In a significant move, Boeing, a global leader in aircraft manufacturing, has announced a $240 million investment as part of a partnership with the Quebec government to create an aerospace innovation zone in the Montreal area. The total investments for this project amount to $415 million, with the Quebec government contributing $85 million.

Premier François Legault and Economy Minister Pierre Fitzgibbon unveiled the project during an annual aerospace international forum held in Montreal. Legault emphasized the benefits of the project, stating, “It’s for the benefit of all the society because we create very high paid jobs.” However, he clarified that the objective is not just job creation but rather replacing lower-paying jobs with better-paid positions to foster wealth creation.

Boeing’s investment makes up the bulk of the $330 million contributed by several private companies, including Pratt & Whitney Canada, Airbus, Bombardier, Flying Whales Québec, and Thales Canada. This partnership solidifies Boeing’s presence in Canada, where it already has more than 500 suppliers.

Brendan Nelson, Boeing Global president, highlighted Montreal’s status as the leading aviation research and development precinct in the world, stating, “That’s why we’re here.” This announcement comes amidst recent challenges faced by Boeing with its 737 Max Airliners program, which has been plagued by technical issues.

In March, Boeing CEO Dave Calhoun announced his plans to step down from the company at the end of the year as part of a broader management shuffle, marking a tumultuous period that has shaken faith in one of the U.S.’s most-storied manufacturers. Despite these challenges, Boeing has stated that it is working with regulators to address the issues, and Quebec’s premier has expressed confidence in the company.

This partnership between Boeing and the Quebec government represents a significant investment in the future of aerospace innovation, with the potential to create high-paying jobs and drive economic growth in the region.

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