Province Invests in Jobs, Infrastructure, and Training Through Shipbuilding Contracts

Published by the Premier's Office

Friday, March 30, 2012

Nova Scotia committed up to $304 million in loans as part of Irving Shipbuilding's successful bid for the $25 billion federal combat vessel shipbuilding program. It is the single largest investment in jobs and growing the economy in the province's history.

Quotes

“ I, the entire province, and indeed people from across Canada, have stood behind Irving's bid from day one, knowing that the best ships in the world start right here. ” Premier Darrell Dexter

“ This is the single most important opportunity Nova Scotia has ever seen to create jobs and propel our economy into the future. This is a vital project for Nova Scotia and for Canada. ” Premier Darrell Dexter

“ Nova Scotia won these contracts fair and square, but let me be clear, the opportunities in front of us are not entitlements. To achieve the greatest growth and transformation
of our economy, we will have to work together and work hard. If we don't, others surely will.” Premier Darrell Dexter

“ We appreciate the vision shown by the province and Premier Dexter in recognizing the significant impact the new federal shipbuilding contracts will have in Nova Scotia. ” Jim Irving, CEO of Irving Shipbuilding

“ During the past 15 years, Nova Scotia's confidence in our capabilities made us a contender, earning the highest score and the right to build Canada's next generation of combat vessels. We would not have won without Nova Scotia's support. ” Jim Irving, CEO of Irving Shipbuilding

Quick Facts

• The contracts, estimated at $25 billion, will mean an additional 11,500 jobs for Nova Scotians and will increase the province's GDP by almost $900 million during peak production years.
• The impact of the shipbuilding work is estimated to result in $2.8 billion in additional revenue to the province over the course of the next 19 years.
• The province committed to a financial assistance package that includes a forgiveable capital loan worth up to $260 million, and a repayable marine industry loan worth $44 million for human resource development, technology and industrial development.
• The provincial investment was crafted to support key competitive features that would help put the Irving bid in front.
• Irving will contribute $250,000 per year, over the next 30 years, to support the Irving Shipbuilding Centre of Excellence at the Nova Scotia Community College.

Learn More

• Premier's Office
• Irving Shipbuilding Inc.
• Ships Start Here
• National Shipbuilding Procurement Strategy

Media Contacts

Melissa MacKinnon

Executive Council

Cell: 902-240-9077

E-mail: mackinnm@gov.ns.ca

Deborah Hashey

Irving Shipbuilding Inc.

902-484-4552

E-mail: hashey.deborah@irvingshipbuilding.com

Jennifer Gavin

Economic and Rural Development and Tourism

Cell: 902-219-1137

E-mail: gavinjm@gov.ns.ca