Education & Training
Canada invests $150M in CAE to help with training and new jobs
August 8, 2018 by Manufacturing AUTOMATION
August 8, 2018 – The Canadian government has announced a $150-million investment in CAE – a simulations and training supplier for the aerospace and healthcare sectors – which will create up to 400 new engineering and manufacturing jobs over the next five years.
The commitment is part of a $1 billion overall investment from CAE in research and development, which, in addition to the new jobs, will involve retraining 1,700 employees with new digital skills and collaborating with 50 post-secondary institutions and research centres across Canada.
The company will also develop new simulation tools and training programs using the latest technologies in cloud computing, artificial intelligence, big data and AR/VR.
“Canadians will benefit from more middle-class jobs, more skills training opportunities, and innovative new products thanks in part to this investment,” said Navdeep Bains, minister of innovation, science and economic development. “Our government’s investment in CAE will help maintain Canada’s global leadership in a sector critical to our economy.”
CAE will be responsible to repay $140 million of the government’s contribution, which was made through the Strategic Innovation Fund, which supports programs and projects that position Canada as a global innovation leader.
The Canadian aerospace industry contributes nearly $12.6 billion to the country’s GDP.