Nova Scotia seeks $5M ferry subsidy from Maine
Nova Scotia’s provincial government is reportedly pushing for the state of Maine to provide the heavily subsidized Nova Star Cruises ferry a $5 million line of credit.
The Chronicle Herald reported that Nova Scotia’s economic development minister, Michel Samson, is seeking a meeting with Gov. Paul LePage to discuss the matter.
“I think it would be the responsible thing to do on behalf of Nova Scotians to see how we can find ways of developing partnerships and reducing the financial burden to Nova Scotians regarding the ferry,” Samson told the newspaper.
The sought meeting comes after Nova Scotia has provided the ferry service between Portland and Nova Scotia a total of $21 million in government subsidies that was originally supposed to be distributed over a seven-year period.
While the state of Maine has yet to aid the ferry, state officials have previously said they would help Nova Star Cruises obtain a $5 million line of credit. The Finance Authority of Maine has reportedly been working with the ferry on a deal that would involve FAME guaranteeing a part of a bank loan or giving a direct loan, the Bangor Daily News reported.
“Bottom line is we want to be helpful but can’t provide all the money, so are hoping to partner with others,” Norbert told the newspaper at the time.
The Nova Star ferry saw nearly double the number of passengers in July over the previous month, but the Portland-Nova Scotia service remains behind ridership expectations.
Read more
Nova Star spending $21M subsidy faster than planned
Nova Star ridership still behind expectations
Most Recent
Most Recent
Comments