Boat Builders in Nova Scotia are eligible for $1 million in cost-shared funding to support the province's competitiveness in the global marine market.
Nova Scotia's Department of Fisheries and Aquaculture is making the investment in partnership with the Department of Economic and Rural Development. The funds are being allocated from the Community Development Trust Fund, a $34.9-million program established in 2008 by the federal government to aid communities and sectors experiencing economic challenges.
“Right now, the boat-building sector is facing a number of challenges that are affecting its ability to compete,” said Ron Chisholm, Fisheries and Aquaculture Minister. “This program will assist the industry in diversifying and capitalizing on new opportunities.”
According to Murray Scott, Minister of Economic and Rural Development, the long-term viability of the boat-building sector is essential to Nova Scotia's communities and economy.
“Sustainable communities are vital to Nova Scotia's growth and prosperity, and the Community Development Trust Fund will support them.”
Currently, there are 45 companies involved in boat building in Nova Scotia, employing 650 people directly and an estimated 480 indirectly.