On September 1st, the provincial and federal governments announced $19.7 million in funding to convert the former Canadian Coast Guard base in Dartmouth into the Centre for Ocean Ventures and Entrepreneurship (COVE).
The new ocean innovation centre, set to begin development within the year and to open in 2018, will be an incubation hub for research, design, and development. COVE will support goals outlined in OneNS.
In 2015, Waterfront Development purchased the site from the federal government for $6.5 million to develop the new centre, which includes buildings, waterfront, over 850 metres of wharf and two 100-metre piers. The corporation will work with the provincial government, industry and post-secondary schools to develop the centre. Nova Scotia Community College will be the academic lead, but researchers from all provincial universities are expected to be tied to the project. The ocean technology research and private sector marine businesses will work to drive investment, commercialization, exports, and growth.
COVE will serve as an important asset to our ocean economy, which is worth one-eighth of our provincial GDP and employs approximately 35,000 people. Nova Scotia has the most ocean intensive economy in the country, with more than 200 local companies working in ocean science and technology sector including fisheries, aquaculture, offshore oil and gas, shipbuilding, and maritime security. Not only is our link to the ocean directly impactful to our economy, ocean industries also drive growth in other major sectors such as defence and security, transportation and logistics, aquaculture, and energy.
Halifax is known as Canada’s Ocean City – click here for videos, success stories, and more on this fundamental sector of our city’s economy. The private and public sectors are investing more than $23.5 billion in major projects in Nova Scotia’s ocean sector including the construction of the COVE, and billions are being invested in offshore and in-stream tidal energy