Government of Newfoundland and Labrador

Newfoundland and Labrador Business
Department of Innovation, Business and Rural Development

t 1800.563.2299 e w

it's happening here.

It's Happening Here

Alive with opportunity. Bursting with uncommon potential. Newfoundland and Labrador is a place of dramatic natural wonder, with storied and colourful history and a strength of character unlike any other. The people of this province are fiercely proud of, and connected to, this place. And now, more than ever, we are poised to welcome the world, to blaze new trails in business and industry, and to forge the sort of partnerships that have come to define our rebust economy.

Economic Momentum

In the midst of the worldwide economic downturn, Newfoundland and Labrador advanced against the tide, with a series of strategic capital investments set to top the $8 billion mark. There is an unprecedented economic momentum at work here.

  • 2009: Our industrial development accounted for close to half of the total dollar value of all the major projects in the Atlantic Provinces combined.
  • 2010: Our overall economic growth is the highest in the country, with a rise in GDP of 5.6%
  • 2011: Our capital investment is forecasted to reach $8.3 billion in 2011, a 27.2% increase over 2010.