News release
Governments of Canada and Prince Edward Island invest $5 million to support growth of innovative aerospace businesses
July 9, 2018 – Slemon Park, PE – Atlantic Canada Opportunities Agency
In Western Prince Edward Island, businesses in aerospace and advanced manufacturing are leading through innovation in technology, training, and sector growth. That is why the governments of Canada and Prince Edward Island are investing in the province’s aerospace sector to advance innovation and create well-paying, middle-class jobs.
The Honourable Navdeep Bains, Minister of Innovation, Science, and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), along with Bobby Morrissey, Member of Parliament for Egmont, and the Honourable Wade MacLauchlan, Premier of Prince Edward Island, today announced a $5 million investment for major infrastructure upgrades to Slemon Park.
The Government of Canada, through ACOA’s Innovative Communities Fund (ICF), will provide a non-repayable contribution of $2,000,000 to Slemon Park Corporation for upgrades to a 300,000 sq. ft. multi-tenant facility (Hangar 8) to support the growth and diversification of the aerospace industry in the province. In addition, through ACOA’s Business Development Program (BDP), a conditionally repayable contribution of $750,000 will also support an infrastructure fit-up and building improvements for tenant StandardAero to expand its operations and improve productivity.
The Government of PEI will contribute $1,500,000 in non-repayable support to Slemon Park through its Business Development Fund. The Government of PEI will also provide $750,000 in repayable support to Slemon Park Corporation to assist with the facility expansion.
These investments build on commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in the region through the Atlantic Growth Strategy. This Strategy focuses on building a strong culture of innovation by supporting creative and entrepreneurial people, creating jobs, and investing in state-of-the-art technologies.
Quotes
“As the fastest growing industry in PEI, aerospace is a success story built on innovation. It comes from understanding the strengths of a region and building on those assets through strategic investments. The Government of Canada is pleased to support projects like this that bring well-paying jobs to Atlantic Canada and help forge a long-term, globally competitive economic path.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency
“Prince Edward Island’s growing aerospace industry is creating good jobs for Islanders and investing in our local communities. The new expansion and upgrades to Slemon Park will help ensure one of the industry’s largest employers – StandardAero – remains an anchor of the aerospace sector on Prince Edward Island while creating up to 50 new jobs.”
- The Honourable Wade MacLauchlan, Premier of Prince Edward Island
“Slemon Park has been an essential resource to diversifying economic development in Western PEI. Its extensive, state-of-the-art infrastructure has encouraged investment and business growth in our communities, created significant employment opportunities for Islanders, and has shown that rural PEI makes an excellent home base for innovative ideas.”
- Bobby Morrissey, Member of Parliament for Egmont
“We congratulate the management and staff of StandardAero Summerside on becoming the centre of excellence for turboprop engines within the StandardAero family – and we thank the federal and provincial governments for enabling the infrastructure upgrades to facilitate their expansion.”
- Shawn McCarvill, President, Slemon Park Corporation
“The continued partnership between StandardAero and government and community leaders is unparalleled. We have continued to grow not only our presence in the community but also our investment into the great people here in terms of their knowledge, skills, capabilities and their future. We look forward to continuing this evolutionary path for aerospace and our community many more years to come.”
- Jeff Poirier, Vice President and General Manager, StandardAero
Quick facts
- The Slemon Park property had a 50 year history as RCAF Station Summerside and CFB Summerside. In the 1990s, ACOA supported the property redevelopment as an aerospace and business park through a $10 million contribution to Slemon Park Corporation (SPC).
- Slemon Park Corporation (SPC) is an economic development organization with a focus on aerospace, training and real estate development on Prince Edward Island.
- Slemon Park is home to Vector Engine Services Atlantic Inc. (now doing business as StandardAero), Honeywell Limited, MDS Coating Technologies Corporation, Tronosjet Maintenance Inc. and other commercial tenants.
- The aerospace industry on PEI has expanded outside of Slemon Park, including the establishment of Action Aero and 3 Points Aviation in Charlottetown.
- The aerospace and defence industry directly employs over 900 people and generated sales of approximately $405 million boosting gross domestic product by $149 million in the province in 2015.
- StandardAero is Prince Edward Island’s largest aerospace company. In 2017, StandardAero purchased the shares of Vector Aerospace, including all of Vector’s international operations.
Contacts
Mallory Clyne
Director of Communications
Office of the Minister of Innovation, Science and Economic Development
343-291-2500
mallory.clyne@canada.ca
Media Relations
Innovation, Science and Economic Development Canada
343-291-1777
ic.mediarelations-mediasrelations.ic@canada.ca
Chris Brooks
Director of Communications
Atlantic Canada Opportunities Agency
902-566-7569
chris.brooks@canada.ca
Andrew Sprague
Senior Communications Officer
Department of Economic Development and Tourism
902-368-5535
Shawn McCarvill, CPA, CA
President
Slemon Park Corporation
902-432-1704
Jeff Poirier
Vice President and General Manager
StandardAero
902-436-1333