The Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency), and PEI Innovation and Advanced Learning Minister Allen Roach were in Charlottetown today to announce a combined investment of $2.93 million for 3 Points Aviation to allow the company to expand its hydraulics repair program.

This expansion will allow 3 Points Aviation to increase its current capacity to design additional parts and repairs for Transport Canada approval, and increase its repair and manufacturing capability on hydraulics for airplane landing gear.

Quick Facts:

• The Government of Canada, through ACOA’s Business Development Program, has invested a total of $545,000 in two separate projects for 3 Points Aviation to expand its facility, purchase new innovative equipment and hire an individual to further its research and development.

• The Government of Prince Edward Island, through the Department of Innovation and Advanced Learning, is investing up to $2.39 million – $1.9 million in the form of a loan from the Prince Edward Island Century 2000 Fund, and up to $486,000 in labour rebates from Innovation PEI as the company creates 50 jobs over the next three years.

• This expansion will allow 3 Points Aviation to increase production efficiencies and offer a more affordable product to airline companies.

• The aerospace industry in Prince Edward Island is one of the fastest growing and leading economic industry sectors in the province.

Quotes:

“In aerospace and all business endeavours, innovation and productivity are key components to competitiveness. Our Government is committed to helping create the conditions for businesses to grow, compete and succeed. I am pleased to announce our support for 3 Points Aviation, a company that continues to play an important role in Atlantic Canada’s long-term prosperity.”

- The Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency)

“By expanding its Charlottetown operation, 3 Points Aviation is creating employment, adding to our economic growth and contributing to the success of Prince Edward Island’s aerospace industry. In just a few years, 3 Points Aviation has become an important contributor to our economy, and the government of Prince Edward Island is happy to support them in this step.”

- The Honourable Allen Roach, PEI Minister of Innovation and Advanced Learning

“3 Points Aviation is excited about the opportunities which will arise from this cooperation between the Province, the Government of Canada and our company; we look forward to developing our technical and engineering services.”

- Mr. John Druken, President, 3 Points Aviation

Associated Links:

• 3 Points Aviation

• Aerospace PEI