ACOA's 2025-26 Departmental Plan: At a glance

• Planned spending: $333,256,478
• Planned human resources: 379
• Departmental results:
  • Businesses are innovative and growing in Atlantic Canada
  • Businesses invest in the development and commercialization of innovative technologies in Atlantic Canada
  • Communities are economically diversified in Atlantic Canada

In 2025-26, ACOA will bolster the momentum of Atlantic Canada to promote long-term economic growth in the region. The Agency will provide regionally tailored, client-centric and place-based assistance to ecosystems, to SMEs, which accounted for 99.8% of all Atlantic businesses in June 2023,^{Footnote 1} and to communities in urban and rural areas, the latter of which have accounted for approximately half of ACOA’s projects and expenditures in recent years.^{Footnote 2}

Atlantic Canada is expected to outperform the national economy in a variety of economic measures in 2025-26.^{Footnote 3} The Government of Canada is committed to growing the economy to be more innovative and productive, where every SME has the tools it needs to grow. ACOA’s efforts will support the government’s economic plan by investing in the technologies critical to increasing productivity, fostering innovation, and attracting more private investment to Atlantic Canada. While strong economic headwinds are present, especially the uncertain impacts of the of potential U.S. trade actions on Atlantic Canada’s economy, there continues to be economic momentum in Atlantic Canada and ACOA will work with other government departments to improve access to financing and leverage economic opportunities in the region.

ACOA’s overarching strategic priority will be enhancing productivity and growth. The Agency will emphasize efforts aimed at closing the productivity gap of the region. This will be done by focusing on 3 areas:

1. Growing strategic sectors: ACOA will promote place-based economic diversification and market expansion by propelling key sectors such as biosciences, cybersecurity, clean technologies, and aerospace and defence.
2. Technology adoption: The Agency will help SMEs increase the adoption of automation and advanced digital technologies, including artificial intelligence, to optimize their value, create efficiencies and reduce waste.
3. Workforce development: ACOA will work with businesses to ensure that key industries have the skilled workers needed to enhance their productivity, and help communities attract and develop the talent required to foster economic growth.

This focus on productivity, competitiveness and diversification, combined with ACOA’s flexible programming and close relationship with its business clients, will allow the Agency to help Atlantic Canadian SMEs, sectors and communities navigate economic insecurity, mitigate the impacts of trade disruptions with the U.S., and ensure future growth and competitiveness in the region.

Sustainability will continue to be an important guiding principle for the Agency as it explores new growth opportunities and positions industries for success as they transition to a cleaner economy. In October 2024, the Agency tabled its 2023–2027 Departmental Sustainable Development Strategy – 2023-24 Report, which outlines its contributions to Canada’s sustainable development goals, notably on meaningful work and economic growth. The Agency’s activities will help Atlantic Canada’s economy to diversify and transition to a low-carbon future by accelerating the decarbonization of firms and supply chains, advancing the development of clean technologies for domestic and international markets, and supporting Atlantic Canada’s immense opportunities in clean energy. ACOA will also build on the success of its investments in recent years by implementing a new Clean Growth Initiative that will provide targeted support to promote sustainability among Atlantic Canadian SMEs by assisting them in adopting clean technologies and sustainable practices.

These efforts, along with ACOA’s regular programming, will help support strong and resilient urban and rural communities as an integral part of the Canadian economy. Each of these efforts will also be informed by advocacy and collaboration with other federal agencies and departments, and by working with the network of regional development agencies across Canada, the 4 provincial governments in Atlantic Canada, including through the Atlantic Growth Strategy, as well as municipalities, Indigenous partners, non-profit organizations, industry associations and other stakeholders such as Community Business Development Corporations.

Assistance will continue to respond to regional needs and be delivered through flexible core programs such as the Regional Economic Growth through Innovation program. Targeted initiatives such as the Regional Homebuilding Innovation Initiative, Regional Artificial Intelligence Initiative and Elevate Tourism Initiative will help boost investment in private-sector businesses to elevate their products and services and attract even more investment to the Atlantic region. The Agency will also remain resolute in its promotion of the Atlantic region across the Government of Canada’s activities, including efforts to competitively position Atlantic Canadian firms for defence and Canadian Coast Guard procurement through Canada’s Industrial and Technological Benefits Policy.

These priorities will directly contribute to the Government of Canada’s plan of building an economy that works for all Canadians with affordable energy, good jobs, a growing clean economy, and stronger and more inclusive communities.

More information about Core responsibility 1: Economic development in Atlantic Canada can be found in the full plan.