Boeing is investing $61 million to benefit two British Columbia aerospace enterprises and bolster Canadian economic growth.
The investments are part of Boeing’s Industrial and Technological Benefits commitment to Canada for its selection of Boeing’s P-8A Poseidon to fulfill its long-range multi-mission aircraft role.
Boeing’s investment includes $13 million to support Parksville’s COTA Aviation, an Indigenous-owned aerospace and defence company.
This investment will equip COTA with advanced manufacturing equipment, enhancing their capability and capacity to produce commercial and military aircraft components. Additionally, funding will enable COTA to establish a dedicated hands-on aerospace manufacturing training facility. These initiatives will contribute to job creation and skills development in British Columbia.
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Boeing is also investing $48 million to fund a suite of research and development technologies at Boeing Vancouver in support of company programs, project management tools for increased collaboration with customers, and analytics to optimize aircraft maintenance, sustainability and performance for crewed and autonomous flight.
“Boeing’s substantial investments in two British Columbia aerospace companies highlight the capabilities and potential of BC’s surging aerospace industry,” said Brenda Bailey, BC’s Minister of Jobs, Economic Development and Innovation.
“These investments energize the growth of local communities with good, sustainable jobs, and keep the people of BC at the centre of our blueprint for a stronger, cleaner economic future.”
Dorian Cota, President of COTA Aviation, said Boeing’s investment greatly helps COTA meet growing capacity requirements while addressing a shortage of skilled labour and developing the workforce of tomorrow. “We are proud to partner with Boeing to enhance our training and grow our operations that will shape the future of aerospace in British Columbia,” he added.
The Government of Canada announced its decision to acquire the P-8A Poseidon aircraft in November 2023 as part of the Canadian Multi-Mission Aircraft project.
Boeing’s investments build on more than $2 billion in P-8 contracts with Canadian companies to date, contributing jobs and economic growth across the country.
According to an independent study by Ottawa-based Doyletech Corporation, the purchase will generate benefits of nearly 3,000 jobs and $358 million annually in economic output to Canada.
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