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Dieppe, NB, June 24, 2024

In February the New Brunswick Business Council (NBBC) commissioned David Campbell of Jupia Consulting to perform an analysis of the province’s export and manufacturing sectors, its historical impact and its declined position in today’s economy. Mr. Campbell presented the findings of the report before nine of the province’s leading business and economic development agencies. 

These include:

  • The Conseil économique du Nouveau-Brunswick.
  • The province’s leading chambers: Saint John Region Chamber of Commerce, the Fredericton Chamber of Commerce, the Chamber of Commerce for Greater Moncton.
  • The leading economic development agencies: Envision Saint John: The Regional Growth Agency, Ignite Fredericton, Economic Development: Southeast Regional Service Commission 
  • Canadian Manufacturers & Exporters. 

Mr. Campbell’s Report, Growing the export economy: Key to New Brunswick’s future prosperity (NBBC Campbell Report), is a call to action for government and the private sector that business investment is vitally needed to improve productivity in our export and manufacturing sectors. The NBBC is concerned by the state of the provincial economy. Economic growth has been lackluster in recent years and private sector investment is insufficient to foster growth. 

“The Council is troubled by the ongoing absence of discussion on economic issues within the public discourse, which, in part, caused the Council to engage Jupia Consulting to undertake this work,” stated Denis Caron, CEO of the Port of Belledune and next Chair of the NBBC . 

The NBBC Campbell Report provides key data points on the state of the NB Economy as well as a number of key recommendations. The Report’s findings conclude that significant capital expenditures (capex) in equipment, robotics, and digitization is required for New Brunswick to return to a competitive position that addresses the province’s deficit in trade.  

The Council and the nine business and economic development groups who support the messages found in the NBBC David Campbell Report, are concerned by the underlying challenges within the economy. These challenges are masked by the growth in population and the accompanying Federal transfers from equalization that are allocated on a per capita basis, meanwhile, private sector growth is lacking,” stated Blair Hyslop, Co-CEO of Mrs. Dunsters.   

Mr.Hyslop added: “The report though is just the start of the conversation, it is meant as a vehicle to start conversations around the findings and create dialogue about how we can collectively, industry and government and agencies, focus on GDP growth In the province. The conversation is just beginning. We see this an opportunity to amplify the good efforts of ONB and others and to create a better New Brunswick.” 

The ten highlights from the Report are found below. The Council, and its partners, however agree that the province to needs to accelerate its efforts on item 9 to support existing industries in the short term. 

For further information: New Brunswick Business Council, 506-650-1372

Denis Caron, CEO Port of Belledune, 506-522-8048

Blair Hyslop, Co-CEO of Mrs. Dunsters,  506-343-4335 

Report highlights

  1. For nearly two decades, the public sector has been growing faster than the private sector in New Brunswick. 
  1. Average annual private sector economic growth dropped from an average of 3.3% from 1997 to 2006 to only 0.5% over the next 17 years through 2023.  
  1. A main reason for the weak private sector has been weak exports growth.  The trade ‘deficit’ in New Brunswick is now in excess of $8 billion (the value of imports exceeds exports by more than $8 billion).  Between 1980 and 2005, New Brunswick’s trade position was essentially even.
  1. Over the long term, exports growth in New Brunswick is highly correlated with private sector economic growth.
  1. Business investment is also well below the long run average in New Brunswick with specific industries such as food manufacturing, fishing, transportation and utilities considerably under-investing compared to their peers across the country. 
  1. Many of these same industries are considerably less productive than their peers across the country and in the United States. 
  1. The workforce in New Brunswick is growing again but there is still some misalignment between supply and demand particularly with immigrants to the province. 
  1. Other jurisdictions are spending a lot more money on economic development.  New Brunswick ranks 10th among the provinces for subsidies to industry relative to economic output. 
  1. To support existing industries in the short term, government should 1) create an investment tax credit for companies that invest in automation  and  digitization; 2) ensure there is an accelerated path for employers to recruit specialized workers from outside the country and 3) match the housing incentives that other Maritime Provinces are using to stimulate housing development.
  1. In addition to supporting the growth of local firms, the provincial government should be looking at new economic opportunities that could have a significant GDP, income and tax impact similar to growth industries of the past.  These could include mining, green energy, AI/data centres and other opportunities.
To read the full report, click here.

The New Brunswick Business Council (NBBC) is concerned by the state of the provincial economy. Economic growth has been lackluster in recent years and private sector investment is insufficient to foster growth. 

In February the NBBC commissioned David Campbell of Jupia Consulting to perform an analysis of the province’s export and manufacturing sectors, its historical impact and its declined position in today’s economy. TheNBBC’s Campbell Report is a call to action for government and the private sector that business investment is vitally needed to improve productivity in our export and manufacturing sectors.

“The Council is troubled by the ongoing absence of discussion on economic issues within the public discourse, which, in part, caused the Council to engage Jupia Consulting to undertake this work,” stated Denis Caron, CEO of the Port of Belledune and next Chair of the NBBC .

On Thursday, David Campbell will present the findings of the NBBC’s Campbell Report before the province’s nine leading business and economic development agencies. 

These include: 

  • The Conseil économique du Nouveau-Brunswick.
  • The province’s leading chambers: Saint John Region Chamber of Commerce, the Fredericton Chamber of Commerce, the Chamber of Commerce for Greater Moncton.
  • The leading economic development agencies: Envision Saint John: The Regional Growth Agency, Ignite Fredericton, Economic Development: Southeast Regional Service Commission
  • Canadian Manufacturers & Exporters.

The NBBC Campbell Report provides key data points on the state of the NB Economy as well as a number of key recommendations. The Report’s findings conclude that significant capital expenditures (capex) in equipment, robotics, and digitization is required for New Brunswick to return to a competitive position that addresses the province’s deficit in trade.  

The fact that the province’s nine leading business and economic development groups are united behind the messages found in the NBBC David Campbell Report, is a strong signal that our economy has underlying challenges. These challenges are masked by the growth in population and the accompanying Federal transfers from equalization that are allocated on a per capita basis, meanwhile, private sector growth is lacking,” stated Blair Hyslop, Co-CEO of Mrs. Dunsters.  

David Campbell will present the findings of the NBBC Campbell Report at 10:30 am at Malley Industries, 1100 Aviation Avenue, Dieppe NB. The full Report will be available at that time.

For further information: New Brunswick Business Council, 506-650-1372

Denis Caron, CEO Port of Belledune, 506-522-8048

Blair Hyslop, Co-CEO of Mrs. Dunsters,  506-343-4335

FREDERICTON, N.B., Nov. 15, 2023 – The New Brunswick Business Council (NBBC) is pleased to announce John Herron has been named its President and Chief Executive Officer, effective November 7, 2023.

“We are very excited to welcome John as our new President and CEO,” said Andrea Feunekes, Chair of the NBBC Board of Directors and CEO of Remsoft, a forestry software company. “John’s extensive experience working at the intersection of the public, private and non-profit sectors will be very valuable in helping us bring positive change to New Brunswick.”

The NBBC is a non-partisan group of leaders and CEOs committed to ensuring New Brunswick meets its full potential. It collaborates with business, government and community partners to find meaningful, fact-driven solutions to the province’s challenges.

MONCTON—The New Brunswick Business Council (NBBC) partnered with the Atlantic Canada Opportunities Agency and the Government of New Brunswick to announce 1.6M in funding for a new provincial non-profit housing development organization called the Housing Hub of New Brunswick (HHNB).

The HHNB is being created to develop housing to support workforce attraction, population growth, and other local needs in rural and smaller communities across New Brunswick.

Andrea Feunekes, CEO of Fredericton-based Remsoft, has been named the new Chair of the New Brunswick Business Council.

Feunekes has earned a reputation as one of New Brunswick’s top CEOs. Under her leadership, Remsoft has become a world leader in optimized planning and scheduling for sustainable land-based asset management. From its base in Fredericton and through its Brazilian subsidiary as well as offices in Ontario and New Zealand, the company serves clients on six continents, collectively managing over half a billion acres of land.

On January 19, 2022, New Brunswick Business Council President and CEO Alex LeBlanc spoke on behalf of the Council with the New Brunswick Legislature’s Standing Committee on Climate Change and Environmental Stewardship.

In his remarks, Mr. LeBlanc stressed that the Councils’ membership – made up of 29 leaders of major New Brunswick-based enterprises – believe firmly in the reality of climate change and support taking climate action to ensure the sustainability and vibrancy of our province for future generations. They also believe that we must apply a competitiveness and economic lens to policy making, ensuring a managed transition to a low-carbon economy, where cost competitiveness, taxes, investment incentives, and other supports are competitive with other jurisdictions in Canada and internationally. 

The movement to establish an “Atlantic Investment Bubble” – a regional equity tax credit aimed at boosting interprovincial investment in Atlantic Canada – is picking up steam. Here are some recent commentaries by business leaders across the region:

“An Atlantic Investment Bubble will help companies grow and create jobs” - Commentary by Blair Hyslop, New Brunswick Business Council Member and Co-CEO of Mrs. Dunster’s Bakery, in Huddle.Today.

“Atlantic Investment Bubble would grow jobs, create opportunity on home front” – Commentary by Paul LeBlanc, CEO of 7th Wave Capital, in the Chronicle Herald.

“Seizing opportunity with an Atlantic Investment Bubble” – Commentary by Rory Francis, CEO of the Prince Edward Island BioAlliance in the Charlottetown Guardian.

Creating a more vibrant business environment in New Brunswick is one of the top priorities of the New Brunswick Business Council. We know that access to capital is a recurring challenge for many businesses, and based on considerable discussion and consultation, the Council has been a key player in the movement to create an “Atlantic Investment Bubble”, an equity tax credit designed to complement the existing provincial equity tax credit programs found in the four Atlantic province.

Many high-growth businesses in Atlantic Canada operate from a regional perspective, driven by the need to access larger markets, skilled employees, mentors and advisors. This regional tax credit will catch public policy up to this reality, encouraging greater interprovincial investment within the region and making it easier for businesses to raise capital to fuel the growth that leads to new jobs and new tax revenues.

As part of the New Brunswick Business Council’s goal of fostering public discourse about the best ways to responsibly and sustainably grow the New Brunswick economy, we joined the chambers of commerce of Moncton, Fredericton and Saint John as well as the Conseil économique du Nouveau-Brunswick and the Canadian Manufactures & Exporters to provide recommendations to federal political parties and candidates about the steps needed to ensure our economy and our communities prosper.

New Brunswick and the rest of Atlantic Canada face a unique set of challenges and opportunities as we seek to encourage job creation and growth. We wanted to take advantage of the election to be sure that New Brunswick’s message was heard loud and clear by those who seek to govern.

The New Brunswick Business Council (NBBC) is throwing its support behind the federal investment in child care and early learning as both an economic necessity, and a building block for a healthy, vibrant and inclusive society.

“Affordable and accessible child care will give thousands of women in New Brunswick the opportunity to participate in the workforce, which is a win for households; a win for the New Brunswick economy; and, a win for employers looking for talent” says Alex LeBlanc, President and CEO of the NBBC. “Finding and attracting labour is the biggest challenge facing New Brunswick employers and we expect this to continue into the future.”

SAINT JOHN, N.B. – New Brunswick Power (NB Power), Moltex Energy, and Advanced Reactor Concepts, the parent company of ARC Nuclear Canada Inc. (ARC Canada), are pleased to announce that they have signed a Memorandum of Understanding (MOU) to work collaboratively together to find synergies by establishing a small modular reactor vendor cluster in New Brunswick. The MOU establishes plans to pursue collaboration in areas such as supply chain development activities, shared technology education and trades initiative, and common research and development activities.

Ten economic development, business, and community development organizations from across New Brunswick will present a virtual conference and podcast series designed to reimagine New Brunswick in a post-pandemic world.