ABBOTSFORD, BC, May 24, 2013 /CNW/ - Today Aerospace Industries Association of Canada (AIAC) President and CEO Jim Quick was proud to join the Honourable Lynne Yelich, Minister of State for Western Economic Diversification (WD), as she announced federal funding for a two-year, multi-faceted project that will support Western Canadian aerospace companies as they develop their supply chains and compete in global markets.

The funding, which totals $533,840, will be administered by AIAC and used for seven specific projects designed to facilitate stronger Western Canadian involvement in domestic and international aerospace-related events, and enhance market access and supply chain development opportunities for western small and medium enterprises (SMEs).

"Our Western Canadian companies are leaders in their fields and critical to the success of Canadian aerospace both domestically and around the world," said Quick. "As the fifth-largest aerospace nation in the world, Canada is at its strongest when each region enjoys the support and collaboration that it needs. We are very pleased to collaborate with WD and our other partner organizations to ensure the Western aerospace industry is in a position to take full advantage of current and future opportunities to enhance their competitiveness."

"It's important that Western Canada's aerospace industry continues to be promoted to an international audience, giving it a competitive edge and allowing it to compete on a global stage," said Minister Yelich. "By supporting AIAC in delivering on initiatives like these, we are strengthening Western Canada's aerospace industry while showing the world what the West has to offer."

The announcement comes on the heels of the federal Aerospace Review, the release of the Emerson and Jenkins Reports, and the inclusion of several important aerospace initiatives in the 2013 Economic Action Plan.

"Canadian aerospace is a world leader and a key economic driver, and the government has made it clear that they are committed to its success," said Quick. "We thank Minister Yelich for her hard work and commitment to our Western companies, and we look forward to working with the government on increasing our companies' competitiveness, both in Western Canada and across the country."

AIAC is the national association representing Canada's aerospace manufacturing and services sector. As the world's fifth-largest aerospace industry, Canada's aerospace sector generates more than $22 billion, exports 80% of its output, and dedicates over 20% of its activity to research and development (R&D). Aerospace is responsible for the employment of 160,000 Canadians. AIAC represents the interests of over 700 aerospace companies across Canada.

SOURCE: Aerospace Industries Association of Canada

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Western Economic Diversification Minister Lynne Yelich Announces Funding to Support Western Canadian Aerospace Companies