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ACOA has a broad mandate for economic development in Atlantic Canada to increase the number of jobs and the earned income of Atlantic Canadians. Because new employment is the direct result of business growth, particularly among small and medium-sized enterprises (SMEs) ACOA seeks to provide people with encouragement, advice and information, and the capital and technology they need to start and expand their own businesses.
While ACOA has changed since its inception in June of 1987, its mandate has remained constant. Modifications have been made to its financial support programs for SMEs but, essentially, its vision for Atlantic Canada in terms of increased self-sufficiency and increased earned incomes is still at the heart of Agency operations.
This consistency has allowed ACOA to enjoy a measure of stability in its programming, as well as permitting Agency staff to remain focused on the tasks at hand.
To fulfill its mandate, ACOA pursues two distinct goals:
- to ensure that a wide variety of business development tools and resources serve the diverse needs of the region’s emerging and existing entrepreneurs; and
- to ensure that all economic development programs and activities in Atlantic Canada are coordinated and designed to improve the climate for business growth generally.
ACOA was established in 1987 by the ACOA Act tabled in Parliament.
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