3 Points Machining and Aerospace completes new facility in Charlottetown

3 Points Machining and Aerospace has established a new aerospace manufacturing and repair facility in Charlottetown. This new facility will result in faster turn-around times on aircraft parts and lower the repair costs of high-quality products. The provincial government indicates that the opening of this facility will help to create as many as 22 jobs in Prince Edward Island in one of the fastest growing and strongest industries in the Atlantic region. The Government of Canada, through ACOA, invested $500,000 towards the purchase of necessary equipment at the new facility. The Government of Prince Edward Island supported this project through the Department of Innovation and Advanced Learning with a $1.9 million secured, repayable loan. The company was also eligible to apply for the Innovation and Development Labour Rebate Program with support up to $531,000 based on job creation.