Business
June 22, 2010
The following statement was given today in the House of Assembly by
the Honourable Ross Wiseman, Minister of Business:
Business Opportunities Being Explored Through
Industrial Benefits Agreement
I rise today to inform Honourable Members of the progress
we are making to execute on the significant industrial benefits
agreement that our government negotiated as part of the acquisition of
four new water bombers from Bombardier Aerospace announced last October.
The agreement with Bombardier maximizes the return to the province
from the water bomber procurement. It sets out commitments for
industrial benefits worth $30 million and generating a minimum target of
200,000 person hours of direct employment in Newfoundland and
Labrador. These benefits will be realized
through the awarding of direct contracts to Newfoundland and Labrador
firms to supply services or products to Bombardier and its partners, and
through the company supporting initiatives, such as targeted education
and training, which build capacity in our province's aerospace and
defence industry.
Our businesses are already tapping into Bombardier supply
opportunities. Provincial Aerospace, for example, is modifying aircraft
on behalf of Bombardier for a key international customer.
I am pleased to report that we are building on what has been achieved
to date and advancing other initiatives under the agreement.
The next of these activities is happening on June 24, when
Bombardier, in partnership with the Department of Business, will host a
supplier forum in St. John's. This will be a unique opportunity for a
number of Newfoundland and Labrador companies to gain direct information
on how they might access contracts and add value to Bombardier's
extensive supply network.
The companies attending will receive an overview of Bombardier's
supply chain and procurement requirements, as well as a profile of
activity and opportunities in Newfoundland and Labrador's vibrant
aerospace and defence sector. In addition, Bombardier will hold several
one-on-one meetings with local firms to explore potential business
partnerships more in-depth.
This will allow Bombardier to scope
the capabilities of Newfoundland and Labrador's supplier community,
