Stewart McKelvey

ATLANTIC CANADA: POISED FOR GROWTH By Maureen E. Ryan C anada's Atlantic provinces hold ex- citing opportunities for business. Geographically, the region is a ship- ping centre offering inexpensive ac- cess to global markets. Its time zones provide same-day contact with West- ern European and North American markets, and its diverse natural resources form a strong base for har- vesting and manufacturing. Atlantic Canadian busi- nesses are uniquely positioned to leverage the region's location and resources for growth and success. Each of the four Atlantic Canadian provinces has its own unique economic composition. New Bruns- wick's natural resources are abundant. About 80% of the province is forested, with wood and wood prod- ucts constituting a vital part of the economy. Fishing, agriculture and mining are also important compon- ents. Leading manufacturing industries include food processing, pulp and paper, sawmills, oil refi ning and 2 SPRING 2011 DOING BUSINESS IN ATLANTIC CANADA metal processing. There has also been a recent infl ux of high-tech industries and tourism continues to be a signifi cant contributor to the economy. New Bruns- wick is Canada's only province where English and French are both offi cial languages. Nova Scotia's economy centres on natural resour- ces such as fi sheries, oil and gas, forestry and mining. Other major economic sectors include manufacturing and tourism. The province also has a highly special- ized commercial agriculture sector, of which dairy is the largest component. Export commodities include blueberries, apples and vegetables. In Newfoundland and Labrador, oil and gas, fi sh products, newsprint, mineral products and electricity account for most of the province's exports. However, the value of the services industry has been increas- ing in recent years due to growth in areas such as tourism, communications, business and computer services.

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