Cape Breton businesses take steps to modernize, expand operations and improve efficiencies
Government of Canada investments support clean, inclusive recovery and long-term economic growth
May 24, 2022 · Glace Bay, Nova Scotia · Atlantic Canada Opportunities Agency (ACOA)
A key part of Canada’s economic recovery is supporting businesses as they adapt, grow, and recover from the COVID-19 pandemic. Small and medium-sized businesses and the organizations that support them represent the backbone of regional economies. They generate good paying jobs and are a source of pride for their communities. To do so, businesses and entrepreneurs need a strong foundation, built on technological innovation, inclusivity, and clean growth to create the workforce of the future.
Federal investments support business growth
Today, Mike Kelloway, Parliamentary Secretary to the Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for Cape Breton – Canso, announced a total investment of $695,000 through the Jobs and Growth Fund (JGF) for five projects in Cape Breton that are expected to create up to seven new jobs and maintain 163. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.
For the full list of projects, please see backgrounder.
Launched in July 2021, the Jobs and Growth Fund (JGF) provides $700 million over three years to Canada’s regional development agencies to support a regional response and stimulate economic recovery following the COVID-19 crisis by investing in projects that will help to create jobs. Through the JGF, the Government of Canada aims to support the transition to a green economy, foster an inclusive recovery, enhance competitiveness, and create jobs in every corner of the country.
“The vitality of our business communities across Atlantic Canada is key to our economic recovery. We’ll continue to invest in our local businesses and the organizations that support them to create good jobs, support inclusive and clean growth opportunities, and build resiliency for years to come.”
- The Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA
“Cape Breton has many assets and among those is an environment that fosters business growth. Companies here are evolving and innovating to reach new markets and generate economic benefits for themselves, their employees and communities. I am proud the Government of Canada is supporting the region and solidifying Cape Breton’s reputation as a great place to do business.”
- Mike Kelloway, Parliamentary Secretary to the Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for Cape Breton – Canso
In Atlantic Canada, ACOA is delivering $70 million of the $700-million national Jobs and Growth Fund (JGF) to eligible businesses, non-profit organizations, community economic development partners, and Indigenous-led organizations and businesses, with projects that:
o support the transition to a green economy
o foster an inclusive recovery
o preserve Canada’s competitiveness and future-proof businesses through digital adoption
o strengthen capacity in sectors critical to Canada’s recovery and growth
For more information on the application process, eligibility criteria and eligible expenses, or to apply for the JGF, reach out to your regional development agency.
Canada’s regional development agencies are continuing to deliver targeted support for economic recovery in the region. Application intake is open through ACOA for the Canada Community Revitalization Fund, Jobs and Growth Fund, Aerospace Regional Recovery Initiative and Tourism Relief Fund.
Office of the Minister of Official Languages and of the
Atlantic Canada Opportunities Agency
Atlantic Canada Opportunities Agency
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