- Maritime Launch Services (MAXQF, Financial) receives an additional $10.5 million funding approval under the CITC program.
- Total authorized infrastructure funding reaches $30.7 million for Spaceport Nova Scotia.
- Project is expected to create up to 30 new local jobs and strengthen Canada's space capabilities.
Maritime Launch Services Inc. (OTCQB: MAXQF) has secured approximately $10.5 million in capital investment tax credit approval from the Province of Nova Scotia. This funding is intended to support the construction of a dedicated launch pad for small launch vehicles at Spaceport Nova Scotia, enhancing Canada's sovereign space capabilities.
The latest approval brings the total authorized infrastructure support under the Capital Investment Tax Credit (CITC) program to $30.7 million. The CITC offsets 25% of eligible capital expenditures, with a maximum benefit of $100 million, focusing on driving economic growth in rural regions.
"This support from the Province sends a clear message to the global space industry that Nova Scotia is open for business," said Stephen Matier, President and CEO of Maritime Launch. "We are building the foundation for Canada's commercial space sector, bringing jobs, innovation, and global investment to rural Nova Scotia."
The development of the launch pad will include critical infrastructure such as flame diverters, propellant systems, and power systems. Spaceport Nova Scotia is anticipated to create up to 30 jobs in areas including technical, operational, and maintenance roles.
Nova Scotia Premier Tim Houston emphasized the initiative's impact on the local economy, noting that the spaceport will attract high-tech companies and help diversify the local economy by positioning Nova Scotia as a global destination for space and satellite companies.
