the Consortium for Research and Innovation in Aerospace in Quebec for its work in encouraging such partnerships. -- Minister Moore announced government support for further development of a national network based on this approach in December 2013. -- In addition to providing support for CARIC, the government has taken action on key findings in Mr. Emerson's report including recommendations to establish a new Technology Demonstration Program and to improve the Strategic Aerospace and Defence Initiative.
"Our government recognizes the importance of investing in and giving opportunities to the aerospace industry. We also know that industry and academia must work together, with government support, to ensure the long-term competitiveness of Canadian aerospace. The launch of the industry-led consortium is a tremendous milestone."
- Ed Fast, Minister of International Trade
"We are delivering on the priorities identified by Canada's aerospace industry to ensure that it remains on top in a fiercely competitive international market. 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."
- James Moore, Minister of Industry and Minister Responsible for British Columbia
"The relative importance of the aerospace industry to the Canadian economy is second to none in the world. 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."
- Denis Faubert, PhD, President and Chief Executive Officer, Consortium for Aerospace Research and Innovation in Canada
Follow us on Twitter: @industrycanada
Director of Communications
Office of the Minister of Industry
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