Economic Development Greater Moncton

Economic Development Greater Moncton
Name	Economic Development Greater Moncton
Formation	1970s
Type	Economic development agency
Headquarters	Moncton, New Brunswick
Region served	Greater Moncton

Economic Development Greater Moncton is a regional development agency serving the Moncton metropolitan area and surrounding communities in New Brunswick. The organization coordinates initiatives to attract investment, support small business growth, and promote workforce development across Dieppe and Riverview. It acts as a liaison among local stakeholders including municipal councils, provincial ministries such as the Government of New Brunswick, and national institutions like Innovation, Science and Economic Development Canada.

Overview

Economic Development Greater Moncton works with partners including the City of Moncton, City of Dieppe, Town of Riverview, the Province of New Brunswick, and regional chambers such as the Greater Moncton Chamber of Commerce to deliver programs spanning business incubation, export development, and foreign direct investment attraction. The agency promotes asset clusters recognizable in the region, linking resources from institutions like Université de Moncton and federal research bodies such as the National Research Council. It also coordinates with national trade promotion entities like Export Development Canada and economic development networks including the Atlantic Canada Opportunities Agency.

History and Economic Evolution

The region experienced early growth driven by the Intercolonial Railway of Canada and later the Canadian Pacific Railway, with Moncton historically known as a railroad hub and service center. Postwar industrial shifts saw a transition from rail and manufacturing to sectors influenced by policies from the Canadian federal government and the Province of New Brunswick promoting diversification. The rise of call centers in the 1990s allied Greater Moncton with global firms modeled on trends seen in places like Halifax, Nova Scotia and Kitchener, Ontario. Economic Development Greater Moncton evolved alongside municipal amalgamation trends and regional planning initiatives similar to those in Greater Sudbury and Sherbrooke, Quebec.

Key Industries and Sectors

Major sectors coordinated by Economic Development Greater Moncton include transportation and logistics tied to the Greater Moncton Roméo LeBlanc International Airport, information technology and business process outsourcing reflecting models from Bangalore and Dublin, Ireland, advanced manufacturing influenced by players comparable to Bombardier Inc. and Pratt & Whitney Canada, and health services connected with institutions like the Moncton Hospital and medical research at Université de Moncton. Tourism partnerships link to attractions and events akin to Magnetic Hill and festivals comparable to Montreal Jazz Festival or Calgary Stampede strategies. The agency also targets growth in financial services reflecting regional parallels with Saint John, New Brunswick and Québec City.

Workforce, Education, and Innovation

Workforce strategies are built with post-secondary partners such as Université de Moncton, New Brunswick Community College, and industry training programs modeled on collaborations like those between McMaster University and local manufacturers. Innovation efforts connect startups with incubation models inspired by MaRS Discovery District and Communitech, and involve funding mechanisms like those managed by Business Development Bank of Canada. Talent attraction campaigns reference migration patterns studied by institutions like Statistics Canada and workforce development frameworks from Employment and Social Development Canada.

Infrastructure and Transportation

Infrastructure priorities include road networks linking to the Trans-Canada Highway, rail services referencing CN (Canadian National Railway) and Via Rail Canada, and airport route development through partnerships with carriers like Air Canada and WestJet. Urban planning and transit coordination involve municipal departments such as the City of Moncton Transit and provincial transportation agencies comparable to New Brunswick Department of Transportation and Infrastructure. Utilities and broadband expansion partnerships take cues from national programs administered by Innovation, Science and Economic Development Canada and regional broadband initiatives across the Atlantic Provinces.

Investment, Business Support, and Incentives

Investment attraction leverages incentive tools used across Canada including tax credits analogous to the Scientific Research and Experimental Development Tax Incentive Program and regional supports from the Atlantic Canada Opportunities Agency. Business support services coordinate with organizations like the Greater Moncton Chamber of Commerce, Futurpreneur Canada, and local incubators emulating models such as Startup Canada. The agency promotes export readiness with assistance similar to programs by Export Development Canada and trade missions patterned after efforts by Global Affairs Canada.

Economic Indicators and Trends

Regional economic indicators monitored include employment metrics from Statistics Canada, population growth trends comparable to other fast-growing Atlantic urban centers like Charlottetown, Prince Edward Island, commercial real estate patterns akin to those in Saint John, New Brunswick, and sectoral performance tracked against provincial aggregates from the Province of New Brunswick. Recent trends show continued expansion in service industries, stabilization of manufacturing employment reminiscent of restructuring experienced in Woodstock, New Brunswick, and an increasingly diversified investment pipeline influenced by national capital flows tracked by institutions such as the Bank of Canada.

Category:Organizations based in Moncton Category:Economic development in Canada