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[Major Projects Inventory 2020] COVID-19 Slows Investment in Atlantic Canada

Date: July 15, 2020

APEC has identified 458 major capital projects in Atlantic Canada with a potential value of $144 billion.

APEC was expecting capital spending to grow in 2020 in Newfoundland and Labrador, Prince Edward Island and Nova Scotia, with a modest decline in New Brunswick. Our previous forecast for major projects spending in 2020 for Atlantic Canada was $12.5 billion. Our revised estimate is $9.2 billion, a drop of 26%. This reflects the combined effect of COVID-19, along with the plunge in oil prices on investment in Newfoundland and Labrador. 

Investment is expected to bounce back by 17% in 2021 but will remain about 8-10% below pre-COVID-19 levels. There is considerable downside risk to the forecast that will depend on the duration of the impact of COVID-19 on the regional and global economy. 

Please note - APEC's Major Projects Inventory and short commentary on Major Projects Investment for 2020 is only available to APEC members as part of their member benefits.

Members log in here for access. 

Not a member? To access this report, and other member-only analysis, click here to become an APEC member.

About the Inventory 
APEC’s Major Projects Inventory (MPI) is a unique source of detailed intelligence and analysis on Atlantic Canada’s largest investment projects. Developed through a combination of research and interviews with the principals behind the region’s largest development initiatives, the MPI is not available from any other source. This publication has become a must-read for leaders seeking a competitive edge for planning, forecasting and project leads. In addition to the update of the 400+ projects that have the potential to reshape the region and drive economic development, APEC provides a short analysis on Major Projects in Atlantic Canada. 

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