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PRIME MINISTER ANNOUNCES
NEW ATLANTIC INVESTMENT PARTNERSHIP
June 29, 2000
Ottawa, Ontario
Prime Minister Jean Chrétien today announced a fresh approach to regional
economic development in Atlantic Canada: the Atlantic Investment
Partnership.
The $700-million, five-year federal initiative, is a balanced mix of strategic
investments and initiatives designed to build new partnerships that will
strengthen the capacity of all Atlantic Canadians to innovate and compete in the
global, knowledge-based economy.
"The Atlantic Investment Partnership is a bold plan designed to ensure
not only that Atlantic Canadians can take their rightful place in the new
economy, but that they can make their place at home -- in Atlantic Canada,"
said the Prime Minister. "Its focus will be on helping to close the skills,
innovation, and productivity gaps with other parts of Canada. And its method
will be by way of partnerships; partnerships with governments, communities,
businesses, universities, colleges and research institutes."
In making the announcement, the Prime Minister praised the creative role of
the Liberal Atlantic Caucus, whose landmark report, Atlantic Canada: Catching
Tomorrow’s Wave, played a formative role in developing the new Partnership.
Major investments under the Partnership will include:
- $300 million for the Atlantic Innovation
Fund (AIF), which will make strategic investments to strengthen innovation
capacity, increase the region’s competitiveness and encourage the region’s
transition to a more knowledge-based economy. Investments will be overseen by
an Advisory Board made up of academics and business leaders in the R&D and
high-technology fields;
- $110 million for the expansion of National
Research Council facilities in Atlantic Canada; and
- $135 million
for the Partnership for Community Economic Development to strengthen
economic planning at the local level and improve access to funding for
strategic community level projects.
Through a new Partnership for Trade and Investment the Atlantic
Investment Partnership will help build the region’s export capacity, with a
special focus on its largest trading partner: the United States. The cornerstone
of this renewed effort will be an "Investing in Atlantic Canada"
program designed to feature the region as a prime location for American
investment.
And through a new Partnership for Entrepreneurship and Skills Development,
the Atlantic Investment Partnership will ensure that Atlantic
Canadians have access to the training and management skills needed to compete
and succeed in the new economy.
The Partnership for Entrepreneurship and Skills Development will include an
enhanced focus on youth entrepreneurship. Atlantic Women's Business Centres will
improve access to capital and business support services for women entrepreneurs.
Special attention will be given to enhancing the innovation capacity of small
and medium sized businesses.
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PMO Press Office: (613) 957-5555
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