The Economic Recovery and Growth Action Plan: Closing the Gap in One Generation, is a phased action plan to ensure post-pandemic recovery and economic development in New Brunswick.
Despite the COVID-19 pandemic, we all share a vision for a better economic future for the province. New Brunswickers have long understood the power of collaboration and the importance of working together. In fact, many local organizations like LuminUltra Technologies, Metalfab Fire Trucks, Day & Ross, PumpHouse Brewery, Mrs. Dunsters, Red Rover Craft Cider, Gray Wolf Analytics, and Bouctouche Bay Industries to name a few have all been resilient and community-focused in the face of the pandemic.
This action plan is a big step in the right direction towards building a “new” New Brunswick. It aims to close the prosperity gap with other Canadian jurisdictions. The goal is to put New Brunswick in a position where we will have the financial flexibility to tackle our health, social, and education challenges head-on.
In collaboration with many economic agencies, including Opportunities NB, the multi-year plan contains key policy actions created to address current and future economic challenges while also building on our province’s opportunities and achievements.
The action plan focuses on five strategic objectives:
- Increase private sector investment;
- Increase productivity;
- Diversify and grow exports;
- Increase immigration and repatriation;
- Grow New Brunswick’s GDP.
The Action Plan is a collaborative effort to stimulate the economy by supporting both traditional and emerging business growth across the province. It is crucial to the future success of our province that we take a whole-of-government approach and put the province in a position of strength by championing the needs of the business sector, so our economy can recover and grow.
This action plan strongly states that New Brunswick is open for business and embraces challenging targets to close the gap in one generation. This action plan will allow the business community to navigate faster within government with less duplication. With government departments, agencies, corporations, and stakeholders embracing the same goal, small and medium-sized businesses in every region of New Brunswick will be able to get the expertise and support they need to grow their operations, find new markets, and develop their export potential.
The Economic Recovery and Growth Action Plan is available online here.