Study shows aerospace giant Boeing contributes $3 billion to Canadian economy
Boeing's four locations in Canada both directly and indirectly create positive economic effects, while supporting 17,000 jobs.0
According to a Boeing commissioned study, the US-based aerospace manufacturer contributes more that US$3 billion annually to Canada’s economic growth development.
The study by Doyletech Corporation, a Canadian strategic management consultancy, suggests that Boeing’s four locations in Canada include Winnipeg, Richmond, Montreal and Ottawa both directly and indirectly create positive economic effects.
The aerospace company supports more than 17,000 jobs across the country and contributes to nearly 14 percent of Canada’s aerospace industry.
“Boeing has been a strong partner to Canada since 1919, and these results demonstrate the significant continued economic benefits to Canada from Boeing’s long-term commitments and collaboration with Canada’s aerospace industry,” said Maria Lane, Defense Space & Security vice president of International Strategic Partnerships. “This study helps to quantify Boeing’s impact for Canadian industry. Looking ahead, we are committed to growing our partnership with Canada, supporting local jobs and growth across the country.”
The study found that Boeing’s spending in Canada has grown at an average annual rate of nearly eight percent, four times as much as the Canadian economy’s growth rate.
Boeing will contribute more than US$10 million this year toward the Canadian government’s objectives in science, technology, economic evolution and growth at the province level.
Doyletech explored three different areas where Boeing contributes to the Canadian economy. The three areas include Boeing as an “Agile Producer,” direct and indirect contributions to Canada’s science policy and national science and technology objectives through Doyletech’s EconWin economic impact model; and estimated direct, indirect and induced spending and jobs related to Boeing operations and supply chain in Canada.
“Working with a country is about more than selling aircraft. It’s about creating measurable long-term partnerships across government, industry, research centers and the community,” said Roberto Valla, Defense, Space & Security vice president for Global Sales for Canada. For Valla, the study suggests that collaboration between Boeing and Canadian industry can produce widespread, mutual economic benefit and technological growth for decades.
The study will support Boeing’s development of a tailored industrial engagement plan, through Innovation, Science and Economic Development Canada, related to its offering of the F/A-18 Super Hornet fighter jet to Canada.