July 5, 2022 · Dartmouth, Nova Scotia · Atlantic Canada Opportunities Agency (ACOA)
A key part of Canada's economic recovery is supporting businesses as they adapt, grow and move forward from the COVID-19 pandemic. Small and medium-sized businesses and the organizations that support them represent the backbone of regional economies. They generate quality local jobs and are a source of pride for their communities. To do so, businesses and entrepreneurs need a strong foundation, built on technological innovation, inclusivity, and clean growth to create the workforce of the future.
Federal investments support business growth
Today, Darren Fisher, Parliamentary Secretary to the Minister of Seniors and Member of Parliament for Dartmouth - Cole Harbour, announced a repayable investment of $500,000 through the Jobs and Growth Fund (JGF) for Global Spatial Technology Solutions Inc. (GSTS). The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.
GSTS is creating five full-time positions to bring its artificial intelligence (AI) platform, OCIANA™, to market faster. The system collects and analyzes data from satellites and sensors, including information on ocean, weather, vessel, port and marine species activity. It transforms the large quantities of data it receives into usable, decision-making information for the military, civil and commercial sectors. Through the project, GSTS will establish its first two systems at the ports of Halifax and New York, digitally connecting the two maritime cities. Scaling up and building on the product's features will help the firm meet growing global demand for its vessel management capabilities.
Launched in July 2021, the Jobs and Growth Fund (JGF) provides $700 million over three years to Canada's regional development agencies to support a regional response and stimulate economic recovery following the COVID-19 crisis by investing in projects that will help to create jobs. Through the JGF, the Government of Canada aims to support the transition to a green economy, foster an inclusive recovery, enhance competitiveness, and create jobs in every corner of the country.
