ACOA 2020: exceptional support in an exceptional year

ACOA rolled out unprecedented programs, projects to keep Atlantic Canada strong, safeguarding more than 19,000 jobs in a pandemic year

December 22, 2020 · Moncton, New Brunswick · Atlantic Canada Opportunities Agency (ACOA)

The COVID-19 global pandemic created challenges in 2020 unlike any in ACOA’s thirty-three years of working with entrepreneurs and business leaders to strengthen and diversify Atlantic Canada’s economy.

The Agency has been at the forefront of the Government of Canada’s COVID-19 economic response in Atlantic Canada, rolling out emergency relief programs on an unprecedented scale. ACOA also maintained the delivery of its regular suite of programs, building in flexibility and adjusting criteria to meet the changing needs of businesses as they dealt with the effects of the pandemic. As a result of COVID-19 relief measures, the Government of Canada has nearly doubled ACOA’s budget in 2020-21.

Today, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA, highlighted the impact of ACOA’s investments this year, which included a total investment of $397.1 million, supporting over 1,500 projects, creating and maintaining more than 19,000 jobs in Atlantic Canada. These investments are positioning Canada for a strong recovery, while supporting the government’s commitment to create over one million jobs, restoring employment to previous levels.

Addressing the economic impact of COVID-19

When COVID-19 struck, ACOA moved swiftly to help businesses and business support organizations find new ways to operate in a digital environment. With ACOA’s support and guidance, many companies were able to adapt to stay open. By taking their business online, developing new products and service offerings, or implementing new digital marketing tactics, tools and resources, many were able to boost revenues and reach new markets, while keeping employees on the payroll.

The Agency is delivering Atlantic Canada’s portion of the Government of Canada’s $1.5 billion Regional Relief and Recovery Fund (RRRF) and the region’s $42.7 million share of the Department of Fisheries and Oceans’ Canadian Seafood Stabilization Fund (CSSF).

ACOA delivered $174.6 million in COVID-related support for 477 projects located throughout Atlantic Canada, protecting an estimated 13,500 jobs. This is in addition to the more than $231.8 million it invested through its regular programs to support nearly 1,100 projects across a variety of sectors.

Delivering targeted support to key sectors based on local need

In Atlantic Canada, ACOA’s support has been targeted to the areas that need it the most.

In New Brunswick, ACOA invested in strategic projects in the manufacturing and processing, seafood and aquaculture, and tourism and cultural industries, with a strong focus on advanced manufacturing and digital transformation. Some investments of note include:

• Fredericton-based Tech Impact’s Digital Boost program, which is helping local companies adopt digital technology to improve productivity, resiliency and global competitiveness;
• a project with Destination marketing organization, Discover Saint John, which enabled the organization to stabilize its operations, bring back staff, and launch the #StillAwesome 2020 marketing campaign to promote local businesses and tourism activities.

These are just a few of the 401 projects that received more than $102.2 million in contributions, creating 455 new jobs in the province and protecting an additional 1,859.

In Newfoundland and Labrador, ACOA focused its investments on strategic sectors such as tourism and cultural industries, information and communications technology (ICT), as well as ocean technology, seafood and aquaculture. Some projects of note include:

• support for the Doctor’s House Inn and Spa Ltd. in Green’s Harbour to help alleviate the impacts of COVID-19, saving close to 60 jobs in a rural part of the province;
• an investment with the Genesis Group to establish an ocean start-up program to address gaps in the ecosystem, positioning Atlantic Canada at the forefront of marine clusters by increasing the number and size of ocean-focused startups and scale-ups.

Across all sectors, ACOA invested nearly $64 million in 362 projects throughout Newfoundland and Labrador, directly supporting 8,740 jobs and the creation of 180 jobs.

In Nova Scotia, ACOA helped drive innovation and entrepreneurship by providing support for province-wide initiatives like Spark, which provides early-stage companies with funding and mentorship, and innovation hubs like Ignite Labs and Volta. ACOA investments also helped:

• Hope Blooms create entrepreneurial opportunities for marginalized youth in urban Halifax;
• Cape Breton’s We'Koqma'q First Nation to create new jobs and economic growth.

ACOA employees also worked closely with health organizations in the province to source essential medical and personal protective equipment for health care and industrial use. ACOA helped companies such as Mackenzie Atlantic pivot to produce these products as new business lines. Overall, 544 projects in Nova Scotia received more than $119.1 million, creating 1,182 jobs and protecting an additional 4,231 jobs.

In Prince Edward Island, ACOA investments in the tourism industry helped operators and organizations adapt, retain staff and prepare for recovery. Regional tourism associations and non-government organizations also used the investments to develop new festivals and products for a local market. Investments in the Agri-Food and Advanced Manufacturing sectors helped businesses automate and adapt to market changes to meet immediate needs. Support also went towards growing the Island’s active bioscience community. Some projects of note include:

• the expansion of the chambers of commerce groups’ ‘Love Local, PEI’ initiative, an Island-wide approach to boost the economy and support local entrepreneurs;
• support for the Food Island Partnership to develop a targeted marketing plan to raise awareness of PEI’s world famous mussels and oysters in export markets; and
• the establishment of "Emergence 2.0," a pan-Atlantic bioscience business incubator to develop the Canadian Hub for Bioscience Skills & Training.

Across all sectors, ACOA invested $31.6 million in 190 projects throughout PEI, directly supporting nearly 2,700 jobs, including the creation of 58 new jobs.

The Agency also provided $85.7 million to support 54 pan-Atlantic projects, such as the development of tools and resources to help exporters find new ways to sell their products and services to buyers around the world.

Whether through new measures resulting from the pandemic or through its regular suite of programs, ACOA remains committed to continue its work to support Atlantic Canadian businesses. By making strategic investments, ACOA is helping to stabilize the economy during this period, protect jobs and position the region for a strong recovery and future growth once the pandemic is over.

Please consult ACOA’s website for more information about its programs, including how to apply for financial assistance.