Prince Edward Island’s aerospace industry is expanding with the establishment of Action Aero, a new company focused on business and regional aircraft, and helicopter engine accessory repair and overhaul market.
Action Aero, based in Charlottetown, Prince Edward Island, will soon begin operations. The company will complete engine accessory repair and overhaul for leading aerospace companies. Action Aero is in the process of hiring employees and expects to create up to 25 jobs within two years.
“Aerospace is a growing sector for the Prince Edward Island economy as it continues to offer significant employment opportunities,” said the Honourable Richard Brown, PEI’s Minister of Innovation and Advanced Learning. “I am pleased to welcome Action Aero to the business community. This new company moves Prince Edward Island closer to its goal of more than 1,200 jobs in aerospace by 2010.”
“The Government of Canada continues to make key investments in the growing aerospace industry and these investments are critical to the economic future and competitiveness of Atlantic Canada,” said the Honourable Peter MacKay, Minister of National Defence and Minister of the Atlantic Canada Opportunities Agency. “The establishment of Action Aero is further evidence of PEI’s strengthening position as a leader in this growing sector.”
The president and general manager of Action Aero, David Trainor, has extensive managerial experience involving more than 16 years of progressive leadership roles with a major multinational aerospace company.
“We are excited to be opening a new aerospace company in the Charlottetown market,” said Mr. Trainor. “By establishing operations in Charlottetown, we will be able to tap into the highly skilled labour force in central and eastern Prince Edward Island. The skilled labour force will contribute to the success of Action Aero in this exciting growth industry.”
The company is eligible to apply for existing tax credit programs through PEI Business Development Inc., and the Province of Prince Edward Island is providing a secured loan of up to $350,000 to support the project. The Atlantic Canada Opportunities Agency is also contributing a loan of up to $175,500 through its Business Development Program to further develop the aerospace industry in Prince Edward Island.
Action Aero joins some of the top names in the aerospace industry in Prince Edward Island. Honeywell, Atlantic Turbines Inc., MDS PRAD Technologies Corp., Tronos Canada Inc., Testori Americas Corp., Wiebel Aerospace and Tube-Fab Limited also call Prince Edward Island home.
Aerospace is rapidly growing to become one of Prince Edward Island’s largest industries providing a diverse range of equipment repair, electronics, interiors, and engineering services to clients around the world. The industry employs approximately 850 skilled workers and accounts for 25% of international exports for the province. PEI aerospace companies have annual sales of approximately $287 million.