Funding Available for Nova Scotia Boat Builders

Nova Scotia's boat builders will get a financial boost to support competitiveness in the global market, the province announced today, April 9.

Boat builders will be eligible for $1 million in cost-shared funding over two years for marketing and promotion initiatives for the industry.

The Department of Fisheries and Aquaculture is making the investment, in partnership with the Department of Economic and Rural Development. The investment is from the Community Development Trust Fund, a $34.9-million program established in 2008 by the federal government to help communities and sectors experiencing economic challenges.

"We have a long history and tradition of building custom and semi-custom boats in Nova Scotia," said Fisheries and Aquaculture Minister Ron Chisholm. "Right now, the boat-building sector is facing a number of challenges that are affecting its ability to compete. This program will assist the industry to diversify and capitalize on new opportunities."

"The long-term viability of the boat-building sector is important to our communities and the province's economy," said Murray Scott, Minister of Economic and Rural Development. "Sustainable communities are vital to Nova Scotia's growth and prosperity and the Community Development Trust will support them."

There are more than 45 companies employing 650 people directly in the boat building industry and an estimated 480 more people indirectly. Sales in 2008 are estimated to be $50 million, down from more than $75 million in 2007.

"Boat building is a traditional industry in Nova Scotia and the main employer in many rural, coastal communities," said David Canning on behalf of the Nova Scotia Boat Builders Association. "This funding will help our industry expand sales of pleasure craft and service vessels through marketing initiatives."

The Nova Scotia Boatbuilders Association was formed in 1998 and helps its members diversify into new markets.

The priorities of the Community Development Trust Fund are to enhance sustainable prosperity; diversify economic and trade opportunities; improve productivity, innovation and training; assist communities with transition planning and help workers facing adjustment challenges. More information on the trust fund in Nova Scotia is available at www.gov.ns.ca/econ/cdtrust .

The program is being administered by Department of Fisheries and Aquaculture.