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The Honourable Michael F. Currie, Minister of the Department of Development and Technology, announced today that the Province is launching a scholarship and bursary program to assist students entering Holland ¼â½ÐÊÓƵ's aerospace training programs.

Over the last nine years, Prince Edward Island's aerospace industry has grown to become the province's third largest export product with over $100 million in sales in 1999/2000. According to Minister Currie, the aerospace industry offers exceptional career opportunities for Islanders and the province wants more students to consider a career in aerospace.

"The major constraint of growth within the aerospace industry on PEI is not having enough qualified personnel to fill the positions. Although the industry has experienced such tremendous growth over the past several years, relatively few Islanders consider it as a career choice," said Minister Currie. "Through our commitment to the aerospace scholarship and bursary program, the province hopes to encourage Islanders to consider the opportunities that exist in the aerospace industry. This will not only help the industry grow, but, more importantly, will create excellent employment opportunities here on PEI."

The Province is matching the combined commitment of $100,000 made by private businesses within the aerospace sector and will provide $20,000 in scholarships and bursaries each year for the next five years. The prizes will be awarded by Holland ¼â½ÐÊÓƵ based upon the school?s eligibility criteria.

Albert Fogarty is Chair of the Holland ¼â½ÐÊÓƵ Foundation and understands the importance of scholarship programs in helping students reach their career goals.

"Students completing our aerospace programs have an impressive record of employment success with many of them receiving job offers prior to graduation.? said Mr. Fogarty. ?Despite these prospects, however, students considering this career option face a significant challenge in meeting the costs of the course. The establishment of this scholarship program, by the Provincial Government and those companies within the aerospace industry, will make the difference for many future students who otherwise would not be able to afford the program."

This scholarship program may assist some students who were originally deterred by the tuition fees which can be relatively high for aerospace programs. The high price of training is due in part to the expense of the training equipment, facilities and certified instructors required for the programs. However, graduates of aerospace programs earn entry-level salaries that are significantly higher than the Provincial average.

PEI has grown to be a key player in the global aerospace industry partly because of the leading companies which have located here and it is evident that the growth will continue in the future. For example, when Atlantic Turbines International (ATI) opened in Slemon Park in December 1992, the company hoped to create 40 jobs. Now, less than a decade later, ATI employs 220 people with another 50 positions being created in the near future. Other aerospace companies located on PEI are also anticipating future growth based on the availability of skilled labour.