News
For Immediate Release
Toronto
06/29/2010
Aerospace Innovation Taking Off In Toronto: McGuinty Government Supports Local Manufacturing And Job Creation
NEWS
Ontario is helping a Toronto-based aerospace company develop new technologies and create jobs.
Firan Technology Group (FTG) is expanding their range of advanced materials and other technologies for printed circuit boards used in aircraft. These new boards will provide airplanes with smaller, lighter electronics helping to enable more efficient and safer air travel, and contributing to Ontario’s role as a leader in the aerospace industry.
Ontario is contributing $5.11-million to support the $17.03-million project which will create 30 new jobs over the next five years and retain 50 other positions.
Partnering with local manufacturers is a key component of the five-year Open Ontario plan to create new job opportunities and promote economic growth in the province.
QUOTES
“Today’s announcement is another great example of the innovative work being done in Ontario - resulting in new jobs and new investment. We’re pleased to partner with a company such as FTG, and we’re committed to supporting our advanced manufacturing sector by providing one of the most competitive business environments in North America.”
— Sandra Pupatello, Minister of Economic Development and Trade
“Firan Technology Group is a leader in aviation technology, and they’re working hard to stay at the forefront of their field. We’re pleased to support their efforts, creating new jobs in our community and boosting Ontario’s advanced manufacturing sector.”
— Bas Balkissoon, MPP for Scarborough-Rouge River
“We greatly appreciate the government’s support to help manufacturers succeed in the face of the high Canadian dollar, a changing economy and strong competition. FTG feels confident it has the skilled workforce to offer innovative, high-tech solutions for the Aerospace sector.”
— Bradley Bourne, President, CEO and Director, Firan Technology Group
QUICK FACTS
- The value of the Aerospace and Defence printed circuit board market globally is estimated to be $1.8-billion.
- Ontario’s Aerospace and Defence industry employs about 19,000 people with annual sales of approximately $4 billion (source: Stats Canada), about 80 per cent of which are exports.
- The value of the commercial Aerospace market for new planes is estimated to be $2.6-trillion over the next 20 years.
- As a result of business tax cuts and the move to a Harmonized Sales Tax, the tax on business investment in Ontario is being cut in half, making Ontario businesses more competitive.
LEARN MORE
Find out more about Ontario programs supporting business.
For more information:
Leigh-Ann Popek
Minister's Office
416-325-0362
Eric Shapiro
Communications Branch
416-325-6698
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