CDI Corporation

Canadian government, private sector team up for major Montreal tech investment

Canadian Prime Minister Justin Trudeau has made no secret of his aims to turn the nation he leads into a new age as a tech superpower. As such, the recent announcement of an investment and job-creation collaboration between Trudeau’s federal government, the provincial authorities of Quebec and the Canadian Aviation Electronics company (now largely known as CAE) should come as little surprise to those keeping track of the union between Canada’s chief executive and its tech firms.

According to CBC News, the three primary investors – Trudeau and all he represents, Quebec’s provincial government under Premier Philippe Couillard and CAE President and CEO Marc Parent – pledged to invest approximately $1 billion over the course of the next five years. The prime minister noted that the funds would go toward “creating new specialized employment in Canada.”

CAE stated that its main goal was improving training procedures for defence and security contractors, pilots, aviation crews and various healthcare professionals. If successful, the initiative could create up to 335 jobs.

Altogether, the federal and provincial authorities have pledged $197.5 billion to this cause, with CAE covering the remainder of the total $1 billion sum.

The timing of this joint initiative can be viewed as particularly apt, given Canada’s burgeoning reputation as a hotbed of tech development. Evidence of this ranges from the surfeit of newly formed startups to the continuing influx of international tech workers ending up within Canadian borders. Not only that, but HuffPost Canada reported that a considerable number of U.S. residents were applying for Canadian work visas so they could be a part of the fast-growing tech revolution in many major Canadian cities.