NORTH VANCOUVER—B.C.’s government says it will spend up to $40 million to help a Vancouver ship-building company win a multi-billion dollar federal contract.

Seaspan Shipyards confirmed it was submitting a bid for the $35 billion in contracts to build navy warships, coast guard cutters and other vessels over the next 30 years.

The contract has been intensely sought by a number of Canadian ship-makers, including the troubled Davie Yards, which has been in creditor protection since February 2010 and SNC-Lavalin, which last week announced it had formed a joint-venture with other prospective buyers to improve its chances for the contracts.

If Seaspan lands the contract, the province will provide the company with $35 million in training and labour tax credits over 30 years.

“Our government is helping Seaspan submit the strongest possible bid and this investment focuses on job creation,” says Pat Bell, B.C.’s minister of jobs, tourism and innovation.

B.C. will also provide $5 million to support the productivity and long-term viability of the broader marine sector.

BC Ferries is pledging $20 million to improve the capacity of the provinces ship-repair and maintenance industry.

Check out these Canadian marine companies on FRASERS.