The Atlantic Canada Opportunities Agency (ACOA) has announced funding of more than $4 million for nine Nova Scotia defence companies under the Regional Defence Investment Initiative.

The funds will assist with developing and manufacturing critical equipment and technologies, while creating 24 new jobs. Most of the funds are loans, with two non-repayable.

With more than 200 firms in the defence industry, Atlantic Canada delivers advanced shipbuilding, aircraft and engine maintenance, sonar and acoustic systems, training and simulation, ground vehicle technologies and cyber resilience, ACOA said in a statement. The region is home to nearly 10,000 direct aerospace and defence jobs, representing 20 percent of national defence industry employment.

The $379.2 million Regional Defence Investment Initiative is a three-year project delivered by Canada’s Regional Development Agencies. The new announcement is part of ACOA’s $38.2 million allocation over three years.  The news builds on the $997,000 RDII funding recently announced for New Brunswick-based Vimy Forge, a new defence-focused accelerator.

The recipients of the new funds are:

Sensor Technology: $1,300,000; 

Mathers Logistics: $956,250;

Salient Energy: $843,531;

AML Oceanographic: $387,500;

GALAXIA Mission Systems: $218,750;

Marine Thinking: $179,836;

Atlantic Hardchrome: $50,000;

L & M Highland Outfitters: $50,000;

And Leeway Marine: $45,000.

All of the contributions are loans, except those to Atlantic Hardchrome and Leeway Marine, which received grants.