Question Period Note: RESPONSIVE MESSAGES

How is the Government creating opportunities for economic growth in Atlantic Canada?

• The Government of Canada has a real plan to move the Atlantic Canadian economy forward and help entrepreneurs succeed, grow and create good paying jobs.
• Our government is committed to making it easier and more affordable for businesses to grow and help local communities become more sustainable, modern and innovative.
• We are building on the work of ACOA to accelerate the growth of Atlantic Canada’s economy, create well-paying middle class jobs, strengthen local communities and grow innovative companies in the region.
• Since 2015, ACOA has helped approximately 1,500 businesses, creating or maintaining nearly 8,000 jobs in Atlantic Canada.
• In that same time frame, ACOA has helped more than 500 communities get projects off the ground.
• For every dollar invested by ACOA, other funders contributed $1.44.

ACOA uses a targeted, integrated approach to deliver programs to help businesses become more competitive, innovative and productive, and to help communities develop and diversify local economies.

ACOA has 28 service points throughout Atlantic Canada with dedicated staff to support the Government of Canada’s economic priorities. The Agency has flexible tools and programs to provide repayable contributions to businesses, non-repayable contributions to community and support organizations, and advocates for the strengths of the region.

ACOA’s current areas of focus include advanced manufacturing, clean growth, ocean, food, immigration, tourism, indigenous economic development, startup ecosystems, national programs and program simplification.

Specifically, Budget 2019:
• provides $6 million over two years, starting in 2019-2020, to support Atlantic Canadian businesses and organizations seeking to create and expand tourism-related infrastructure through the creation of a Canadian Experiences Fund.
• creates a $45 million five year fund, starting in 2020-2021, to support priority projects and economic diversification in communities making a gradual transition from coal-fired power. These additional resources will strongly complement ACOA’s current focus with Budget 2018 resources ($10 million) to support skills development and economic diversification activities aimed at helping workers and communities in Nova Scotia and New Brunswick adapt in the transition to a low-carbon economy.
• confirms that for 2019-20 the Agency will have access to collections from repayable contributions collected in 2018-2019, estimated at $24.9 million. This will mean continued support to regional economic innovation.