Province Contributes $40 Million to Boost Seaspan’s Shipbuilding Bid

July 29, 2011

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The Hon. Pat Bell, Minister of Jobs, Tourism and Innovation announced a $40 million package from the Province to support Seaspan’s bid for a portion of the federal government’s $35 billion National Shipbuilding Procurement Strategy.

If Seaspan’s bid is successful, the Province is proposing enhanced training or other labour tax credits for eligible marine industry employers in BC, providing up to approximately $35 million in benefits to Seaspan over the 30 year span of the shipbuilding program. The Province will also invest $5 million to support the productivity and long-term viability of the broader marine sector should Seaspan secure the contract.

BC Ferries has also committed $20 mil-lion toward building the capacity of BC’s ship repair and maintenance industry.

The federal government is expected to make its decisions on awarding the shipbuilding contracts this fall.