Toronto, May 10, 2023 – World Trade Centre Toronto (WTC-T), the trade services and scale-up arm of the Toronto Region Board of Trade, is pleased to announce that it has received funding of over $1.7 million from the Government of Canada’s Aerospace Regional Recovery Initiative through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
This significant investment will enable WTC-T to offer its award-winning Trade Accelerator Program (TAP), Growth Development Program (GDP), and Executive Certificates to small- and medium-sized enterprises (SMEs) in the aerospace sector. This will boost the implementation of sustainable operations in southern Ontario's aerospace industry.
This investment is expected to create 217 indirect jobs and contribute to the growth of the Canadian economy.
Giles Gherson, Executive, Vice President and Chair of the Economic Blueprint Institute at the Toronto Region Board of Trade, welcomed the investment as a vote of confidence for this important sector.
"The Canadian aerospace industry is a significant national economic driver and is projected to grow substantially over the next decade,” said Gherson. “The Government of Canada's support for this critical initiative will help strengthen Canada's scale-up ecosystem, diversify our domestic supply chain, and strengthen Canada's domestic aerospace supplier base in a fiercely competitive, increasingly technology-driven sector. We are excited to help ambitious SMEs innovate and build sustainable growth strategies, both within and outside Canada."
"Ontario-made parts are found in almost every passenger plane in the world, and it is the workers who will continue to take this industry to new heights,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “That's why our government is investing directly in the organizations, businesses, and people who will drive innovation across the sector, and ensure workers have the skills needed to continue growing a strong, sustainable economy that works for everyone."
With the support of the funding, up to 145 SMEs in the aerospace industry will have the opportunity to benefit from WTC-T's comprehensive programs, which are tailored to help SMEs pursue new export opportunities, embrace digitization and enhance their operations to be more sustainable.
These businesses will have access to workshops and mentoring sessions that are specifically designed to identify growth challenges in various trade areas, including sales, ESG, international expansion, workforce management operations, and financial optimization. The in-depth programs will also cover industry 4.0 solutions, such as industrial IoT and smart manufacturing.
To learn more about WTC-T initiatives, including how to sign up for our programs, visit bot.com/Programs-Networks.
About the World Trade Centre Toronto
The World Trade Centre Toronto (WTC-T) is the trade services and scale-up arm of Toronto Region Board of Trade (TRBOT). As an award-winning member of the World Trade Centers Association, WTC-T creates unparalleled global access for the Toronto region’s business community with its connection to 326 branded properties and trade services associations in 92 countries and 321 cities. WTC-T provides targeted international trade advisory services and expertise through comprehensive research, trade education, strategy building workshops, trade missions and valuable connections to experts and business networks.
Manager, Communications and Public Affairs, WTC-T
Toronto Region Board of Trade
416 862 5200
About FedDev Ontario
For 13 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario