Dexter says loan to Halifax Shipyard was ‘most lucrative investment’ N.S. has ever made
Former Nova Scotia premier Darrell Dexter said the province put a "full-court press" on to convince the federal government to award the national shipbuilding contract to the Halifax Shipyard and he says it was.
In an interview with CTV Atlantic on Monday evening, Dexter says $260-million forgivable loan made to the Irving-owned Halifax Shipyard was a good investment.
"It is turning out to be the most lucrative investment that the province had ever made," Dexter said. "Just the return on that money in terms of its impact on the GDP."
The former premier could not confirm whether the loan had been forgiven or if the Irvings had delivered on the creation of thousands of jobs that were the target that needed to be met for the loan to be forgiven.
"Once you leave politics, you don't get to know," Dexter said.
Ten years ago Tuesday, the Irving Halifax Shipyard was chosen as lead contractor for the federal government's national shipbuilding strategy, winning a $25-billion contract to build arctic offshore patrol ships and a new generation of surface combatants for the Canadian Navy.
The federal contract promised thousands of jobs and 20 to 30 years worth of work.
"We said early on that this was the, you know, this is the industrial opportunity of a generation," Dexter said at the time.
On Monday, Dexter said the motivation to lobby Ottawa was based on a history of military contracts being awarded for political reasons and Nova Scotia thought that if it was based on merit, the Halifax Shipyard stood a very good chance of being the lead contractor.
"We were worried that there might be considerations outside of just who was going to be the best," Dexter said.
When he looks at the number of people employed there now, he says he's confident the right decision was made.
"I'm not sure exactly what the numbers are down at the yard these days, but I think it's about 1,200 people," Dexter said.
Dexter says Oct. 19, 2011 was one of his best days as premier.
"It was a great day," Dexter said. "My father worked in that shipyard and so I knew the importance of the that yard to many families."
You can watch the full interview here.
CTVNews.ca Top Stories
Spectacular aurora light show to be seen across Canada Friday night
A rare and severe solar storm is expected to bring spectacular displays of the northern lights, also known as aurora borealis, across much of Canada and parts of the United States on Friday night.
Town of Fort Nelson, B.C., ordered to evacuate due to wildfire
The entire town of Fort Nelson, B.C., as well as the nearby Fort Nelson First Nation, has been ordered to evacuate due to an out-of-control wildfire.
Snowbirds in Vancouver for puck-drop flyby as Canucks face Oilers
The Canadian Forces Snowbirds will be performing a flyover across downtown Vancouver at the start of tonight's Stanley Cup playoff game between the Canucks and the Edmonton Oilers.
McGill University seeks emergency injunction to dismantle pro-Palestinian encampment
McGill University has filed a request for an injunction to have the pro-Palestinian encampment removed from its campus.
Which Canadian cities have the highest and lowest grocery prices?
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
Swarm of 20,000 bees gather around woman’s car west of Toronto
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
Video shows naked raccoon catching B.C. family by surprise
When Marvin Henschel spotted a strange and hairless creature wandering through a front lawn in B.C.'s Lower Mainland, he could barely believe his eyes.
Barron Trump declines to serve as an RNC delegate
Former U.S. President Donald Trump's youngest son, Barron Trump, has declined to serve as a delegate at this summer’s Republican National Convention, according to a senior Trump campaign adviser and a statement from Melania Trump's office.
Out-of-control wildfire prompts evacuation alert for Fort McMurray, Saprae Creek Estates Friday night
An evacuation alert was issued for two Wood Buffalo communities Friday night, as crews battled an out-of-control wildfire near Fort McMurray.