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Filomena Tassi, the federal minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), visited the Region of Waterloo International Airport on Wednesday with MPs from local ridings to announce more than $22 million in investments through the Aerospace Regional Recovery Initiative (ARRI).
The FedDev funding will help six projects increase manufacturing and productivity, build greener operations, and offer training within southern Ontario’s aerospace sector.
Cambridge-based Shimco North America, a full service custom shim and small-part aerospace manufacturer, will receive a $1.2 million loan through ARRI to construct a 20,000-square foot addition to its manufacturing space on Heroux Devtek Drive, and purchase new advanced equipment.
As a result of this investment, the company will be able to improve productivity and reduce its environmental footprint by increasing their production capacity and installing new efficient machinery, while creating 24 new jobs and maintaining an additional 36 jobs, said a press release.
“We were extremely pleased to have been approved for this support under the ARRI program. The funding will allow Shimco to remain competitive on the international contracts it competes for and will support Shimco on its path in becoming one of the world leaders in the markets it serves," said Shimco CEO Peter Voss in a press release.
A second local investment went to the Waterloo Institute for Sustainable Aeronautics (WISA), billed as Canada’s first sustainable aeronautics institute housed within the University of Waterloo.
Through the support of four distinct projects and a nearly $9.2 million loan, WISA will expand its ability to support the southern Ontario aerospace sector by equipping an Innovation Hub at the Waterloo Region Airport to mobilize research, access green technologies and provide hands-on aviation training, support up to 39 research projects to solve sector-specific challenges, deliver support for up to 12 SMEs to commercialize products focused on aeronautical sustainability and develop two aeronautical sustainable e-learning courses.
This project is expected to support over 65 jobs and up to 30 SMEs in the Waterloo Region.
“I believe in a future where every flight we take is socially, economically and environmentally sustainable," said Dr. Vivek Goel, President and Vice-Chancellor, University of Waterloo.
“WISA — the first institute of its kind in Canada — can play a vital role in achieving sustainability in the aviation and aerospace industries," added Dr. Suzanne Kearns, Associate Professor of Aviation, Founder and Director of the Waterloo Institute of Sustainable Aeronautics, University of Waterloo.
Launched in the fall of 2021, its mission is to become the world’s leading hub for research, technology and education that will build a sustainable future for the aviation, aerospace and space industries.
Four other Ontario projects shared in the funding, including the First Nations Technical Institute (FNTI), an Indigenous-owned and governed post-secondary institute in Tyendinaga Mohawk Territory, which offers training programs in many disciplines, including aerospace and an advanced aviation program.
