The Williams Government announced in Budget 2009 a new program to support the development of Newfoundland and Labrador�s aerospace and defence industry. I rise today to highlight this program for the benefit of members of this Honourable House, as well as the province�s business community.

With an investment of $5 million over two years, the new Aerospace and Defence Development Fund will facilitate the growth of the industry in this province by supporting opportunities that will enhance sector capabilities, build capacity, attract investment and industrial benefits, and bring new expertise and business activity to Newfoundland and Labrador.

There is a growing network of knowledge-intensive companies and organizations in our province that are active in a range of unique, advanced aerospace and defence related activities that extend to global markets. They are engaged in research and development, and a variety of products, services and activities, including manufacturing and assembly of aircraft components; maintenance, repair and overhaul; navigation and communications systems; aircraft modification; oceans-related defence technology; and flight training.

Complementing this expertise are other attributes that make the province attractive from an aerospace and defence standpoint. These include our strategic location, modern infrastructure including our airports and ports, R&D capabilities, the development of emerging technologies in unmanned vehicle systems, as well as available labour and education and training programs.

The aerospace and defence industry in Newfoundland and Labrador employs well over a thousand people and generates an estimated $150 million in annual corporate sales and service contracts. Our government believes in the industry and its potential for further growth. More funding available to local companies will help leverage additional capital to build capacity and infrastructure, which will in turn position the industry to attract other investment and capitalize on its growth potential.

We will continue to work in close collaboration with sector players and the Aerospace and Defence Industry Association of Newfoundland and Labrador. There is already a very strong foundation on which to build, and I am pleased that government is able to play a role, through the Aerospace and Defence Development Fund, to position the province for future growth and success in this area.

Together, we will actively seek out and support new opportunities that will advance the development of this dynamic industry in Newfoundland and Labrador.