Think Ireland, think the American state of Georgia, then you’ll know what Atlantic Canada has to offer. A strategic location, with cost and workforce advantages that make it a prime choice for investment.
In the 1990s, Ireland enjoyed economic growth three times higher than that of Europe as a whole, while the economies of several southern American states doubled or tripled the United States average.
Today, Atlantic Canada is poised for that kind of performance.
THE ATLANTIC CANADA CHECKLIST
Gateway to NAFTA
Easy access to major North American markets
Two shipping days closer to Europe than any U.S. port
Excellent labour force
Canadian telecommunications leader
Low business costs
Abundant energy from diverse sources
Great lifestyle
Highly competitive business costs
Atlantic Canada offers the most competitive business cost environment among the G7 countries.
That's the word in the 2004 edition of “Competitive Alternatives: The CEO's Guide to International Business Costs” produced by KMPG. In fact, four of our major cities rank in the Top 10 cities in the world in which to do business.
With our lower cost of living, a paycheque goes a lot farther here. That means we have salary and wage levels that are significantly lower than those of other major North American regions. What’s more, employer fringe benefit costs (employment insurance, workers compensation) are also 15% lower than most United States locations.
On top of all that, consider the Canadian currency advantage - $1 U.S. is worth $1.33 CDN (KPMG 2004).
THE ATLANTIC CANADA
ADVANTAGE: YOUR BOTTOM LINE
Effective tax rate is 4.5% lower than the United States
2nd lowest average corporate taxes in the G7
Construction costs are among the lowest in North America
Low utility costs and insurance rates
Canada's R&D; tax incentives are some of the most generous in the world
Lower direct health-care costs
Competitive labour costs
Abundant secure energy
Atlantic Canada’s energy sector is
booming. With abundant sources of
energy, world-class researchers and
facilities, excellent transportation
infrastructure and low energy costs,
the region is a world leader in
energy production.
Atlantic Canada produces more
electricity than it needs, more than
14,000 megawatts. That allows us to
export more than half of our production
and keep our own costs down.
Our electricity production capacity comes
from various sources: thermal (including
natural gas and oil), hydro, nuclear, and
renewable sources like wind. That kind
of diversity spells energy security.
And electricity is just part of our
energy story.
Atlantic Canada is one of the fastest-
growing oil and natural gas exploration
and production sectors anywhere, with
major new facilities coming on-line
in 2004.
Two of our region’s cities were selected to
join the World Energy Cities Partnership:
Halifax, Nova Scotia, and St. John’s,
Newfoundland and Labrador.
Atlantic Canada is the only region in the world with two cities in this prestigious group.
Atlantic Canada is also home to three major oil refineries, including Canada’s largest: the Irving Oil Refinery in New Brunswick.
It recently went through a $1-billion upgrade and is the first oil company, Canadian or American, to receive the United States Environmental Protection Agency's Clean Air Excellence Award.
THE ATLANTIC CANADA ENERGY GRID: A SNAPSHOT
Atlantic Canada is a world leader in energy production, export and research
Electricity rates on average are 31% lower than those in the United States
Atlantic Canada has one of North America’s most diverse and cost-effective generating systems, with diverse energy sources and a secure supply
The region boasts North America’s fastest growing offshore oil and gas sector
Atlantic Canada’s electricity costs are the lowest of the G7 countries – on average, 31% lower than those in the United States.
Excellent workforce
Atlantic Canada has the type of employees you want – well educated, hard working and reliable.
Atlantic Canada has more university students per capita than any other region of Canada.
Add to that our other educational pluses:
More teachers per capita than any other region of Canada
One of the highest high school graduation rates in North America
An average of 38% more spent on vocational training than in Canada as a whole
A leading cluster of e-Learning companies
Sources: Statistics Canada; U.S. Census; U.S. Dept. of Education. English) for shared services functions
YOU’LL SEE WHAT WE MEAN BY SMART
We’re smaller in numbers. We have to work harder and smarter to compete.
Atlantic Canada has a diversified economy featuring a mix of knowledge-based, resource-based, manufacturing, technology and service industries.
Atlantic Canadian employees are loyal and dedicated. Their absenteeism and turnover rates are among the lowest in North America, so retraining costs are lower. On average, they stay with their employers 75% longer than do American employees.
Atlantic Canada
Canada
United States
Average Unemployment Rate in 2003
11.4%
7.6%
6.0%
Average Workforce Participation Rate in 2003
62.7%
67.5%
66.2%
Population in 2003 (as of July 1)
2.34 million
31.62 million
290.8 million
Sources: Statistics Canada; Bureau of Labor Statistics; U.S. Census Bureau
THE ATLANTIC CANADA LABOUR SNAPSHOT
Population: 2.3 million (2003)
Workforce: 1.2 million (2003)
Labour market participation rate of 62.7% (2003)
Over 15,000 university graduates each year
Over 26,000 community college and technical school graduates each year
More post-secondary graduates per capita than the Canadian and U.S. averages
Bilingual workforce (French and English) for shared services functions such as customer contact centres and software support
Among the lowest employee turnover and absenteeism rates in North America
Atlantic Canadian employees are loyal and dedicated. On average, they stay with their employers 75% longer than do American employees.
Close to major markets
With Atlantic Canada so close to major markets, shipping is easy. The North American Free Trade Agreement (NAFTA) ensures seamless and tariff-free shipment of goods and services from Atlantic Canada to over 416 million consumers living in the rest of Canada, the United States and Mexico.
HOW CLOSE?
Atlantic Canada is within a day’s drive of half of the entire North American population – connected by a four-lane highway that includes the Trans-Canada Highway and the northern terminus of U.S. Interstate 95. It’s a highway system that has benefited from more than $5.5 billion in new investment in the past five years.
Atlantic Canada’s four international airports offer dozens of daily flights to major destinations, while our air cargo-shipping infrastructure involves big names like FedEx, DHL, Emery Worldwide, Purolator and Kuehne & Nagel.
When it comes to shipping by sea, Atlantic Canada has got the rest of North America beat. We have year-round deepwater ports two days closer to Europe than any other ports on the eastern seaboard, whether it’s Montreal, Boston or New York.
THE ATLANTIC CANADA EXPORT EDGE
Exports from Atlantic Canada more than doubled in the last decade, reaching almost $20 billion in 2002.
More than 84% of exports go to the United States. Other major export markets include the United Kingdom, Germany, Italy, France, the Netherlands, Belgium, Japan, China and Brazil.
More than 95% of the region’s billion-dollar software support and customer contact centre industry services go to outside markets.
Atlantic Canada has a world-class transportation and shipping infrastructure. This includes some of Canada's fastest growing international airports.
A lifestyle that can’t be beat
People like living here. They like the
four-season activities, the natural beauty,
the welcoming smiles, the pace, the
peace and security.
That’s why we’ve been able to attract
thousands of managers, technicians,
engineers and skilled trades people over
the last decade.
They’ve come to Atlantic Canada to work
in the region’s growing industries,
including information and bio-
technology, business process outsourcing,
oil and gas and aerospace sectors.
They’ve come to enjoy life.
Here you’re never more than 15 or 20
minutes from the seashore, a lake or a
river. The morning commute is more
likely to be five minutes than 50.
Our houses are affordable, health care
is guaranteed, and our governments
focus on education.
THE ATLANTIC CANADA WAY OF LIFE
What’s not to like?
Housing – A bigger house, a cottage and a boat, all for the price of a house in larger urban markets
Education – public schooling from K–12, and more universities and colleges per capita than any other region of Canada
Golf courses – one of the highest concentrations of golf courses in North America
Parks/Ecotourism – more national parks per capita than any other Canadian region
Beaches – some of the warmest ocean waters north of the Carolinas
Four-season activities – from ice skating, downhill and cross-country skiing to hiking, biking, sea kayaking, sailing and world-renowned salmon angling
Indoor activities – theatres, festivals, museums, cinemas, urban entertainment centres, modern shopping centres and sporting events
Community spirit – volunteerism rates 24% above the national average; the highest charitable donation rate in Canada
The cost of living in Atlantic Canada is 25% to 65% lower than other major North American regions.
Atlantic Canada.A GREAT PLACE TO LIVE. A PROFITABLE PLACE TO DO BUSINESS.
In the 1990s, Ireland enjoyed economic growth three times higher than that of Europe as a whole, while the economies of several southern American states doubled or tripled the United States average.
Atlantic Canada’s energy sector is
booming. With abundant sources of
energy, world-class researchers and
facilities, excellent transportation
infrastructure and low energy costs,
the region is a world leader in
energy production.
Atlantic Canada has more university students per capita than any other region of Canada.
HOW CLOSE?
