P.E.I. government hopes to turn province into marine technology hub
P.E.I.'s economic development minister wants to turn the Island into a hub for advanced marine technology.
Heath MacDonald says the Navy, Coast Guard and commercial sailors will spend $40 billion on new contracts in the next decade.
As an incentive to attract some of that work, the province will offer a corporate tax rebate to marine companies that hire 15 or more people and spend $700,000 a year on staff.
"By supporting the development of advanced marine technology now, we help set the foundation for the creation of a cluster of companies that could make Prince Edward Island a hub for [the] marine technology industry worldwide," said MacDonald.
He says the province was very successful in bringing aerospace companies to P.E.I. more than two decades ago.
The official opposition applauds the move but expressed worry that new companies may just pack up and leave after a few years.
