COTA Aviation, an Indigenous business in Parksville that specializes in precision machining, welding and fabrication for the aerospace sector, will be getting a piece of $61 million that Boeing (NYSE: BA) plans to spend in B.C. as part of the $10 billion P-8A Poseidon contract with the Canadian government.
Boeing’s software division in Â鶹´«Ã½Ó³»will also get a share of the $61 million to be spent in B.C.
The contracts are part of Boeing’s Industrial and Technological Benefits commitment to Canada as part of the P-8A Poseidon contract.
Last year, the Department of National Defence tapped Boeing to produce 16 P-8A Poseidon aircraft for the Royal Canadian Air Force, at a total estimated cost of $10 billion, to replace Canada’s current fleet of maritime patrol aircraft, the CP-140 Aurora.
The P-8A Poseidon will be a multi-role aircraft capable. It will be a patrol and surveillance aircraft with anti-submarine armaments and detection capabilities. Canadian aerospace companies will benefit from the contract.
Boeing points to economic impact analysis by Doyletech Corporation that estimates the contract will create nearly 3,000 jobs and $358 million annually in economic output in Canada.
COTA Aviation will receive $13 million to buy advanced manufacturing equipment and for Indigenous skills training. COTA Aviation is a member of the BC Metis Federation and Canadian Council for Aboriginal Business.
“This investment will equip COTA with advanced manufacturing equipment, enhancing their capability and capacity to produce commercial and military aircraft components,” Boeing Canada said in a news release. “Additionally, funding will enable COTA to establish a dedicated hands-on aerospace manufacturing training facility.”
“We are proud to partner with Boeing to enhance our training and grow our operations that will shape the future of aerospace in British Columbia,” said COTA Aviation president Dorian Cota.
“These strategic partnerships not only strengthen our aerospace industry, they help ensure Canada remains at the forefront of technological advancements, creating high-value career opportunities for generations to come,” said Canada’s Minister of National Defence Bill Blair.
Boeing will also spend $48 million on Boeing Vancouver, which specializes in aerospace software. Boeing will be spending the money on data analytics technologies, which includes analytics for optimizing aircraft maintenance, sustainability and performance.
