Mr. Chairman, committee members, good evening.
Thank you for the opportunity to speak today.
I am joined by Mr. Chuck Maillet, the director general of regional operations.
As you heard from my colleagues yesterday, ACOA is the regional development agency responsible for building and promoting Atlantic Canada's economy. The agency provides programs and services that support innovation, productivity, and diversification. Through its proactive engagement, ACOA is able to respond swiftly to economic changes and emerging opportunities.
The region does, however, face a number of challenges, and ACOA is addressing them. Key among these are shifting demographics, labour force participation, the attraction and retention of immigrants, productivity and the commercialization of research, and also growing the base of exporters. There are no easy fixes, but sustained effort based on sound policy analysis is helping to make inroads.
I'd now like to turn to Nova Scotia specifically. At just under a million people, the province has the largest population in Atlantic Canada. With more universities per capita than any jurisdiction in the country, it is recognized internationally as a centre for higher learning. For example, Cape Breton University in Sydney welcomes about a thousand students per year—about 30% of its student body—from over 40 countries. There are similar situations at the other Nova Scotia post-secondary institutions.
The province is also becoming known more and more as a start-up hub. One thing I want to point out is that there's a direct link between high-quality education and a skilled workforce in information and communications technology, life sciences, and clean technology. Graduates are developing innovative solutions to real-world problems and driving growth.
This start-up ecosystem is connected to a national network, attracting funds and venture capital. In fact, Startup Canada just recently presented the agency with its Atlantic entrepreneur support award. It recognizes the work ACOA does with organizations such as Volta. Volta is a Halifax-based start-up house that helps develop businesses with high growth potential.
There's also a growing global awareness of the importance of our oceans. In the 1920s, Nova Scotia's Alistair J. Campbell coined a phrase concerning the province: “Canada's ocean playground”. It's had a very strong brand recognition ever since. But of course the ocean is much more. With one of the highest concentrations of oceans-related Ph.D.s in the world, this sector presents significant opportunities. Already the sector employs about 35,000 in Nova Scotia, and accounts for $4.5 billion, or about 12%, of the provincial GDP.
Recently the Ocean Frontier Institute received $94 million from the federal government, providing strong momentum to this sector. I might add that in addition to Dalhousie, Memorial University of Newfoundland and the University of P.E.I. are also key partners. This investment will help accelerate scientific understanding and the commercialization of new products and services.
Increasing the number of Nova Scotian export-ready businesses is critical. Opportunities exist across a broad spectrum, including such traditional sectors as fisheries and agrifood, where the focus really is on productivity improvements and value-added product lines.
There are, of course, some new sectors, such as clean tech, building an international presence and capturing market share. One example is CarbonCure, based out of Nova Scotia, which is in the process of signing deals with industry leaders. They're essentially a technology firm. They retrofit concrete plants with a technology that recycles carbon dioxide waste to make stronger, affordable, greener products.
Membertou First Nation has created a strong business foundation that is paying significant social and economic dividends for the community in Cape Breton and beyond. In fact, later this month Membertou is hosting the Nova Scotia Mi’kmaq Energy and Innovation Summit. Here businesses will be able to speak directly with representatives from all 13 of Nova Scotia's Mi'kmaq communities.
In the tourism sector, a new dynamic is emerging that resonates with travellers seeking authentic cultural experiences. Visitors with discerning palates can experience locally produced foods prepared by acclaimed chefs and paired with award-winning Nova Scotia wines. This culinary tourism, while relatively new, is showing great promise.
Through direct financial assistance, advocacy, and the ability to leverage knowledge and resources, ACOA is making a difference.
For instance, with the agency's recent contributions to L'Arche, both in Cape Breton and in Wolfville, those two projects are strengthening inclusive social enterprises. With community support, adults with developmental disabilities are participating more fully in the economy.
With the recent introduction of the Atlantic growth strategy back in July, the region is ready for concerted action. Its five pillars—skilled workforce and immigration, innovation, clean growth and climate change, trade and investment, and infrastructure—will support the agency's activities and engagements going forward.
The agency will continue to build on its strong relationships with communities, businesses, and provincial and municipal governments to develop the province's competitive advantages and make a real difference to the economic landscape.
Thank you.