Capital investments and productivity

Atlantic Canada’s Momentum is powered by CAPITAL INVESTMENTS AND PRODUCTIVITY

CAPITAL INVESTMENTS

Nearly 530 major capital projects, with investment values of over $225 billion.

Investment spending is expected to have reached nearly $15 billion in 2023, just below its record level.

With over 120,000 new residents over the last two years, spending on large housing developments in Atlantic Canada was expected to be nearly $900 million higher in 2023 than in 2019.

OPEN FOR BUSINESS

100 new companies launched as part of early-stage startup ecosystem every year for the last 5.

PRODUCTIVITY

Atlantic Canada’s labour productivity has been improving, growing by 0.7% on average from 2015 to 2022, after declining by an average of 0.2% over the 2008 to 2015 period.

Job growth in Atlantic Canada was 3.0% in 2023, above the Canadian increase of 2.4%.

Overall unemployment rates are at 40-year lows since 1976.

The unemployment rate in Atlantic Canada has been on a downward trajectory since 2020 and was 7.2% in 2023.

Unemployment rates in Moncton (5.6%) and Halifax (5.5%) were near the national average (5.4%)

in 2023.