Premier touts burgeoning business growth in P.E.I. state of the province speech
Sarah MacMillan | CBC News | Posted: February 6, 2018 3:00 AM | Last Updated: February 6, 2018
Premier Wade MacLauchlan struck an overall positive tone in the annual address
P.E.I. Premier Wade MacLauchlan says the province has a lot to celebrate when it comes to the economy and business growth.
MacLauchlan delivered his annual state of the province address Monday evening at a Rotary Club event at the Delta Prince Edward hotel, focusing on the Island's business strengths, and what he'd like to see in the future.
Focus on growth
MacLauchlan highlighted several figures from Statistics Canada that indicate positive growth for P.E.I. He noted the province's nominal GDP growth from 2012 to 2017 is similar to the national rate, and ahead of the other Atlantic provinces.
"The point of this is not to do better than the other provinces, it's to really see how we're doing and to understand how we can make it continue," he said.
He also referenced statistics about population growth rates and full-time employment, noting that P.E.I.'s
There is a practice and a culture and a tendency to reinvest. - Premier Wade MacLauchlan
population is getting younger — something he says will be of benefit to the province in the future, particularly with the workforce.
"That is a big achievement for our province," MacLauchlan said.
Investing in industries
MacLauchlan gave several examples rooted in the lobster industry to illustrate some of what he considers the major strengths of P.E.I.'s economy. He said the industry is spread throughout the province, but because of P.E.I.'s small size, people from all over are still able to collaborate together.
He noted an increase in the number of lobster landings in the two last year, and an increase in sales. He also highlighted recent investments in cold storage capacity throughout the province, which he said has increased holding capacity for lobster by 80 per cent.
"In our main sectors, there is a practice and a culture and a tendency to reinvest," MacLauchlan said.
Training future workforce
Though most of the speech struck a positive tone, MacLauchlan also highlighted some areas where P.E.I. will face challenges in years ahead and will need to focus its attention.
One of the province's main challenges, MacLauchlan said, will be meeting workforce demands. He noted it is already a challenge to recruit workers for some industries, such as the service industry and construction.
"We have to be sure that we're encouraging our own people to be able to have the skills," MacLauchlan said. He also mentioned the importance of newcomers in the workforce.
"One of the ways in which we can be sure that we're attending to this, or making sure that we will have the workforce of the future, is to tell each other. And in particular to tell our young people that there are opportunities."