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ACOA Briefing – Minister

TABLE OF CONTENTS

Atlantic Momentum

Atlantic Canada is experiencing historic momentum…

Macro Economy

Labour Market

Innovation and Investment

Human Capital

Quality of Life


ACOA AT A GLANCE

Fuelling economic growth in Atlantic Canada

Mission

Values

TWO CORE FUNCTIONS

Delivering programs and advocating for Atlantic Canada

ACOA’s mandate is twofold:

Delivery Partners

Advocacy Stakeholders

ISED | ESDC | NRCan | ECCC

DFO | AAFC | IRCC | TC

ORGANIZATIONAL STRUCTURE

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CURRENT CORE PROGRAMS

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

Regional Economic Growth through Innovation (REGI) (common to all RDAs)

Business Development Program (BDP)

Atlantic Innovation Fund (AIF)

Innovative Communities Fund (ICF)

Community Futures Program (CFP)

CURRENT TEMPORARY PROGRAMS

Delivering short-term initiatives

COVID-19 economic recovery initiatives

Aerospace Regional Recovery Initiative*

Jobs and Growth Fund*

Other funding initiatives

Hurricane Fiona Recovery Fund

PEI Potato Stabilization and Innovation Initiative

National Ecosystem Fund / Black Entrepreneurship Program*

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

*COMMON INITIATIVES FOR ALL REGIONAL DEVELOPMENT AGENCIES

PROGRAM SPENDING

Providing grants and contributions as a catalyst for growth

Actual Expenditures Planned Expenditures (*)
2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026 2026-27
Operations & Maintenance $79M $79M $82M $83M $76M $75M $75M
Grants & Contributions $496M $364M $351M $424M $229M $221M $162M
Total $575M $443M $433M $507M $305M $296M $237M

Over the past decade (2012-2013 to 2022-2023)

* Decline in program spending is due to the winding down of short-term initiatives. Budget 2023 decisions are reflected in the table but are based on estimates only at this time.

CLIENT PROFILE

ACOA’s commercial clients

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RESULTS

Impacting the region’s economy

Sales and labour productivity (2015 to 2020)

Business exports, growth and R&D (2015 to 2020, except for exports)

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The business survival rate for ACOA-assisted start-ups is 2.2 times higher than for unassisted firms after the crucial fifth year following start-up.

HEADWINDS

…but residents and business owners in Atlantic Canada are still facing a number of economic pressures

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AREAS OF FOCUS

Working strategically to unlock Atlantic Canada’s economic potential

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OUTREACH OPPORTUNITIES

Key Announcements

Media Interview

Potential Trips

Keynote Events