The Benefits of Being in Business in New Brunswick
Location Canada 2010
The business world discovered that New Brunswick is a great place to be, to make money, and prosper. According to KPMG global business consultants, labor and total operating costs are as much as 20 percent lower in New Brunswick than average costs across the G7. The province ranks first in KPMG's 2008 global report for lowest business costs on the Eastern Seaboard. Moreover, the "Intelligent Community Forum," based in New York, named not just one but two New Brunswick cities on its 2009 list of the world's "Top Seven Intelligent Communities."
Further, on July 1, the general corporate income tax rate in New Brunswick was reduced from 13 percent to 12 percent. It will continue to be lowered every July 1 until it reaches 8 percent in 2012 - the lowest in Canada.
And, energy is cost-competitive and reliable from multiple sources. Facility and land costs can be as much as 44 percent lower here than average cost across the G7. Financial incentives and tax credits are generous, tailor-made, low-risk, and negotiated quickly.
The New Brunswick economic development team can do the work for you. Take advantage of our tailored one-stop service packages, which include everything from fast-track permitting for building and construction to recruitment and employee training assistance, to long-term aftercare that supports your growth.
Your business will thrive here.
Billions of dollars are being invested in energy projects, signaling things are happening in the province. The potential impact of these projects is astonishing: thousands of new jobs, billions of dollars in provincial tax revenues, and in new investments in New Brunswick.
New Brunswick is the leading exporter in Atlantic Canada - 42 percent of Atlantic Canada's exports come from the province, with a value close to $10 billion.
The Conference Board of Canada is even bullish on the New Brunswick economy, predicting the province will lead the Canadian pack in economic growth this year. And it feels New Brunswick will lead the nation with a 0.9-percent increase in gross domestic product, outpacing the rest of the country.
The Canadian Federation of Independent Business reported that business optimism in New Brunswick is strongest among the Atlantic Provinces, at a healthy 66 barometer score, which sits in the middle of the pack nationally. What's more, 87 percent of New Brunswick businesses say the overall state of business is satisfactory or good.
Forward-thinking growth initiatives, such as the Benefits Blueprint that the province commissioned, are preparing us for major economic growth, ensuring benefits are maximized, and potential issues are mitigated in such areas as training and education, business and supplier development, infrastructure and work-force expansion.
You can be more productive here.
New Brunswick is the place to be for companies that need workers who are smart, creative, experienced, bilingual, extraordinarily loyal, and - most importantly - affordable. Loyalty is defined by their commitment to staying on the job; in New Brunswick that's an average of over eight years.
Nearly 60 percent of our working-age population has at least some postsecondary education, and one third of our workers are fluently bilingual in French and English. Aggressive population-growth strategies and managed-growth initiatives will ensure future employment needs are met.
Companies such as Xerox, UPS, TD Meloche Monnex, Imperial Oil, SNC-Lavalin, Stantec, Pattison Sign Group, CIBC, Barrett Xplore, CGI, GTECH, Sabian, RIM, Bosche Scientific, and Caris have all experienced the successes that come from investing in New Brunswick and New Brunswick workers.
You will be innovative here.
Innovation is a government priority in New Brunswick. Service NB, an award-winning world leader in online government services delivery, is a testament to this. In fact, Canada's National Research Council chose New Brunswick to establish its Institute for Information Technology (NRC-IIT).
Providing access to high-speed Internet to 100 percent of New Brunswick will solidify the province's reputation as a technology leader in Canada. Broadband access will be available to every New Brunswicker by July 2010.
You will be strategically placed here.
Locating in New Brunswick means you will be ideally positioned. You will have same-day access to 100 million consumers within a single day's haul. The U.S. Interstate-95 along with efficient rail, air, and sea connections, are right at our doorstep. New Brunswick's five ports permit inexpensive and convenient shipping of raw materials and finished goods through international waters.
Telecommunications is second nature to us. We were first in North America to deploy a 100 percent digital-switching network and first to have a province-wide fiberoptic network.
We have a diverse mix of energy generation, including Canada's largest oil refinery and its related petroleum byproducts, natural gas, wind, nuclear, electricity generation, hydro-electricity, biomass, and combustion. With substantial energy production capabilities, New Brunswick is poised to become one of North America's leading energy exporters.
You and your workers will be happier here.
Affordable housing, below-average energy and food costs, an unspoiled landscape, and healthy cultural institutions make anywhere in New Brunswick a fine place to live. In fact, both Fredericton and Moncton made MoneySense magazine's - Canada's best selling personal finance magazine - top-10 list of best places to live in Canada in 2009.
New Brunswick truly is a place where you can belong and be better. Living well for less buys New Brunswickers a whole lot more of their dreams: more recreation, more house, more vacations, more freedom, and more time for themselves. It's a great place to be.
And there is a bottom-line link between employees' well-being, their productivity, and your profitability. We invite you to discover for yourself the benefits of being in business in New Brunswick.
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