Shipyard enhancements position Nova Scotia company to produce new eco-friendly yachts
January 21, 2019 – Lunenburg, NS – Atlantic Canada Opportunities Agency
Innovative companies are significant contributors to the Atlantic Canadian economy with their ability to adapt and diversify as they create jobs, increase exports and add to the region’s competitiveness. One such company is Lunenburg’s Covey Island Boatworks (CIB), which is upgrading its shipyard facility in Brooklyn to construct a new environmentally friendly hybrid yacht.
CIB’s increased capacity and innovative new product line will allow the company to begin to target new international markets while the modernization of its shipyard will create highly skilled jobs in the Lunenburg and Liverpool areas.
Today, the Honourable Bernadette Jordan, Minister of Rural Economic Development and Member of Parliament for South Shore – St. Margarets, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), announced federal support for the project.
This investment builds on commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in the region through the Atlantic Growth Strategy, which supports high growth firms in areas such as export and innovation to build a more competitive Atlantic Canada.
“Canadians are leaders in creating world-class technologies and innovative products. Investing in businesses that are making advances in areas like clean technology creates meaningful jobs for the middle class and allows Canada to be seen as a competitive force on the global stage.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“We are very excited to be upgrading our Brooklyn yard, the improvements will enable us to not only build the hybrid yachts, but also increase our capacity and work on other large projects at the same time in our 17,000 square foot facility. “
– Al Hutchinson, President, Covey Island Boatworks
“Covey Island Boatworks has been a significant contributor to the South Shore’s local economy since it was founded almost forty years ago. Ensuring Covey Island Boatworks can produce its new hybrid yacht helps minimize our impact on the environment and enables the company to continue to create skilled jobs and bring export dollars to our region.”
– The Honourable Bernadette Jordan, Minister of Rural Economic Development and Member of Parliament for South Shore – St. Margarets
The Government of Canada will be providing a $97,500 repayable contribution through ACOA’s Business Development Program.
Covey Island Boatworks, also known as Lunenburg County Shipwrights, is an internationally acclaimed builder of high-end custom sailboats and motor yachts.
This project will create three new full-time positions and maintain nine other positions.