$176 million invested by Boeing in Canadian aerospace

23 May 2024 CW Team

Boeing has agreed to sell Ottawa Poseidon military surveillance aircraft in exchange for an investment of $176 million over three years in three Canadian aerospace development projects. In November of last year, a contract for C$ 5.9 billion was agreed between the United States and Canada to buy up to 16 Poseidons and associated equipment. Boeing committed to making investments in Canadian businesses as part of the deal.

The C$240 million will be split between an aerospace innovation zone, a centre dedicated to the development of a four-seat air taxi, and a company that conducts research on enhanced landing gear in the province of Quebec. According to Brendan Nelson, President of Boeing Worldwide, these investments demonstrate Canada's leadership in aviation and Boeing's steadfast dedication to the nation.

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