Ottawa to invest 300million into Pratt Whitney jet engine research

MISSISSAUGA, Ont. — Ottawa has announced a $300-million investment in Pratt and Whitney Canada to help the company develop and build the next generation of jet engines.The government says the money will help support nearly 1,500 jobs over the next five years.Pratt & Whitney Canada, a unit of United Technologies Corp, said it will invest more than $1-billion over 4.5 years in research and development spending, which includes the $300-million from Ottawa.Industry Minister James Moore and Infrastructure Minister Denis Lebel made the announcement at company facilities in Mississauga, Ont., and Longueuil, Que., where much of the work will be done.The contribution by the government is a $300-million repayable contribution through its Strategic Aerospace and Defence Initiative.Pratt and Whitney Canada employs 6,000 in Canada.The company is building the new geared turbo fan engines that are being used on Bombardier’s CSeries aircraft which is undergoing flight tests.The Canadian Press, with a file from ReutersCanada’s R&D subsidies are too rich, require review: University of Calgary studyOntario considering new tax incentives to spur R&D investment, improve productivity read more