Prime Minister Trudeau announces an investment to CAE in Montréal
Thank you, Hélène, for your wonderful words! Hello everyone! It’s a pleasure to be back in Montréal, particularly given that I’m here to deliver such good news. Before I go any further, I would like to say hello to Premier Philippe Couillard and Mayor Valérie Plante, who are with us this afternoon. I would also like to thank Marc Parent, President of CAE, for his warm welcome and also welcome the Minister of Tourism and the MP for Ahuntsic-Cartierville, Mélanie Joly, as well as our local MNA for Saint-Laurent, Emmanuella Lambropoulos. Nice to see you here.
You know, when it comes to innovation, Montréal is continually proving itself to be a world leader, a city that is firmly focussed on the future. It is a city synonymous with progress, in part because Quebeckers were among the first to recognize the tremendous potential of new technologies. Whether we are talking about aerospace or artificial intelligence, our talent has shone far beyond our borders for many years. Innovation is driving today’s global economy, and our country is very well positioned to take full advantage of the new opportunities that result from it. There is no doubt that Canada stands out as a country that wants to build momentum for progress and be at the forefront of the advances that will transform our world. And it’s partly thanks to companies like CAE whose work is a testament to the talent and expertise that exists here in Quebec.
Recognized around the world, CAE is a leader in simulation and modelling technologies, but the company’s success was built on its ability to innovate. To go even further and aim even higher. CAE’s digital intelligence project is just the latest example. Today, I am pleased to announce that the Government of Canada will provide $150 million through the Strategic Innovation Fund to support this investment project.
This initiative aims to develop and integrate digital technologies such as artificial intelligence and virtual reality in a host of sectors including health care, aviation and security systems. To encourage a range of ideas and experience that is so critical to the success of any project, CAE is committed to launching the gender and diversity action plan. An estimated 400 new specialized positions will be created to complete this project, and the company will also create 550 co-op internships for students and double the number of scholarships.
We expect this project to create 400 new highly skilled jobs and the company will also add 550 new co-op internships and double the number of scholarships for students.
CAE understands the importance of training and supporting the next generation of innovators. After all, they are the ones who will one day take over. Future success, not only of the company, but also of the innovation sector, depends on students and young professionals.
As part of this new project, CAE will also be supporting the Canadian Innovation Ecosystem. Indeed, CAE will spend a minimum of a billion dollars in research and development across the country by 2023, and expand its qualified Canadian supplier list by 150 companies. This is great news for CAE’s Canadian partners who will undoubtedly benefit from this funding and the new findings it will yield.
My dear friends, Quebeckers’ expertise in innovation and their potential for the future are beyond doubt. Today’s announcement is proof of that. Again, thank you all for being here with us today.