2018-19 Departmental Results Report
Results at a glance

Total actual spending
for 2018-19
Total actual full-time equivalents
for 2018-19
$349,597,552 572

 

In 2018-19, the Atlantic Canada Opportunities Agency (ACOA) invested in strategic projects across Atlantic Canada and continued work to advance the Innovation and Skills Plan, a whole-of-government, multi-year approach designed to establish Canada as one of the world’s most innovative countries and to foster a culture of innovation from coast to coast to coast, as well as the Atlantic Growth Strategy designed to drive economic development in the region by delivering concrete and measurable results in priority areas.

In collaboration with other regional development agencies and Innovation, Science and Economic Development Canada, ACOA implemented the Regional Economic Growth through Innovation (REGI) Program, a nationally coordinated, regionally tailored program designed to foster an entrepreneurial environment conducive to innovation, growth and competitiveness. This program focuses on business scale-up and productivity; and creating, growing and nurturing inclusive regional innovation ecosystems.

The Agency also launched various national initiatives announced in Budget 2018, including the Women Entrepreneurship Strategy (WES) and its two components: the WES Ecosystem Fund, to strengthen capacity and close gaps in service for women entrepreneurs, and the Women Entrepreneurship Fund (WEF), to help women-owned and women-led businesses grow and reach export markets. ACOA further launched two other initiatives: the Steel and Aluminum Initiative for small and medium-sized enterprises (SMEs) operating within the Canadian steel and aluminum supply chain, to support projects that enhance productivity, increase competitiveness and create more highly skilled jobs through the adoption of new and innovative technologies; and the Canada Coal Transition Initiative with Western Economic Diversification Canada, to help workers and communities in Nova Scotia and New Brunswick affected by the future closure of coal-fired electricity plants transition to a low-carbon economy.

ACOA’s client-centric approach not only served its clients but also connected them with other federal programs and services. A recent evaluation found that “ACOA offers unique supports to address regional economic challenges, such as a declining workforce… and skills gaps. The programming achieves key expected outcomes… ACOA is a valued and trusted partner in economic development in Atlantic Canada.”

In 2018-19, the Agency focused on key priorities such as advanced manufacturing, clean growth, food, tourism, skills, Indigenous economic development, oceans, innovation ecosystems and immigration. Activities included the following:

Technologies – ACOA invested close to $81 million in 186 projects to support the development, commercialization and adoption of innovative technologies. As part of these efforts, the Agency fostered partnerships and collaborations between the private sector and research and business support organizations; and it provided $5.8 million to 14 business accelerators and incubators in the region to address gaps in support of start-ups.

Businesses – ACOA helped grow globally competitive businesses by investing more than $128 million in 764 projects to support the development of products and services, the adoption and adaptation of advanced technology, and the acquisition of skills and market knowledge. It supported company-oriented growth plans under the Accelerated Growth Service, worked with federal and provincial partners to implement the multi-year Atlantic Trade and Investment Growth Strategy, and helped businesses and tourism operators expand through the Atlantic Canada Tourism Agreement.

Communities – ACOA fostered inclusive growth by investing over $70 million in 399 projects to develop and diversify communities. The Agency helped attract and retain global talent, supported strategic investment to help communities adapt to changing economic circumstances, and engaged with governments, businesses and community stakeholders to foster economic growth in Indigenous communities.

For more information on ACOA’s plans, priorities and results achieved, see the “Results: what we achieved” section of this report.

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