Mr. Speaker, since its inception in 1987, ACOA has played a significant role in the Atlantic Canadian economy. This agency provides valuable assistance to Atlantic businesses.
As the agency's 2001 performance report recognizes, ACOA assisted firms have consistently out performed non-ACOA assisted firms in the Atlantic provinces in productivity growth:15.7% compared to 10.5%.
Research indicates that between 1987 and 1997, every $1 of ACOA spending generated $5 of GNP impact. This does not take into consideration other newer programs, such as the $700 million Atlantic investment partnership that was launched in 2001 to encourage innovation and R and D in the Atlantic provinces.
Atlantic Canada needs its regional development agency. Atlantic Canada needs to share more in national programs.
ACOA has played an extremely important role in rural communities and regional development in general for Atlantic Canada and deserves recognition for a job well done.