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Quick New England Facts Includes the states of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. Total population of 13.5 million. Urban population of 11.3 million (84% urbanization rate). Real per capita personal income in 1998 was $28,250 (1992 US$). Three New England states rank among top seven states in terms of real per capita personal income, including Massachusetts (first), Connecticut (third) and New Hampshire (seventh). Daily flights from St. John’s to Boston and St. John’s to Hartford.  Labour force growth was 0.6% in 1999, compared to 4.1% for this Province.

 

Trade and Investment Events 2000 New England trade seminars offered throughout the Province. Attendance at Bio 2000 (biotechnology trade show in Boston, March 25-28, 2000).  Participation in Team Atlantic Trade Mission to Connecticut, Massachusetts and Rhode Island (joint with other Atlantic provinces, May 7-12, 2000). New England Food Promotion 2000 in Boston (March 27, 2000). Enviro Expo in Boston (May 2000).

 

Trade with New England is increasing. 
Key exports from this Province 
include iron ore, newsprint, refined 
petroleum, crude oil and fish products.

 

Quick Labour Force Facts The Province had stronger labour force growth (4.1%) in 1999 than New England (0.6%). There was minimal growth in the labour force in Massachusetts and a slight decline in Connecticut. The Province had a faster rate of employment growth (5.5%) in 1999 than New England (0.8%). There was minimal employment growth in Massachusetts and a slight decline in Connecticut. New England is experiencing virtually full employment and had an unemployment rate of 3.3% in 1999. The unemployment rate for the Province in 1999, for those workers with a post secondary certificate or degree was 12%. This indicates that the Province has a relatively large and available skilled labour pool. The Province’s hourly manufacturing wage rate (CAN$13.86) is competitive with that of New England (US$14.34).

New England Trade
and Investment Strategy

The Province is targeting the New England States to expand its reach and reputation as a leading exporter of goods and services and as an attractive business location. The Province feels it is timely to introduce a strategy targeting this area, because both the New England region and Newfoundland and Labrador are experiencing growth at rates faster than their respective national averages. The Province is devoted to the strategy for the long-term and is committed to new and exciting business promotion in the New England market place through initiatives to help match local companies with growth opportunities in the region.

Government, through the Department of Industry, Trade and Technology, recently announced the New England Trade and Investment Strategy. This forward-looking strategy is designed to optimize export opportunities and attract investment from the New England States with a view to creating jobs and wealth in Newfoundland and Labrador. Initially, the focus of the strategy will be Massachusetts and Connecticut. 

Why New England?
Increasing business costs, full employment, and the lack of an available skilled workforce are forcing many New England-based firms to import goods and expand operations to other jurisdictions. A cost-effective business environment, and an available and well-trained work force will allow Newfoundland and Labrador to take advantage of these opportunities in 2000 and beyond.

KPMG Investment Surveys
The Province is actively seeking investment from New England firms. Both the 1998 and 1999 KPMG surveys indicated that St. John’s is one of the most cost-effective places in the world to do business, ranking ahead of Boston and five other Canadian locations near the New England region, including Halifax, Moncton, Charlottetown, Montreal and Toronto. St. John’s placed second overall in the 1999 survey and first overall in 1998. The study calculated total business costs, including location-sensitive costs such as labour, electricity, taxes and transportation, for seven manufacturing industries (electronics, telecommunications equipment, medical devices, food processing, plastic products, metal fabrication, and pharmaceuticals) and two software industries (advanced software and packaged software).

Targeted Sectors
The Province is focusing its efforts on key industry sectors in the New England region including information technology, environmental products and services, biotechnology, manufacturing, and consumer goods. Pending future development, New England is also a potential market for natural gas.

The New England Trade and Investment Strategy is based on a partnership approach between the provincial and federal governments, the private sector, and industry associations to maximize trade and investment opportunities. The goal is a new and exciting business promotion in the New England marketplace through trade missions, promotional campaigns and other planning initiatives.