FREDERICTON (GNB) – Premier Brian Gallant announced more than $20 million for an economic competitiveness package to help the provincial economy work for all New Brunsickers as part of the annual state of the province address. During the address, Gallant focused upon growing the economy, supporting families, and improving educational opportunities.

“Through the multi-year economic growth plan, we are investing to grow the economy, provide youth employment, and help our businesses compete,” said Gallant.

As part of the multi-year economic plan, the provincial government will invest more than $20 million in the upcoming budget to help researchers, entrepreneurs and businesses compete on the local, national and international level. Initiatives include:

  • Increasing New Brunswick’s innovation capacity with additional funding for research and development, and business-driven innovation through support for start-ups, commercialization, and business scaling.
  • Enhancing the capital investment assistance program to support small businesses geared toward exports in upgrading their facilities to improve productivity and in getting their products to market.
  • Capitalizing upon opportunities to increase energy exports in the province.
  • Supporting the fish and seafood sectors by investing in, and leveraging, the Atlantic Fisheries Fund. This fund is designed to help producers take advantage of market opportunities created by the growing global demand for seafood.
  • Working with the forestry industry and the federal government to increase efforts to combat the threat of spruce budworm to the province’s forests.
  • Increasing tourism to New Brunswick by extending the tourism season and working with industry to implement the multi-year Tourism Growth Strategy, with the goal of increasing visitor spending to $2 billion by 2025.

“People are New Brunswick’s greatest asset,” said Gallant. “That is why your government has developed a multi-year economic growth plan, a family plan and 10-year education plans. We believe in the potential of all New Brunswickers which is why we are strategically investing to provide individuals, women, youth, seniors, families, workers, entrepreneurs and businesses the support they need to thrive.”