Program will fund $25 million a year for skills training and new equipment
A new program will help companies in Nova Scotia improve employees' skills and purchase advanced equipment in order to become more competitive.
The productivity investment program is one of the most significant investments in workplace training in the province's history, said Premier Darrel Dexter.
"Investment in people and equipment makes us a more competitive province — it's that simple," said Dexter. "Being more competitive is essential to growing our economy. That's why we're providing Nova Scotia companies with even more opportunity to increase productivity and learn the right skills for good jobs."
The program will have an annual budget of $25 million and focuses on productivity in two ways: skill development for existing employees through the workplace innovation and productivity skills incentive component, and the purchase of advanced technology and equipment through the capital investment incentive component.
"Providing capital assistance to purchase new technologies and equipment is a proven way to increase productivity," said Ann Janega, vice-president of the Nova Scotia division of Canadian Manufacturers and Exporters. "Expanding the program to include more businesses and advanced manufacturing sectors, and doubling the amount available from 10 to 20 per cent is very exciting news."
The program also provides increased funding of $350,000 to expand the province's post-secondary co-operative education program to provide meaningful work experience to students, and $300,000 to increase the capacity of the Department of Labour and Workforce Development's workplace education initiative.
