The Atlantic Canada Opportunities Agency, which is responsible for creating opportunities for economic growth and helping businesses become more competitive, innovative, and productive, has delivered more than $314 million dollars in supporting more than $1,000 businesses and organizations since January 2021.
Contributions included nearly $96 million in COVID- focused support through emergency relief initiatives such as the Regional Relief and Recovery Fund, the Canadian Seafood Stabilization Fund, and the Regional Air Transportation Initiative, and $174 million to Atlantic businesses and organizations like automation and digitalization, food and beverage, ocean clean growth, the start-up economy, and the Tourism Relief Fund, which also includes an allotment specifically dedicated to Indigenous tourism initiatives and projects.
In Nova Scotia, ACOC invested a total amount of more than $82 million in 427 projects throughout the province, projecting 1746 jobs and creating 477 new jobs.
This included support for the province’s dynamic Life Sciences sector which included investments in a new bioprocessing hub at the Verschuren Centre in Sydney.
Other investments included The Restaurant Association of Nova Scotia to help support its members as they tried to meet social distancing and other safety measures during the pandemic, and Black Business Initiative, through the Black Entrepreneurship Program’s National Fund, to expand and enhance its program offerings with delivery partners in the other Atlantic Provinces.
The money from the ACOA helped create more than 1,000 jobs in Atlantic Canada and help protect more than 5,000 jobs across the Maritimes.
