The 25th edition of APEC’s Major Projects Inventory identifies 425 major investment projects in various stages of development across Atlantic Canada. The total value of these projects is $84 billion, up 17% over last year’s Inventory.
 
However, much of this increase reflects higher cost estimates for several large projects. Costs have increased sharply for building materials, fuel and labour over the last 18 months. As a consequence, some projects are being delayed, others rescheduled, as some planners are looking to scale back their investment intentions. At the same time as developers face rising construction costs, the fall-out from the U.S. sub-prime credit crisis has made project financing much more difficult with higher risk premiums and tighter lending standards.
 
Despite these pressures, current-year investment spending on major projects in Atlantic Canada jumped 37% in 2008 as activity ramped up on several projects. APEC expects current-year capital expenditures to increase further in 2009 as long as several new projects move ahead on schedule.  
 
Looking further afield, several multibillion-dollar projects are currently being evaluated as developers conduct engineering and feasibility studies and negotiate local benefits with governments. Approval of these projects during the next two years would significantly boost investment activity in Atlantic Canada in the next decade.


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