Submarine deal is a ‘generational investment’ for Nova Scotia: premier

Canada's selection of German firm Thyssenkrupp Marine Systems (TKMS) to build 12 new submarines marks a significant "generational investment," particularly for the economically vital Atlantic region. Prime Minister Mark Carney announced the decision in Halifax, emphasizing that the deal necessitates TKMS matching the contract's value with investments within Canada.

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The first thing people are going to be observing will be groundbreaking stuff, new construction.

This agreement is projected to create substantial economic opportunities, with independent defense analyst Ken Hansen estimating around 15,000 full-time permanent jobs. Hansen, a former naval commander, highlighted that the project extends beyond submarine construction to include the development of supply centers and maintenance facilities, creating extensive supply chain involvement.

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So all 12 submarines won’t be based here. They’ll probably be split maybe 50-50 with the West Coast, but it’s going to mean construction, it’s going to mean new facilities for submarines alone.

While the final contract price remains undisclosed pending negotiations, a key condition ensures that Canadian industry benefits directly. The new submarines, expected to be delivered starting in 2033, will enhance Canada's stealth capabilities, Arctic operational capacity, and interoperability with NATO allies. South Korea's Hanwha Ocean was also a contender for the contract.

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I’ve used 15,000 full-time permanent jobs as an estimate. That’s just an estimate. There are others out there who are aiming much, much higher, for the full life of the program, like 600,000 man-day job hours.

Nova Scotia Premier Tim Houston welcomed the news, calling it an "extraordinary" opportunity for the province. Canadian tech company Gastops has already partnered with TKMS to support control system sustainment, signaling broader industry engagement. This submarine deal is poised to generate economic activity across Canada for decades.

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And that there are opportunities for decades ahead for businesses across the country from coast to coast and businesses of all sizes, small businesses like Gastops to medium and large-sized businesses.