Aerospace and defence (A&D) companies play a pivotal role in safeguarding nations and ensuring global security. For Atlantic Canadians, they also present opportunities to gain skilled employment, and contribute to economic growth. Atlantic Canada’s aerospace and defence industry accounts for almost 23,600 jobs, according to the 2022 Atlantic Canada Aerospace and Defence Association (ACADA) Economic Impact report. The industry was responsible for over $900 million in direct household income in Atlantic Canada in 2020.
The Government of Canada is investing to support innovation, expansion, automation and digitization in Nova Scotia’s aerospace and defence sector. Today, the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister Responsible for ACOA, announced total repayable investments of $4,144,807. Aerotec Engines Limited (Aerotec Engines) has received $500,000 to re-design and expand its facility, and to acquire advanced manufacturing equipment. These improvements will allow the company to increase efficiency, helping it become a leader in overhauling and repairing engines for the general aviation market. This project is also expected to create 10-15 new jobs. The funding announced today is provided through the Atlantic Canada Opportunities Agency’s (ACOA) Regional Economic Growth through Innovation Program (REGI).
“Strategic government funding empowers small and medium-sized businesses to grow and innovate. Nova Scotia has a strong network of successful Aerospace and Defense organizations, thanks in part to the forward-thinking efforts of ACOA. We look forward to the next chapter at Aerotec Engines, another step toward becoming a world leader in the industry.”
- Jason Crowell, President and Founder of Aerotec Engines
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