ACOA slashes funding to about 50 economic authorities in four provinces

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HALIFAX - The Atlantic Canada Opportunities Agency says it is slashing funding to some 50 economic development organizations in the region.

The federal agency says the organizations were notified today that their core operational funding will be cut a year from now.

It's unclear much money the cuts will save ACOA and no one from the agency was immediately available for comment.

ACOA's website says the affected organizations are responsible for developing and driving economic development at a local level while working with all levels of government.

Bernard Valcourt, the minister responsible for ACOA, said in a statement that government services need to become more efficient and less costly.

Paul Kent, president and CEO of the Greater Halifax Partnership, says the annual ACOA funding for that organization amounts to about $165,000 of its roughly $3 million budget.

Kent says he's hopeful there will be no cuts among his 20-member staff.

Organizations: Atlantic Canada Opportunities Agency, Greater Halifax Partnership

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