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:

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