Boeing [NYSE:BA] contributes more than US$3 billion annually to Canada’s economic growth and development, according to a study commissioned by the company.
Through its operations in Winnipeg and elsewhere, along with direct and indirect economic effects, Boeing supports more than 17,000 jobs across Canada according to the study done by Doyletech Corporation. The analysis also 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, and that 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.
“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.”
Doyletech, a Canadian strategic management consultancy, examined Boeing’s contribution to the Canadian economy through three different areas: 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. “Doyletech's study demonstrates 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.
Source: The Boeing Company (NYSE: BA)
Date: Oct 13, 2016