For the third time in eight years, one of Canada’s largest aerospace engineering firms is benefitting from taxpayer dollars even though it has been reducing its Canadian workforce.

On Monday, the federal government announced a $300-million repayable investment in Pratt and Whitney Canada to develop new aircraft engines. Ottawa said the investment will help support nearly 1,500 jobs over the next five years.

The federal government has made three major investments in Quebec-based Pratt and Whitney Canada since 2006. But since the first major pledge was made, the company has reduced its Canadian workforce by about 1,000 employees.

In 2006, Ottawa pledged $350 million for research and development at Pratt and Whitney. At the time, the company had more than 7,000 Canadian employees.

An almost identical investment of $300 million was made again in 2010. A press release issued at the time stated the company employed 6,200 people in Canada -- 800 fewer employees since the previous announcement.

When the latest $300-million investment was announced on Monday, the company said in a news release that it now employs just over 6,000 Canadians.

Asked why Ottawa has repeatedly given taxpayer dollars to a company that has cut its workforce over the years, a spokesperson for Industry Minister James Moore reiterated that it’s a repayable loan meant to help the firm remain “globally competitive.”

The Canadian Taxpayers Federation says Canadians need to know the value of Ottawa’s investment.

“The question we're asking is: show us exactly what we've got for this money, you know we've invested a considerable amount in Pratt and Whitney, what are Canadian taxpayers getting in terms of bang for their buck?” said Aaron Wudrick, the group’s federal director.

Pratt and Whitney will be building engines for F-35 fighter jets, among other aircraft, and industry leaders say government investments are necessary.

“It's very important to us to continue to provide that positive investment climate, so that multi-national companies, that frankly have a choice, are going to decide that Canada is the place that they want to continue to develop,” said Iain Christie, the executive vice-president of Aerospace Industries Association of Canada.

Ottawa’s contribution to Pratt and Whitney comes through the Strategic Aerospace and Defence Initiative, which is meant to help provide loans to support research and development in the aerospace and defence sectors.

With a report from CTV’s Katie Simpson and files from The Canadian Press