Quebec Budget 2024-2025

$74.5 million to support the growth of Quebec’s aerospace sector

Québec City, March 12, 2024 – Aéro Montréal welcomes the government’s commitment to supporting the growth of Quebec’s aerospace sector. With a financial investment of $74.5 million over five years, the Government of Quebec aims to improve the competitiveness of aerospace companies, foster the development of new technologies, and attract talent. Since the allocation of this investment was not detailed in the 2024–2025 budget, Aéro Montréal will, in the coming days, make the necessary representations to better understand and support the government in implementing concrete actions for companies within the cluster.

Addressing the labour shortage challenge

Aéro Montréal applauds the government’s interest in encouraging talent attraction. The cluster looks forward to strengthening its collaboration with the Ministry of Labour to propose innovative initiatives that will stimulate the attraction and retention of the 41,500 skilled workers the industry will require over the next decade.

Ensuring Quebec’s competitiveness

The allocation of $125 million over five years for the establishment of industrial laboratories within innovation zones is also an encouraging step toward achieving a major goal of the aerospace cluster: the official designation of a Quebec aerospace innovation zone.

“A dedicated designation for the sector would be the next step in repositioning Montréal as a global leader in the ecosystem, and the investment in industrial laboratories sends another strong signal that the project proposed by the aerospace industry is aligned with the government’s vision,” commented Mélanie Lussier, President and CEO of Aéro Montréal.

“In summary, this budget brings good news for the aerospace industry, echoing the board of directors’ priorities on three essential levers: innovation, competitiveness, and talent. We look forward to working with the government to understand the details and distribution of this investment. At the heart of our concerns is the labour shortage affecting our companies. We must act quickly to ensure that these measures truly help attract and retain the 41,500 skilled workers needed over the next decade,” added Mélanie Lussier, President and CEO of Aéro Montréal.

Highlights for Quebec’s aerospace sector

• An investment of $74.5 million over five years to support the development of new aerospace technologies, enhance competitiveness, and attract talent.
• $125 million over five years to establish industrial laboratories within innovation zones.
• Abolition of the tax credit encouraging companies to retain experienced workers.
• Initiatives totalling $400 million over five years to promote immigrant integration, including support for businesses offering workplace francization.
• $370 million to support student success and retention at the university level.
• $43 million to strengthen training in priority fields and support digital transformation, including $26 million over five years to increase the number of graduates in priority disciplines, and $10 million over five years to support teacher training pathways.
• Initiatives totalling $203.6 million over five years to support emerging technologies and modernize property taxation to encourage automation and robotics.
• $9 million over three years to support business succession and ensure entrepreneurial continuity.
• $27 million to improve air service in Quebec’s regions.

About Aéro Montréal

Founded in 2006, Aéro Montréal is a strategic think tank that brings together the CEOs of Quebec’s aerospace sector from industry, academia, research centres, as well as associations and unions.

Aéro Montréal’s activities are made possible thanks to the participation of the Governments of Canada and Quebec, the Montréal Metropolitan Community, and its member companies.

-30-

Media contact:
Léa Guicheteau
Aéro Montréal
514-550-7494
lea.guicheteau@aeromontreal.ca