Province of Manitoba - Budget 2007

Manitoba's Action Strategy for Economic Growth

Manitoba's Action Strategy for Economic Growth - (PDF size 391 k)

Introduction

Manitoba’s economic foundation is strong.

Chart The economy is growing steadily and unemployment rates are at a 30-year low. Housing starts, retail sales, manufacturing shipments and exports are all showing strong growth. Capital investment growth was second highest in the country in 2006.

Responsible financial management has earned Manitoba four credit rating upgrades since 1999. Manitoba’s net debt relative to GDP has been reduced and spending is being managed prudently. Within this strong fiscal foundation, the province continues to deliver positive results in the areas Manitobans have identified as important, including health care, education, water resources, roads and other infrastructure.

Chart The province’s population is growing and new steps are being taken to maintain and enhance this growth. International immigration has grown steadily, reaching 10,000 new immigrants in 2006, and Manitoba has committed to double the current immigration level over the next ten years.

Manitoba’s growing Aboriginal population is an important part of our economic future. Investments in education and training are delivering positive results: Aboriginal university and college enrolments are up, Aboriginal apprenticeship registrations have tripled since 1999 and Aboriginal off-reserve employment jumped by 30% between 2001 and 2005.

The critical youth segment of the population is also growing. Post-secondary enrolment has increased, and new initiatives such as the tuition tax rebate will encourage even more young people to choose Manitoba as the place to build their futures.

Revitalization in the province’s urban centres continues to inspire renewed optimism and investor confidence in a dynamic and vibrant economic environment. Housing values are up and education property taxes are down. New landmark buildings such as the popular MTS Centre and Manitoba Hydro’s state-of-the-art energy-efficient head office are transforming Winnipeg’s downtown. Manitoba’s spirit and energy are being captured in a campaign to tell the world that Manitoba is an exceptional place in which to live, work, visit and invest.

Rural Manitoba is benefiting from diversification, with significant expansion in areas such as value-added production, functional foods, and alternative energy – wind, ethanol, and biodiesel. The province’s rich natural resource base and continuing development of hydro-electric power is providing unparalleled skills training and employment opportunities for northern residents.

Text Image These successes have been supported by Manitoba’s Action Strategy for Economic Growth, which is based on recommendations provided by the Premier’s Economic Advisory Council (PEAC).

PEAC was established by the Premier following the successful Manitoba Century Summit, which brought together a broad cross section of community leaders from across Manitoba to develop a new economic strategy. Since its formation in 2001, this council of business, labour, Aboriginal, education and local community leaders has provided practical, action-oriented advice on a wide range of issues affecting the province’s economy.

The key elements of Manitoba’s Action Strategy are:

The seven-point action strategy was first released in 2003. It reflects the recommendations of PEAC and its task groups, which have focussed on specific economic opportunities. This document shows how the strategy continues to set the framework for strong economic growth in Manitoba and provide opportunity for citizens, entrepreneurs and investors throughout the province.