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BRIEFING Atlantic Canada Opportunities Agency

October 22, 2021

Table of contents

SECTION 1 Who We Are

ACOA AT A GLANCE

Fueling economic growth in Atlantic Canada

TWO CORE FUNCTIONS

Delivering programs and advocating for Atlantic Canada

ACOA’s mandate is twofold:

ORGANIZATIONAL STRUCTURE

Organizational chart for Atlantic Canada Opportunities Agency

WORKFORCE – CRITICAL FOR THE REGION

Helping to address labour shortages

Labour shortages is Atlantic Canada’s most pressing challenge, and it is a major issue for skilled and unskilled positions.

AREAS OF FOCUS

Working strategically, guided by focused actions

Key areas of focus include:

To guide its investments, ACOA applies the following lenses:

PARTNERSHIPS

Bringing together partners to drive economic growth

ECONOMIC CONTEXT

Pre-COVID-19 economic snapshot: strengths and challenges

COVID-19 impacts and a two-speed recovery

CURRENT CORE PROGRAMS

Providing strategic, agile support through repayable, provisionally repayable and non-repayable contributions

Atlantic Innovation Fund (AIF)

Business Development Program (BDP)

Regional Economic Growth through Innovation (REGI) (common to all regional development agencies)

Innovative Communities Fund (ICF)

Community Futures Program (CFP)

CURRENT TEMPORARY PROGRAMS

Delivering short-term initiatives

ALL INITIATIVES COMMON TO ALL REGIONAL DEVELOPMENT AGENCIES (except Canada Coal Transition Initiative)

Recent COVID-19 economic recovery funding initiatives

Canada Community Revitalization Fund

Tourism Relief Fund

Aerospace Regional Recovery Initiative

Jobs and Growth Fund

Other funding initiatives

Women Ecosystem Fund

National Ecosystem Fund / Black Entrepreneurship Program

Canada Coal Transition Initiative (common to ACOA and Prairies Economic Development Canada)

PROGRAM SPENDING

Providing grants and contributions as a catalyst for growth
Actual Expenditures Planned Expenditures
2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024
Operations & Maintenance $73M $77M $79M $85M $80M $77M
Grants & Contributions $276M $275M $496M $377M $378M $263M
Total $349M $352M $575M $462M $458M $340M

Over the past decade (2011-2012 to 2020-2021)…

In 2021-2022: Out of $462M, $166M are temporary allocations.

It is expected that there will be a 47% decrease in grants and contributions spending by 2023-2024, compared to 2020-2021.

RESULTS

Impacting the region’s economy

Sales and labour productivity (2013 to 2018)

Business exports, growth and R&D (2013 to 2018)

Business survival rate of ACOA-assisted firms versus non-assisted firms

The business survival rate for ACOA-assisted start-ups is 69% vs. 33% for unassisted firms after the crucial fifth year following start-up.

WELL POSITIONED TO DELIVER

Helping the government deliver on economic development initiatives

ACOA can support the Government of Canada shape policies and programs that can help drive growth in Atlantic Canada.

Rural Economic Development

Blue Economy

Automation and Digitization

Immigration

SECTION 2 Possible Early Actions and Engagement Opportunities

POSSIBLE EARLY ACTION: Processing project applications

OUTREACH: Engaging with provinces and stakeholders

Key announcement opportunity

Regional Events