Boeing will invest $240 million in Quebec aerospace development centres, the company announced during a recent international aviation conference in Montreal.

The investment has broad commercial real estate implications. The projects lie within the new $415-million Espace Aéro Innovation Zone (Aerospace Innovation Zone), an aviation hub that includes the Montreal borough of Saint-Laurent and the Montreal suburbs of Longueil, Que., and Mirabel, Que.

The aircraft manufacturer will invest $110 million in a new development centre in the Montreal borough of Saint-Laurent, Que.

As part of the $240-million commitment, Boeing will also invest in its subsidiary Wisk Aero’s Montreal-based engineering centre that is focused on the development an autonomous electric four-passenger eVTOL air taxi as part of a $95-million investment in two technology developments, the company said in a news release. Arlington, Va.-based Boeing has also committed to invest $35 million in advanced-landing gear research with Héroux-Devtek at Espace Aéro.

Boeing is making the investments as part of a 10-year industrial and technological benefits commitment with the federal government. The company agreed to invest $5.4 billion in Quebec aerospace initiatives as part of the federal government’s purchase of P-8A Poseidon surveillance planes from the company. Ottawa has committed to purchase 14 P8-A Poseidons and holds options for another two purchases.

Boeing’s investments comprise a large portion of $415 million in private and provincial investment in the new aerospace innovation zone, the Canadian Press reported. The provincial investment is $85 million, according to CP. More than a dozen companies have invested $330 million in the hub.

The Quebec government announced that it will take an equity ownership position in H55, which is developing electric airplane batteries at a plant in Longueil, Que.

Photo: CNW Group/Aéro Montreal