March 17, 1999
(Municipal and Provincial Affairs)

Matthews says KPMG report should be used to attract investment

Lloyd Matthews, Minister of Municipal and Provincial Affairs and MHA - St. John's North, said today that a recent report that places St. John's second among 64 cost-effective business cities in North America and Europe should be aggressively used in marketing the city to the world.

Mr. Matthews said that the study, carried out by world-renowned business consultants KPMG, is a valuable business marketing tool and should be used by the City of St. John's working cooperatively with the province to aggressively attract new business to the capital city.

He said: "In 1997, St. John's was named the top city in which to do business in North America and Europe. This year, the study was expanded from 42 to 64 cities including three in Japan and St. John's placed second, only 0.5 percentage points behind the top city. We have to take advantage of this study and use it to tell the world that we have competitive labour costs, a highly stable work force, a strong manufacturing base, a modern transportation network, low electricity costs, inexpensive available land and a strategic location situated between two of the world's largest trading blocs."

Mr. Matthews said the study, as a credible, independent report card, combined with the latest prediction by the Conference Board of Canada that Newfoundland and Labrador will lead all other provinces in growth for the second consecutive year, can be used to attract investment, create new jobs and generate new opportunities for the people of St. John's. He said he will be doing his part as one of the St. John's area MHAs to highlight the KPMG study and will be encouraging other stakeholders such as the St. John's Board of Trade, the Newfoundland Ocean Industries Association (NOIA), and the City of St. John's to market the capital city to potential investors and entrepreneurs as an excellent place to do business.

Media contact: John Doody, (709) 729-1983.

1999 03 17 1:05 p.m.