Driving Growth: Inside New Brunswick’s Economic Strategy for 2030

On this week’s Insights podcast, Don and David are joined by the Honourable Luke Randall, Minister responsible for Opportunities NB (ONB), Economic Development and Small Business, NB Liquor and Cannabis NB  and Traci Simmons, Deputy Minister of Economic Development and Small Business and the Chief Executive Officer of ONB. The topic of the conversation is the Government of New Brunswick’s new Economic Development Strategy. The government wants to boost real gross domestic product (GDP) by 10 percent by 2030. Given the current context including a return to provincial population decline, increasing trade tensions with the United States, global competition for investment, an aging workforce and the rise of artificial intelligence, achieving this goal will be challenging. The conversation covers a wide range of issues including: how the province tends to foster a more productive economy, a return to population growth, diversification of trade, industrial opportunities including mining and energy, ‘investment-ready’ industrial sites and the new ‘Growth Office’.  Don and David also raise the issue of competitiveness at a time of rising energy and wage costs across the province.  Collaboration is another important topic including between various government departments and agencies and also with other provincial governments within Atlantic Canada.If you are looking for a primer on New Brunswick’s approach to economic development and population growth, this podcast is well worth an hour of your time.