The province is setting aside up to $25 million over three years to help shipyards modernize infrastructure and compete for more work.
The provincial cash will go to the Association of B.C. Marine Industries to distribute.
B.C. companies can apply for funds for projects to modernize and increase capacity for shipbuilding, refit, repair, and maintenance. The money will also support yards wanting to build smaller vessels.
The new grant programs kick off in the fall with two streams. One will cover 50 per cent of capital costs up to $500,000 to modernize a facility and its equipment and for new small-vessel construction infrastructure.
The second will cover 25 per cent of capital costs up to $5 million for dry dock and wharfage expansion for vessel overhaul, refit, maintenance and repair infrastructure.
A new West Coast maritime office will also be set up to foster collaboration among partners in the sector, bolster the ability to respond to opportunities, and link provincial companies with growth opportunities.
“By modernizing our maritime infrastructure and better co-ordinating maritime industry contracts and workforce strategies, B.C. will support local companies to grow into new international markets and open more career opportunities for British Columbians,” said Brenda Bailey, minister of Jobs, Economic Development and Innovation.
