Province Invests $4 Million in St. Lawrence Spaceport Complex

The Government of Newfoundland and Labrador is investing $4 million to support continued development of NordSpace’s Atlantic Spaceport Complex (ASX) in St. Lawrence, helping to create high-skilled jobs, attract private-sector investment and strengthen economic opportunities throughout the province.

This investment is part of a broader $10 million project that also includes a $1-million contribution from the Government of Canada through the Atlantic Canada Opportunities Agency (ACOA) and a $5 million investment by NordSpace.

The Atlantic Spaceport Complex is expected to host Canadian-built commercial space-launch vehicles and support the growth of Canada’s emerging commercial space sector.

The Government of Newfoundland and Labrador’s investment consists of a $1-million term loan and a $3-million forgivable loan tied to the creation of 100 new full-time permanent positions by 2033. This support reflects the province’s commitment to attracting investment, creating high-skilled employment opportunities, supporting local and provincial supply chains, and generating new opportunities for Newfoundland and Labrador businesses in a rapidly growing global industry.

As Canada seeks to strengthen its sovereign space capabilities, the Atlantic Spaceport Complex will position Newfoundland and Labrador as a strategic asset within the country’s aerospace, technology, and advanced manufacturing sectors. Newfoundland and Labrador is built for defence. Its unique geographic location, strong industrial base, and world-class technology and innovation ecosystem provide a competitive advantage in advancing Canada’s defence, security, and sovereignty objectives. The project builds on these strengths, reinforcing Newfoundland and Labrador’s growing role in supporting Canada’s defence priorities as profiled on builtfordefence.ca.

The Atlantic Spaceport Complex is expected to strengthen economic activity in the St. Lawrence region while helping diversify the provincial economy through growth in a high-value industry with global market potential.

Quotes

“Newfoundland and Labrador is geographically positioned to play a strategic role in Canada’s defence industrial strategy, including the need for a sovereign space launch capability. Through this investment, we are supporting a project that will create high-skilled jobs, attract private-sector investment, and open new opportunities for businesses and suppliers throughout our province. The Atlantic Spaceport Complex will help diversify our economy and strengthen the province’s presence in a rapidly growing global industry.”

Honourable Lin Paddock

Minister of Jobs, Growth and Rural Development

“Countries around the world are moving quickly to build their own space capabilities, and Canada cannot afford to be left behind. Space is becoming more important to our economy, our security and our sovereignty. By investing in NordSpace, we are helping build Canadian launch capacity, attract private investment to Newfoundland and Labrador and create highly skilled jobs in a global industry expected to reach $2 trillion by 2040.”

Honourable Sean Fraser PC, KC

Minister of Justice and Attorney General of Canada and Minister Responsible for the Atlantic Canada Opportunities Agency

“This investment in the Atlantic Spaceport Complex is a major moment for Canada. It is about more than building a spaceport; it is about building a future where a sovereign Canada leads in space exploration and innovation, with critical national infrastructure to launch Canadian vehicles, from Canadian soil, carrying Canadian payloads. NordSpace is building Newfoundland and Labrador into Canada’s gateway to space, launching satellites on Canada’s own terms to support farmers, predict wildfires, connect remote communities, and monitor wildlife across our great nation. This investment will create new economic opportunities while bolstering our national defence. We are grateful for this support from the Atlantic Canada Opportunities Agency and the Government of Newfoundland and Labrador.”

Rahul Goel

Founder and CEO, NordSpace Corporation