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Sunday, November 20, 2011

Potential Spinoffs From NS Shipbuilding Contract Big For NB

The Conference Board Of Canada predicts for every thousand dollars spent on procurement relating to the Irving Shipbuilding contract in Nova Scotia, about $11 will go into the New Brunswick economy.

Fred Bergman of the Atlantic Provinces Economic Council tells CHSJ News over the twenty-five years of the contract this Province could see $275 million in economic activity.

He says they may see even more than that if suppliers take advantage of a long term contract like this and develop relationships with Irving shipbuilding.

Bergman says outside Nova Scotia,  New Brunswick has the most suppliers for the combat vessel program with 8 contracts at 1 million dollars or more and 27 contracts at $100,000 or above.