Nov. 8, 2023, FREDERICTON (GNB) – New Brunswick’s central region is experiencing significant economic success, according to Greg Turner, minister responsible for Opportunities NB and minister responsible for economic development and small business.
Turner said this is the result of strategic investments made by Opportunities NB in the region during the 2022-2023 fiscal year that are expected to generate over $34 million in new private sector investment and over $52 million in incremental export revenue growth.
He said the government is committed to supporting the growth and expansion of New Brunswick businesses.
“We are proud of the economic success we are experiencing, and that is thanks to a combination of New Brunswick’s world-class infrastructure, top-quality talent and industry-leading businesses that make our province a great place for businesses to grow and thrive,” said Turner.
These achievements were celebrated Tuesday at the New Brunswick Business Growth Summit in Fredericton. The summit was an opportunity for companies to learn from the best leaders, thinkers and entrepreneurs on how to expand and reach new markets.
During the last fiscal year, Opportunities NB provided $13.8 million to companies in the region, including Remsoft Inc., Measurand Instruments Inc., and Kognitiv Spark.
In September, Opportunities NB supported Profitual, a financial technology firm in Fredericton, with up to $140,000 in the form of a payroll rebate to create up to 30 full-time positions over the next three years. This expansion will support Profitual’s national and international sales growth and continued product development. It is estimated this project will contribute up to $2.8 million in direct provincial GDP.
“Profitual’s financial planning tools empower startups to effectively manage their finances, make informed decisions and drive sustainable growth,” said CEO and co-founder Raymond Fitzpatrick. “With Opportunities NB’s assistance, we will be able to grow our business further, remain competitive through development and enhancement of our products and services, and increase our national market share.”
Opportunities NB is a Crown corporation and the lead economic development agency for the province. It seeks to attract and support opportunities to stimulate the economy and create jobs by providing support services for businesses across the province.
Michel LeBlanc, communications, Opportunities NB, firstname.lastname@example.org.