The Government of Canada has announced new financial support to help businesses in Yarmouth modernize their operations, improve productivity, and expand into new markets. The funding, announced on April 8, 2026, is part of efforts to strengthen supply chains and support economic growth in a changing global environment.
A total investment of more than $1.2 million has been provided through the Regional Tariff Response Initiative. The announcement was made by Chris d’Entremont on behalf of Sean Fraser, who also oversees the Atlantic Canada Opportunities Agency.
The funding will support two local companies in Yarmouth as they upgrade their capabilities and explore new business opportunities. Novatec Braids Ltd. will receive $900,000 to purchase advanced equipment, increase manufacturing capacity, and improve product quality and efficiency. The company also plans to strengthen its marketing strategies to enter new markets and grow its customer base.
Meanwhile, Tri-Star Industries Ltd. will receive $375,000 to modernize its facility by introducing new equipment and digital technologies. These upgrades are expected to improve workflow efficiency, reduce operational costs, and enhance the company’s competitiveness within the domestic market.
Officials said the investments are aimed at helping businesses adapt to global economic changes by adopting modern technologies and building stronger supply chains. By improving productivity and expanding market reach, these companies are expected to create new opportunities for growth and support jobs in the region.
Government representatives highlighted that supporting local industries is key to maintaining Canada’s competitive position globally. They emphasized that programs like the Regional Tariff Response Initiative provide businesses with the tools they need to innovate and remain resilient during uncertain economic conditions.
The announcement reflects a broader strategy to strengthen regional economies across Atlantic Canada. By investing in innovation, infrastructure, and business development, the government aims to help companies not only survive but also thrive in an increasingly competitive global marketplace.
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