In May, Marine Atlantic released this concept design for two new ferries that it expects to have operating by the summer of 2011.

Newfoundland and Labrador's business community is praising the federal government's promise to invest tens of millions of dollars to improve Marine Atlantic ferry terminals in Newfoundland and Nova Scotia.

The federal government announced Monday that it will spend almost $70 million to upgrade terminals in North Sydney, Argentia and Port aux Basques.

That came just weeks after other announcements that hundreds of millions of dollars will be spent to upgrade and modernize the Marine Atlantic fleet that carries passengers across the Gulf between the two provinces.

In total, the federal government has promised to spend more than a half a billion dollars on the ferry service.

"It seems to me that they got the message," said John Dicks of Hospitality Newfoundland and Labrador.

"I will say it's been a long time coming. It's been a hard-fought battle at a number of levels but it's really interesting to see the federal government recognize the important of doing something with the overall service of Marine Atlantic."

Derek Sullivan of the St. John's Board of Trade said the government is making a good decision.

"Investments in Marine Atlantic are smart investments in Canadian business and in infrastructure that is sorely needed to create a vibrant economic link between Newfoundland and Labrador and the rest of the country," said Sullivan.