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2019-20 Departmental Results Report Results at a glance and operating context

In 2019-20, the Atlantic Canada Opportunities Agency (ACOA) invested in strategic projects across Atlantic Canada to grow a strong, diversified, sustainable and inclusive regional economy. Using its traditional place-based approach^{Footnote (i)} helped the Agency continue to be responsive to local and rural realities and position the region’s small and medium-sized enterprises (SMEs) and communities for growth. This approach also allowed the Agency to react quickly to the needs of SMEs and communities in response to the COVID-19 pandemic and its impacts in early 2020.

ACOA’s results continue to be influenced by Atlantic Canada’s economic context (e.g., trade uncertainty) and the capacity of partners, communities and clients. The Atlantic Canadian economy outpaced the national economic growth trend in 2019, growing by 2.5% in 2019 compared to 1.7% nationally.^{Footnote (ii)} However, COVID-19 had significant impacts on growth in the first quarter of 2020 that continue to be felt. Because of the region’s small, open economy, international competition from low-cost producers remains a challenge for Atlantic Canada’s manufacturing base and resource industries. Ongoing demographic pressures and lagging capital investments will continue to influence future growth prospects in the region.

The Agency continued to support the Government of Canada’s economic priorities through its delivery of the Regional Economic Growth through Innovation program, a program designed to foster an entrepreneurial environment conducive to innovation, growth and competitiveness. This program was delivered diligently along with its several initiatives, including the Women Entrepreneurship Strategy (WES) and its two components – the WES Ecosystem Fund and the Women Entrepreneurship Fund (WEF) to help women grow their businesses through access to financing, talent, networks and expertise – in addition to the Steel and Aluminium Initiative and the Canada Coal Transition Initiative.

Through ACOA’s client-centric approach, the Agency helped businesses and organizations connect with other federal programs and services relevant to their needs. A recent evaluation of Innovation programming found that “ACOA’s funding and other supports contribute to a strengthened innovation ecosystem, the commercialization of new or improved technologies, products, processes or services, and productivity improvements… [and the] Agency’s expanded and more deliberate role in convening and pathfinding has developed new partnerships to address changing priorities.”^{Footnote (iii)}

In 2019-20, the Agency remained focused on key priorities that offer Atlantic Canada key opportunities for growth such as advanced manufacturing, clean growth, food, tourism, skills, Indigenous economic development, ocean, innovation ecosystems and immigration. All ACOA programs were delivered with an inclusive lens to ensure underrepresented groups were supported including official language minority communities. Activities included the following:

Technologies – ACOA approved more than $87.6 million for 179 projects to support the development, commercialization and adoption of innovative technologies. The Agency fostered partnerships and collaborations between the private sector, and research and business support organizations. It also supported business accelerators and incubators in the region to address gaps in support of start-ups. As a result of ACOA’s support for technology:

• In Newfoundland and Labrador, Breathesuite commercialized a new medical device and inhaler to enhance the lives of respiratory patients.
• Nova Scotia’s Global Spatial Technology Solutions, an artificial intelligence company, developed advanced vessel management tools using automatic identification systems data from ships. These systems provide decision-making intelligence through big data.

Businesses – ACOA helped grow globally competitive businesses by approving nearly $104 million for 612 projects that support the development of products and services, the adoption and adaptation of advanced technology, and the acquisition of skills and market knowledge. It supported company-oriented growth plans under the Accelerated Growth Service, worked with federal and provincial partners to deliver on the multi-year Atlantic Trade and Investment Growth Strategy, and helped businesses and tourism operators expand through the Atlantic Canada Tourism Agreement. With ACOA’s support:

• New Brunswick’s Verger Belliveau Orchards adopted high-speed bagging and packing lines that enhanced its ability to process top quality products at a competitive cost to keep growing its domestic and export sales.  
• Prince Edward Island’s Royal Star Foods expanded its facilities to improve the quality and safety of its loading practices for global customers. The expansion is reducing costs and the company’s carbon footprint by requiring fewer shipments to other cold storage locations and increasing work for local employees.

Communities – ACOA fostered inclusive growth by approving over $88.6 million for 476 projects to develop and diversify communities. The Agency helped attract and retain global talent, supported strategic investment to help communities adapt to changing economic circumstances, and engaged with governments, businesses and community stakeholders to foster economic growth in Indigenous communities. It also approved nearly $1 million to help women entrepreneurs grow their businesses and help non-profit, third-party organizations deliver support through the WES. With ACOA’s support:

• Nova Scotia start-up and WEF recipient Peer Ledger grew its capacity to explore and develop new markets, diversify its customer base and increase sales of its block-chain technology that help companies reduce counterfeiting and safety risks in their supply chains. 
• The Mi’kmaq Confederacy of Prince Edward Island supported initiatives to grow and establish social enterprises, provide entrepreneurial support, and increase product offerings and entrepreneurship skills of Indigenous tourism operators and vendors.

For more information on ACOA’s plans, priorities and results achieved, see the “Results: what we achieved” section of this report.