Boat Building Industry Gets Boost from Province

ECONOMIC DEVELOPMENT--Boat Building Industry Gets Boost from Province

Nova Scotia's boat building industry will continue to create new vessels for export, recreation and the fishery through a renewed loan program.

Premier John Hamm today, July 21, announced a five-year extension to the $1.5-million Prototype Boat Credit Facility for members of the Nova Scotia Boatbuilders Association (NSBA). He made the announcement before viewing NSBA-built boats tied up on the LaHave River, including the 18-metre (59-foot) custom-built schooner Niñita, which is completing sea trials before its owners sail home to the United Kingdom.

"The boat building industry is a growing Nova Scotia success story, creating skilled jobs in rural coastal communities and making an important contribution to the province's economy," said Premier Hamm. "Nova Scotia's growth strategy, Opportunities for Prosperity, is focussed on building regional economies within our province, and programs such as this one are helping us reach this goal."

Over the past five years, Nova Scotia's boat building industry has added 500 direct and spinoff jobs to its workforce, increased sales to $80 million and captured new markets, particularly in the United States.

The credit facility program provides loans to NSBA members at a reasonable cost for the design, construction and sea trials of new or improved boats targeted at export markets, recreational boating and coastal fisheries.

"With the support of our government partners, the Boatbuilders Association is working to ensure that the future of boat building in our province remains secure and economically beneficial," said NSBA chair Harland Martell. He said the extension of the loan program supports design and technology innovations that are transforming a traditional industry into an advanced- manufacturing sector.

The province also announced renewed operational funding of $60,000 for the NSBA today. "Our ongoing commitment to the industry supports the boat building community in looking for new markets, developing local skills to meet demand and attracting youth to the advanced-manufacturing trades in boat building," said Economic Development Minister Ernest Fage.

Economic Development will underwrite the credit facility while the Fisheries and Aquaculture Loan Board will provide technical expertise and oversight.

"I am very pleased that we can offer a loan program to ensure that the builders have the funds to create new vessel designs and to export leading edge, innovative vessels," said Agriculture and Fisheries Minister Chris d'Entremont. "Our department's Fisheries and Aquaculture Loan Board is committed to providing the technical support to ensure that the vessel designs meet today's demanding standards. Nova Scotia's boat builders deserve a great deal of credit for increasing export sales and rebuilding the industry."

Fishing boats still account for two-thirds of new boat construction, but growing demand for custom pleasure boats, combined with Nova Scotia's worldwide reputation for building fine sea vessels, has created a unique opportunity for many boat builders.

The Nova Scotia Boatbuilders Association represents 40 boat building companies and 45 associated support industries in the province, providing jobs and playing an important socio-economic role in coastal communities in every region of the province.