Nova Scotia’s Acadian Seaplants company is expanding with government help

The Canadian Press
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HALIFAX — The expansion of a company in Nova Scotia that harvests seaweed used in specialty fertilizers, animal feed supplements and by cosmetics markets is getting provincial government support.

Acadian Seaplants' Dr. James S. Craigie Research and Development Center

Acadian Seaplants is spending more than $4 million on new equipment at its operations in Shelburne County, Cornwallis, and Yarmouth and Charlesville.

The province is contributing almost $540,000 to the project.

Acadian Seaplants harvests and processes seaweed that is shipped to 80 companies around the world.

The biotechnology company’s products are used by a variety of industries and includes cultivated sea vegetables sold at Asian food markets.

Acadian Seaplants president Jean-Paul Deveau says the equipment the company is buying will help it improve productivity, while also cutting waste and emissions.

Geographic location: Nova Scotia, Shelburne County, Charlesville

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  • Jim G
    April 23, 2014 - 10:00

    We have to create a name for organizations that receive government handouts. This is not industry and the handouts do not create jobs. A company (s) in Nova Scotia must earn approximately $10,800,000 in net income to earn a 10% profit margin of $1,080,000 and with a tax rate of approximately 50% pay taxes of $540,000 to be transferred to another company in sometimes competing industries. I wonder what all the shareholders of profitable companies think of their profits going toward proping up unprofitable organizations. What kind of risk return theories get used. You invest in profitable companies and your investment is reduced to fund unprofitable companies. Nova Scotia will never attract capital investment with this type of economic environment. Why not lower the tax rate from 50% to 10% and allow the company to reinvest the profits allowing them to hire more taxpaying employees? This way the successful companies that are well managed grow stronger, grow faster and can compete in world markets with companies in lower tax durisdictions. Let organizations that are mismanaged and under capitalized close up without the taxpayer being involved. This corporate welfare scheme has been going on for 45 years or more. The result is Nova Scotia in one of the most indebted places on earth that only survives because of transfer payments from other provinces. We can understand politicians try their best to create jobs and get credit for this. Unfortunately they have 4 years to show what they can do and the result is government handouts. With a low tax environment it will take 10 years to see the results. Maybe what is needed is an economic advisory committee of volunteers that can advise government what to do over the long term and as governments change keep the goals focused. Once the economy is on track and not used as a vote buying mechanism governments can focus on education, health care and other issues.

  • Andy
    March 26, 2014 - 16:11

    Ummmm???? Isn't this the same Premier and his government that was elected on the promise that they weren't going to give money to private industry? Isn't that what they screamed about the time the NDP was in government? Stephen McNeil loves to claim that industry has to stand on its own two feet...no government hand outs; and, he was just quoted in the paper today saying that government doesn't create jobs, private industry does. So why, now, is he and his government willing to offer financial subsidies to private industry (and it's okay) but it wasn't okay for the NDP to do it 6 months ago. Love the fact that they finally approve AFTER they are in office. Just another false promise to get the Liberals back into the drivers seat.