A clear sector advantage
New Brunswick’s financial sector, including financial services and fintech, includes more than 5,000 establishments, with more starting up or locating to the province every year. National and international organizations alike are attracted by advantages such as the province’s strategic nearshore location, stable economy, and customized training support offered through partnerships with local universities and colleges.
Financial Services is an employment-intensive sector: it is estimated that every 500 additional jobs in this sector boost GDP by $30 million and GNB tax revenue by $3 million.
This sector brings high paying, skilled jobs with companies like TD, one of Canada’s largest banks, which just announced plans to launch a corporate office in Greater Moncton. Its new financial shared services centre will create up to 440 jobs.
The province’s financial sector also benefits from colocation with the most vibrant cybersecurity sector in Canada. New Brunswick is also home to CyberNB, an initiative aimed at innovation, research, and industry collaboration with a strong focus on the financial services sector.