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Atlantic Canada Opportunities Agency 2024-25 Departmental plan

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© His Majesty the King in Right of Canada, as represented by the Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency, 2024

Cat. No. AC2-8E-PDF

ISSN 2371-719X

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From the Minister

Headshot of Gudie Hutchings

The Honourable Gudie Hutchings

Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency

I am pleased to present the 2024-25 Departmental Plan for the Atlantic Canada Opportunities Agency (ACOA), a plan about making Atlantic Canada even better, focusing on growing the economy, protecting the environment, accessing more affordable energy, and building communities where everyone feels welcome.

At ACOA, we are investing in things that are good for the planet and the Atlantic economy. That means creating good jobs, making energy more affordable, and building stronger, inclusive communities. We are on a mission to shape a future-ready workforce for everyone, with a special focus on encouraging projects led by women, Indigenous people, people of colour, those living with disabilities and young people. Plus, we are giving small and medium-sized businesses a helping hand to increase productivity and digitalization adoption.

The wind is in our sails in Atlantic Canada. From population to immigration to productivity and quality of life, our region is proving it is a national leader. Our region boasts tremendous untapped potential with its natural resources, agriculture and tourism sectors, and ACOA will work to ensure that they grow and thrive for the future.

We are making sure these sectors of the Atlantic economy are in it for the long term. Fighting climate change is also key to our region’s success, teaming up with businesses and communities – whether they are in bustling cities or peaceful countryside – to help them seize opportunities in the net-zero economy and reduce carbon emissions while growing. This is all part of our plan.

I look forward to championing the Atlantic Growth Strategy and working with the four Atlantic provincial governments as we enhance the region’s economy. Together, we are committed to supporting cutting-edge research and development, investing in companies that turn green ideas into clean products, and advocating for policies that speed innovation from concept to market. With a focus on cultivating partnerships and by doubling down on advocacy efforts, ACOA will work with other federal departments to ensure the regulatory framework keeps pace with economic growth efforts.

Please read the pages that follow for greater detail on ACOA’s plans to further Atlantic Canada’s momentum by building on the region’s solid foundation of natural resources and increasing the vitality and prosperity of the region’s communities.

My friends, the wind is truly in our sails.

Plans to deliver on core responsibilities and internal services

Core responsibilities and internal services

Economic Development in Atlantic Canada

Description

Support Atlantic Canada’s economic growth, wealth creation and economic prosperity through inclusive clean growth and by building on competitive regional strengths. Help small and medium-sized enterprise (SME) growth through direct financial assistance and indirectly through business support organizations. SMEs become more innovative by adopting new technologies and processes and by pursuing new avenues for expansion and market diversification to compete and succeed in a global market.

Quality of life impacts

This core responsibility most closely relates to the “Prosperity” domain of the Quality of Life Framework for Canada and the indicators of gross domestic product (GDP) per capita, productivity, investment in in-house research and development, firm growth and employment. This core responsibility will also support the “Environment” domain.

Results and targets

The following tables show, for each departmental result related to Economic Development in Atlantic Canada, the indicators, the results from the three most recently reported fiscal years, the targets and target dates approved in 2024-25.

Table 1: Indicators, results and targets for departmental result

The following table shows, for each departmental result related to Economic Development in Atlantic Canada, the indicators, the results from the three most recently reported fiscal years, the targets and target dates approved in 2024-25.

Businesses are innovative and growing in Atlantic Canada.
Indicator
2020-21 result
2021-22 result
2022-23 result
Target
Date to achieve
Number of high-growth firms in Atlantic Canada
590 (2018)
660 (2019)
590 (2020)
650
Mar. 31, 2025
Value of export of goods ($) from Atlantic Canada
$23.3 billion (2020)
$33.3 billion (2021)
$41.9 billion (2022)
$33 billion
Mar. 31, 2025
Value of exports of clean technologies ($) from Atlantic CanadaFootnote 1
$489 million (2019)
$458 million (2020)
$663 million (2021)
$560 million
Mar. 31, 2025
Revenue growth rate of firms supported by ACOA programsFootnote 2
8.2% (2014 – 2019 excl. 2018)
6.9% (2015 – 2020 excl. 2018)
8.1% (2016 – 2021 excl. 2018)
8%
Mar. 31, 2025
Table 2: Indicators, results and targets for departmental result:

The following table shows, for each departmental result related to Economic Development in Atlantic Canada, the indicators, the results from the three most recently reported fiscal years, the targets and target dates approved in 2024-25.

Businesses invest in the development and commercialization of innovative technologies in Atlantic Canada.
Indicator
2020-21 result
2021-22 result
2022-23 result
Target
Date to achieve
Value of business expenditures in R&D by firms receiving ACOA program funding ($)
$99.6 million (2014 – 2018)
$93.7 million (2015 – 2019)Footnote 3
$104.63 million (2016 – 2020)
$110 million
Mar. 31, 2025
Percentage of businesses engaged in collaborations with higher education institutions in Atlantic Canada
16.9% (2019)
Not available (2021)Footnote 4
Not available (2021)Footnote 5
16%
Mar. 31, 2025
Table 3: Indicators, results and targets for departmental result:

The following table shows, for each departmental result related to Economic Development in Atlantic Canada, the indicators, the results from the three most recently reported fiscal years, the targets and target dates approved in 2024-25.

Communities are economically diversified in Atlantic Canada.
Indicator
2020-21 result
2021-22 result
2022-23 result
Target
Date to achieve
Percentage of Atlantic Canadian
small and medium-sized enterprises (SMEs) that are majority owned by women, Indigenous people, youth,Footnote 6 visible minorities and persons with disabilities
Not available (2017)Footnote 7
16.7% of female ownership,
​​​​​​​0.4% of Indigenous ownership,
9% of youth ownership,
2.9% of visible minority ownership,
1.2% of SMEs majority owned by persons with disabilities
Not availableFootnote 8
17% of female ownership,
​​​​​​​1% of Indigenous ownership,
10% of youth ownership,
4% of visible minority ownership,
1% of SMEs majority owned by persons with disabilities
Mar. 31, 2025
Percentage of professional, science and technology related jobs in Atlantic Canada’s economy
33.7% (2020)
33.7% (2021)
32.9% (2022)
33%
Mar. 31, 2025
Amount leveraged per dollar invested by ACOA in community projects
$0.58 (2020-21)
$1.02 (2021-22)
$1.98 (2022-23)
$1.15
Mar. 31, 2025

The financial, human resources and performance information for the ACOA’s program inventory is available on GC InfoBase.

Plans to achieve results

In 2024-25, ACOA will be the main sponsor of place-based investments in Atlantic Canada to build a stronger and more resilient economy that works for everyone. This will help firms scale up, develop new markets and adopt new technologies and processes to be more productive and sustainable. Activities will also help Indigenous, rural and urban communities advance and diversify their economies in an inclusive way.

Through its promotion of Atlantic issues and suite of programming, ACOA’s investments will help lay the foundation for Atlantic Canadians to seize economic opportunities provided by the global transition to net-zero and to thrive in good-paying jobs. ACOA will help its funding recipients navigate labour shortages, uneven supply of goods and services, and the region’s ability to attract world-class investments. ACOA will also champion strategic priorities and economic opportunities in Atlantic Canada with advocacy and pathfinding in national policies and programs.

The Agency will maximize the potential of its suite of programming, including the Regional Economic Growth through Innovation (REGI) Program, one of the Government of Canada’s four flagship platforms for economic development. It will also enhance competitiveness and growth through technology development, commercialization, adoption and adaptation, productivity improvements, and market expansion. Broad-based support under REGI will be complemented by more targeted recovery measures using initiatives such as:

ACOA’s key priorities and its Minister’s mandate letter commitments are guiding principles in the achievement of its core responsibilities through the three departmental results below:

Departmental result 1: Businesses are innovative and growing in Atlantic Canada.

The Agency will work with SMEs to capitalize on sector strengths and capacities, develop and diversify markets, and scale their businesses by:

  • helping businesses at various stages of development – from start-up to high growth – to adapt and green their operations, accelerate their growth, scale up, enhance their productivity, optimize their supply chains, and be competitive in domestic and global markets. This includes leveraging company-oriented growth plans under the Accelerated Growth Service, led by ACOA in Atlantic Canada and involving other federal and provincial organizations, by building a pipeline of clients with strong potential for growth and providing them with focused sales and export support;
  • accelerating digitization and the use of transformative technologies in Atlantic Canada. This will ensure businesses have the capacity to implement advanced manufacturing solutions to be more innovative, agile and resilient in response to changing market conditions. This includes increasing the use of e-commerce to facilitate business transactions, better meet consumer demand, generate added sales and increase efficiency;
  • enabling and diversifying growth through exports in key industry sectors, ensuring a greater presence for Atlantic Canadian companies in key markets either in person or through e-commerce and virtual trade, and promoting foreign direct investment with the Atlantic Trade and Investment Growth Strategy;
  • delivering the new three-year Tourism Growth Program in Atlantic Canada to support the tourism industry and contributing to the Federal Tourism Growth Strategy that charts a course for long-term growth, investment and stability. ACOA will also collaborate with federal, provincial and industry partners to implement the renewed Atlantic Canada Agreement on Tourism, renewed on October 1, 2023;
  • advocating and partnering to foster the participation of Atlantic Canadian companies in emerging clean technologies such as offshore wind, energy storage and small modular reactors, and supporting Atlantic Canadian companies in traditional energy industries as they transition to a low-carbon future;
  • positioning Atlantic Canadian firms to leverage major Canadian Coast Guard and defence procurement through Canada’s Industrial and Technological Benefits Policy through networking between regional stakeholders and global aerospace and defence firms.

Departmental result 2: Businesses invest in the development and commercialization of innovative technologies in Atlantic Canada.

The Agency will help businesses invest in new technologies to improve their efficiency, productivity, competitiveness and growth, notably by:

  • supporting the greening of the region’s economy through industrial decarbonization with new clean technologies and products. Activities will leverage the region’s significant potential for renewable energy, electrification and energy efficiency while also enhancing their competitiveness in the global marketplace;
  • fostering investments in R&D among Atlantic Canadian firms to enhance their productivity and capacity to innovate to help create industry-advancing solutions for some of the biggest sectoral challenges, and to grow trade through partnerships between innovators;
  • creating, growing and nurturing inclusive regional ecosystems that support business needs and foster an entrepreneurial environment conducive to innovation, growth and competitiveness by convening innovation ecosystem stakeholders. This includes supporting collaboration between SMEs and the region’s business incubators and accelerators, research organizations and post-secondary institutions;
  • helping advance energy innovation, including supporting interprovincial transmission lines to connect surplus clean power to regions transitioning away from coal to help transform how Atlantic Canada’s economy and communities are powered.

Departmental result 3: Communities are economically diversified in Atlantic Canada.

The Agency will invest in inclusive growth, support the launch and growth of SMEs, and invest in community capacity to plan, attract, hire and retain skilled talent to support a clean and sustainable economy. ACOA will:

  • promote diversity and inclusion to enhance SME competitiveness, by delivering support for under-represented entrepreneurs and addressing gaps in the ecosystem to help them grow their businesses and pursue new opportunities;
  • support local and regional economic diversification in communities affected by the transition to a net-zero economy;
  • reach a larger number of Indigenous businesses by supporting efforts that target capacity building, pathfinding to national programs to leverage support, and increasing knowledge and awareness by convening federal and provincial governments, stakeholders and community partners through joint participation in key committees, initiatives and communities of interest;
  • help non-profit, third-party organizations such as Community Business Development Corporations support SMEs in small, rural and remote communities;
  • help communities address labour shortages by acting as a pathfinder, notably supporting federal and provincial partners with better labour market matches, accelerated transitions and the support of immigration and settlement services. This includes working with provincial and federal partners to support the inclusive workforce of the future by improving school-to-work transitions, helping to build new skills in growing sectors, increasing digital skills and leveraging initiatives such as the Atlantic Immigration Program.

Examples of ACOA’s place-based approach

Decarbonization

  • Maximizing the impact of clean technologies through the development of clean-tech firms, advocacy work with federal partners, pathfinding green funding, and collaboration on the production of clean energy such as hydrogen for domestic use and export.
  • Providing direct support to businesses and communities to assist with their own green transformations, promotion of energy literacy among their members, and pathfinding of green funding opportunities.
  • Working with provincial and industry partners on the development of onshore and offshore wind power and its supply chain. This can help support regional targets such as Nova Scotia’s goal to have five gigawatts generated from offshore turbines by 2030.

Strategic economic infrastructure

  • Identifying key opportunities, including interprovincial transmission lines, offshore wind, air access, and port facility development such as New Brunswick’s Port of Belledune Green Energy Hub, and multimodal and green transportation.
  • Financially supporting critical infrastructure projects to position them for future investment, including planning and small-scale pilot projects.

Indigenous reconciliation

  • Work with Indigenous organizations across Atlantic Canada to identify and support priority initiatives that benefit and enhance the growth of their communities and businesses while reflecting their self-identified economic and business development priorities with the goal of helping to advance economic reconciliation.

Tourism growth

  • Delivering the Tourism Growth Program.
  • Strategically designing and implementing tourism destination development programs to better support the Atlantic Canadian tourism industry.

Key risks

ACOA has identified two main risks to fulfill its mandate. The first is a risk that the Agency’s economic development programming may be affected by external factors that contribute to uncertainties for economic growth in Atlantic Canada. The second is a risk that the capacity of ACOA’s stakeholders – other governments, partners, communities and clients – for the identification, development and successful implementation of strategic projects may not be sufficient to support the optimal achievement of ACOA’s program objectives.

ACOA will continue to capitalize on the flexibility of its programs, including emergency funding, on its advocacy role, and on its integrated planning to mitigate potential risks associated with an evolving economy and the depth of regional stakeholders’ capacity. The Agency will also conduct analyses on regional economic issues and collaborate with stakeholders to foster client and community capacity to help achieve targets under key federal priorities.

Snapshot of planned resources in 2024-25

  • Planned spending: $357,057,686
  • Planned full-time resources: 378

Related government priorities

Program inventory

Economic Development in Atlantic Canada is supported by the following programs:

  • Inclusive Communities
  • Diversified Communities
  • Research and Development, and Commercialization
  • Innovation Ecosystems
  • Business Growth
  • Trade and Investment
  • Policy Research and Engagement

Supporting information on planned expenditures, human resources, and results related to ACOA’s program inventory is available on GC Infobase.

Internal services

Description

Internal services are the services that are provided within a department so that it can meet its corporate obligations and deliver its programs. There are 10 categories of internal services:

  • management and oversight services
  • communications services
  • legal services
  • human resources management services
  • financial management services
  • information management services
  • information technology services
  • real property management services
  • materiel management services
  • acquisition management services

Outside of these services, ACOA created the Office of Inclusion, Equity and Anti-Racism. This office is a neutral entity that provides leadership, strategic direction, policy advice, professional development, and expertise with respect to inclusion, equity and anti-racism within the Agency. It will engage external stakeholders in supporting corporate inclusion initiatives to remove systemic barriers.

Plans to achieve results

In 2024-25, ACOA’s Internal Services will continue to support sustainable change in a post-pandemic public service. This includes being more inclusive, equitable and accessible, and aiming to be free of racism, harassment and discrimination. Ultimately, these efforts will support the Agency’s standard of excellence for Atlantic Canadians through effective programs and services. To do so, ACOA will:

  • implement the second year of its new 2023 – 2028 Employment Equity and Anti-Racism Action Plan to promote and support a diverse and inclusive workplace;
  • continue to implement the Government of Canada’s Direction on the Prescribed Presence in the Workplace (PPW) to ensure a safe, healthy and flexible hybrid work environment for Agency staff, with a particular emphasis on change management to support psychological health and safety. Risks will be analyzed and mitigated, and the necessary protocols, directives, equipment and support will be provided;
  • prioritize mental health and wellness by supporting activities and initiatives aligned with the Clerk’s Call to Action and other government-wide strategies such as the “Nothing Without Us” accessibility strategy, the Federal Public Service Workplace Mental Health Strategy, and the Workplace Harassment and Violence Prevention Program;
  • develop employee leadership at all levels with the implementation of a new leadership initiative with specific considerations for employees from equity-seeking groups, including those who identify as Indigenous peoples, visible minorities, and/or persons with disabilities;
  • continue to act on ACOA’s Official Languages Action Plan, which aims to position ACOA as a leader in respecting the Official Languages Act and its obligations as well as supporting the advancement of the Official Languages Minority Communities in Atlantic Canada;
  • oversee the implementation of the remaining features of the Agency’s Grants and Contributions Program Management business system and the associated client web portal;
  • support the Government of Canada’s latest update of its Digital Ambition, notably by:
    • deploying modern tools and devices to further improve collaboration in a hybrid work model;
    • continuing efforts to transition legacy tools to cloud;
    • implementing new tool capabilities to modernize information management practice in an increasingly digital environment; and,
    • continuing to explore and adopt new capabilities to facilitate information sharing and collaboration with other federal departments.

Snapshot of planned resources in 2024-25

  • Planned spending: $28,585,667
  • Planned full-time resources: 195

Related government priorities

Planning for contracts awarded to Indigenous businesses

ACOA is resolute in supporting the Government of Canada’s commitments that 5% of the total value of contracts be awarded to indigenous businesses. ACOA is a Phase 2 organization and is required to achieve the minimum 5% target by the end of 2023-24. The Agency surpassed this target in 2022-23, with a result of 10% and plans to surpass the 5% commitment for the next two years.

The Agency’s mandate is to increase economic development in Atlantic Canada. As such, the Agency focused its energy on increasing business with Atlantic Canadian indigenous firms and will continue to do so by encouraging the use of Indigenous suppliers.

Table 4: Planning for contracts awarded to Indigenous businesses

The following table shows how the department plans to achieve awarding at least 5% of the total value of contracts to Indigenous businesses annually.

5% reporting field
2022-23 actual result
2023-24 forecasted result
2024-25 planned result
Percentage of contracts with Indigenous businesses

10%

Exceed 5%

Exceed 5%

Planned spending and human resources

This section provides an overview of ACOA’s planned spending and human resources for the next three fiscal years and compares planned spending for 2024-25 with actual spending from previous years.

Spending

Table 5: Actual spending summary for core responsibilities and internal services ($ dollars)

The following table shows information on spending for each of ACOA’s core responsibilities and for its internal services for the previous three fiscal years. Amounts for the current fiscal year are forecasted based on spending to date.

Core responsibilities and internal services
2021-22 actual expenditures
2022-23 actual expenditures
2023-24 forecast spending
Economic development in Atlantic Canada
414,266,127
402,753,191
449,479,697
Internal services
29,224,086
30,372,837
31,891,507
Total
443,490,213
433,126,028
481,371,204

Table 6: Budgetary planning summary for core responsibilities and internal services (dollars)

The following table shows information on spending for each of ACOA’s core responsibilities and for its internal services for the upcoming three fiscal years.

Core responsibilities and internal services
2024-25 budgetary spending (as indicated in Main Estimates)
2024-25 planned spending
2025-26 planned spending
2026-27 planned spending
Economic development in Atlantic Canada
357,057,686
357,057,686
313,056,667
221,582,508
Internal services
28,585,667
28,585,667
28,548,283
28,406,182
Total
385,643,353
385,643,353
341,604,950
249,988,690

Funding

Figure 1: Departmental spending 2021-22 to 2026-27

The following graph presents planned spending (voted and statutory expenditures) over time.

[Access the bar graph template on GCPedia]

Graph: Actual and planned spending over six fiscal years

Estimates by vote

Information on ACOA’s organizational appropriations is available in the 2024-25 Main Estimates.

Future-oriented condensed statement of operations

The future-oriented condensed statement of operations provides an overview of ACOA’s operations for 2023-24 to 2024-25.

The forecast and planned amounts in this statement of operations were prepared on an accrual basis. The forecast and planned amounts presented in other sections of the Departmental Plan were prepared on an expenditure basis. Amounts may therefore differ.

A more detailed future-oriented statement of operations and associated notes, including a reconciliation of the net cost of operations with the requested authorities, are available on ACOA’s website.

Table 7: Future-oriented condensed statement of operations for the year ending March 31, 2025 (dollars)

Financial information
2023-24 forecast results
2024-25 planned results
Difference
(2024-25 planned results minus
2023-24 forecast results)
Total expenses
367,333,593
281,682,002
(85,651,591)
Total revenues
20,556
30,435
9,879
Net cost of operations before government funding and transfers
367,313,037
281,651,567
(85,661,470)

Human resources

Table 8: Actual human resources for core responsibilities and internal services

The following table shows a summary of human resources, in full-time equivalents (FTEs), for ACOA’s core responsibilities and for its internal services for the previous three fiscal years. Human resources for the current fiscal year are forecasted based on year to date.

Core responsibilities and internal services
2021-22 actual FTEs
2022-23 actual FTEs
2023-24 forecasted FTEs
Economic development in Atlantic Canada
394
386
369
Internal services
201
210
200
Total
595
596
569

Table 9: Human resources planning summary for core responsibilities and internal services

The following table shows information on human resources, in FTEs, for each of ACOA’s core responsibilities and for its internal services planned for 2024-25 and future years.

Core responsibilities and internal services
2024-25 planned FTEs
2025-26 planned FTEs
2026-27 planned FTEs
Economic development in Atlantic Canada
378
375
371
Internal services
195
193
191
Total
573
568
562

Corporate information

Supplementary information tables

The following supplementary information tables are available on ACOA’s website:

Information on ACOA’s departmental sustainable development strategy can be found on ACOA’s website.

Federal tax expenditures

ACOA’s Departmental Plan does not include information on tax expenditures.

Tax expenditures are the responsibility of the Minister of Finance. The Department of Finance Canada publishes cost estimates and projections for government-wide tax expenditures each year in the Report on Federal Tax Expenditures.

This report provides detailed information on tax expenditures, including objectives, historical background and references to related federal spending programs, as well as evaluations, research papers and gender-based analysis plus.

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