Nova Scotia Premier Rodney MacDonald has offered to invest $2 million to keep the doomed Digby-Saint John ferry service afloat. 

The Princess of Acadia ferry is scheduled to make its last run on Oct. 31. Bay Ferries says it couldn't keep the service going with the high price of fuel and a 25 per cent decline in traffic.

On Wednesday afternoon, MacDonald told the Nova Scotia legislature that his province is willing to work alongside New Brunswick's government and Ottawa to help keep the ferry going.

The announcement comes just as nine Nova Scotia MLAs met with several of their New Brunswick counterparts in Saint John to look for ways to save the ferry service.

The nine MLAs sailed across on the Princess of Acadia ferry to the meeting in Saint John. They wanted people to know the link is essential for tourism and trade in their region.

If the shutdown goes ahead, it will result in the loss of 100 jobs and hurt local businesses. Both communities say the ferry is crucial to their economies, as it brings tourists who purchase local goods and services. 

The Liberal MLA for Digby-Annapolis, Harold Theriault, says his region has no train links and no commercial air service. He calls his stretch of Highway 101 a "cowpath."

Theriault is hoping New Brunswick's incoming premier Shawn Graham will endorse a plan to keep the ferry running.

Roly MacIntyre, Liberal MLA for Saint John East, says it's in New Brunswick's best interests to keep the ferry going.

"As a new government, it's certainly to our advantage to keep this important marine link open," he said. "It's almost like the Trans-Canada Highway. It plays a key role."

Bay Ferries took over the service from the federal government in 1997, but Ottawa still owns the boat and the wharfs where it docks, and will retain both when the run is cancelled.

The federal government is still reviewing whether it will provide funding to keep the service in operation.