- Partner News
- Media Releases
- Mainstream News
More than 290 businesses across Atlantic Canada receive RRRF funding from ACOA to protect thousands of jobs and address the impact of COVID-19
September 30, 2020 – Moncton, NB – Atlantic Canada Opportunities Agency
COVID-19 has had a severe impact on businesses of all sizes across the country, and those whose livelihoods depend on them. Across Atlantic Canada, local businesses have faced challenges keeping their employees, paying rent and managing cash flow. From the outset, the Government of Canada has taken meaningful action to support them, including through the $962 million Regional Relief and Recovery Fund (RRRF).
Nearly doubling the budget of Canada’s Regional Development Agencies, the RRRF supports businesses that have been unable to get access to other federal relief measures, and might be in danger of falling through the cracks. In Atlantic Canada, the Atlantic Canada Opportunities Agency (ACOA) is delivering over $110 million to protect jobs, support businesses and help them play a role in our economic recovery.
Jobs and Recovery for Atlantic Canada
Today, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA, announced that 293 projects with businesses and business support organizations have been supported with over $63 million in RRRF funding, protecting jobs across the region.
With Atlantic Canada’s tourism sector – and industries that rely on it like food service, recreation and entertainment – deeply affected by COVID-19, more than 30 percent of ACOA’s RRRF investments are supporting tourism-related businesses. With downtown cores also hit hard by COVID-19, $9.1 million was allocated to four organizations to help soften the effects on main street businesses, like small retail shops.
As support from the RRRF reaches those who need it most, Atlantic Canada’s economic recovery is generally progressing ahead of the rest of the country.
“Businesses and workers across Atlantic Canada have been hit hard by COVID-19, and we’re here for them with major support from programs like the RRRF, so no one falls through the cracks. The funding is making a real difference for hundreds of Atlantic businesses, and protecting thousands of jobs from St John’s to Fredericton. Our message is clear: we’ve been here for you with immediate measures, we’re here for you now as our economy reopens and we’ll get through this, together. We’re working with you to support good, local jobs and help Atlantic Canada’s economy come back strong.”
– The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA
“What became clear early on in the COVID-19 lockdown was that Main Street businesses – the engines of downtowns across Atlantic Canada – would need targeted support to keep them afloat as the economy slowed. I’m pleased that these organizations, through ACOA, were able to provide regional recovery and relief support to these businesses to help them recover as the economy moves forward.”
– René Arseneault, Member of Parliament for Madawaska-Restigouche and Parliamentary Secretary to the Minister of Economic Development and Official Languages (ACOA and Official Languages)
Office of the Minister of Economic Development and Official Languages
Atlantic Canada Opportunities Agency
114 total views, 2 views today