The Halifax Shipyard's successful bid to build the next generation of Canadian warships is a proud moment for Nova Scotians, who can look forward to thousands of new jobs that will be generated by a rejuvenated shipbuilding industry, the deputy premier said Thursday.

Deputy Premier Frank Corbett said the $25 billion in federal contracts will create more than 11,000 jobs in Nova Scotia in the years ahead, giving stability to the provincial economy and providing more opportunities for its young people to build a future in their home province.

"It means a secure future for our shipbuilding industry here, it means a turnaround," Corbett told CTV's Canada AM from Halifax on Thursday morning.

"It means that many of our young women and men that have gone to other places to work will come back and have a life here in Nova Scotia and will add to our economy."

The federal government announced Wednesday afternoon that the Halifax Shipyard had won the chance to build Canada's next generation of naval ships, an opportunity that is expected to be worth $25 billion over the next 20 years.

The Halifax Shipyard had been competing for the opportunity with the Seaspan Marine Corp. of British Columbia and the Davie shipyard of Levis, Que.

Seaspan Marine Corp. came in second place in the competition, and was rewarded with the chance to build an estimated $8 billion worth of non-combat ships for Ottawa.

The third-place Davie shipyard will be eligible for $2 billion in smaller vessel contracts, but those have not been allocated yet.

Ottawa had gone to great lengths to make the competition process as open and unbiased as possible, using consultants to help evaluate the incoming bids for the massive shipbuilding contracts.

Corbett said he was proud to see the way that Ottawa handled the process and prouder still that Nova Scotia had ended up landing the most lucrative contracts.

"You know it was a proud day to be a Nova Scotian, it was indeed a proud day to be a Canadian," he said.

With files from The Canadian Press