February 22, 2012
Local and National Reports Emphasize Business Confidence
Company expansion as well as an increasingly positive climate for industry and community development have been highlighted in recent local and national reports.
“This is a time of excitement, optimism, and, most importantly, ambition for businesses in Newfoundland and Labrador,” said the Honourable Keith Hutchings, Minister of Innovation, Business and Rural Development. “Businesses are capitalizing on industry developments within the province and are confidently pursuing opportunities on the global stage. Recent local and national reports trumpet that spirit, which has been building in all regions of the province in recent years.”
Published reports by BMO Financial Group, the St. John’s Board of Trade, and the latest Canadian Census, capture the optimism in the province. Highlights of the recent reports include:
- BMO Financial Group described the mood of its customers in its Blue Book as being “definitely more optimistic than it was just six months ago.” It went on to note “that the province is becoming a key centre for innovation.”
- After 25 years of population decline, the Canadian Census confirmed an increase in the provincial population. That change is even more notable in Grand Falls-Windsor and Stephenville where new commercial and residential developments are attracting people to the communities and resulting in an increase in population.
- That predominantly all of those surveyed for a St. John’s Board of Trade survey reported that economic conditions were “good” or “excellent.”
“The theme is constant in each report,” said Minister Hutchings. “We are a high-growth province whose economy is becoming increasingly diversified. Companies operating in such industry sectors as aquaculture, ocean technology, film and television, advanced manufacturing, and many others are building their capacity to take on new opportunities in the local, national, and international marketplace.”
To sustain this progress, Minister Hutchings added that the Provincial Government is a committed partner of small and medium-sized businesses.
“The Provincial Government is a contributor to business growth,” said Minister Hutchings. “We want companies to be able to pursue global opportunities. That is why we offer business development programs, support workforce development, and are working aggressively to introduce youth to some of the innovative, exciting career opportunities that exist in Newfoundland and Labrador.”
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Media contact:
Scott Barfoot
Director of Communications
Department of Innovation, Business and Rural Development
709-729-4570, 690-6290
scottbarfoot@gov.nl.ca
2012 02 22 11:40 a.m.