Government, private sector invest $1B in information technology in Montreal

The federal and provincial government along with Canadian tech company CAE have teamed up to invest around a billion dollars over five years into training simulation technology.

Prime Minister Justin Trudeau was on hand to make the announcement in Montreal Wednesday

Prime Minister Justin Trudeau, right, Quebec Premier Philippe Couillard, left, and CAE President and CEO Marc Parent pose during a visit to CAE in Montreal. (Graham Hughes/Canadian Press)

The federal and provincial governments along with Canadian tech company CAE have teamed up to invest about a billion dollars over five years into training and simulation technology.

CAE, formerly known as the Canadian Aviation Electronics company, is trying to "revolutionize the training of pilots, crews and health professionals," it stated in a news release.

The Montreal-based company also plans to invest in training technology for health care workers, defence and security contractors.

The Quebec government will be contributing a $42.5-million loan and a grant of $5 million. The federal government has also committed $150 million to the project and the rest of the funding is coming from CAE.

Prime Minister Justin Trudeau was in Montreal Wednesday to make the announcement.

He said that the funding would go toward "creating new specialized employment in Canada."

The project is expected to create around 335 jobs in Montreal.

With files from The Canadian Press