The federal government has committed $200 million to the launch pad based in Canso N.S. to help develop the Canadian space industry.

The government announced Monday it is signing a 10-year lease on the space launch pad operated by Halifax-based Maritime Launch Services as part of its new defence industrial strategy. The statement said that the strategy calls for Canada to be able to put satellites into orbit, even during times of global tension and uncertainty.

Spaceport Nova Scotia is being developed to provide satellite launch services for both Canadian and international clients. The project is expected to generate economic benefits in rural Nova Scotia through job creation, investment attraction, and the growth of a local supply chain. The first satellite launch from the site took place in July 2023.

“Located on Canada’s Atlantic coast, Spaceport Nova Scotia offers safe over-ocean launch corridors and access to highly sought-after orbital inclinations, providing a unique capability that only a limited number of global launch locations can support,” said Maritime Launch CEO Stephen Matier in the statement. “Spaceport Nova Scotia helps address a global launch capacity bottleneck, where demand for access to orbit continues to outpace available launch infrastructure.”

The government commitment is a 10‑year, $200‑million agreement to lease the dedicated space‑launch pad that will serve as the foundation for the multi-user spaceport. The government said the spaceport will support the operational needs of the Department of National Defence and the government itself, while offering ad hoc access to allies and partners.

The contract demands that 90 percent of the money be spent within Canada, which translates into $180 million for Canadian businesses.

Of the $200 million commitment, the Atlantic Canadian Opportunities Agency is delivering $38.2 million, over three years, under the Regional Defence Investment Initiative.

Shares in Maritime Launch rose 36 percent to 45 cents a share in over-the-counter trading Monday, according to Google, although they have since fallen back about 6 percent.