On May 22, the Atlantic Canada Opportunities Agency announced it would end federal funding support effective May 21, 2013.
Under its current operational formula, ADEDA receives one third of funding support from ACOA, with another third being contributed by the province, and the remainder from six participating municipal united in the counties of Annapolis and Digby.
ADEDA managing director Liz Morine says the agency will communicate soon with clients and community stakeholders to deliver a development strategy for the coming year.
“Obviously, this announcement requires that we appraise our current plans and seek community input,” Morine said.
“And it’s also important that we immediately begin dialogue with all our funding partners to identify the new operating reality for community economic development”.
ADEDA board chair Holger Mueller-Sparenberg said the ACOA decision will force partners to examine new possibilities for community economic development.
“It’s never a bad thing for economic development planners, participating communities and recipient clients, to seek innovative new models and explore new paradigms,” he said. “That’s clearly what we have to do now and this announcement calls for even closer regional cooperation in our area.”