Capital spending on major projects is expected to increase by 8% in 2021 to $10.5 billion after a significant drop in 2020 due to COVID-19, according to our ATLΛNTIC Atlantic Investment Outlook released this morning. This report summarizes the key findings of APEC’s 2021 Major Projects Inventory (MPI).
APEC’s 2021 MPI identifies 489 capital projects in various stages of development throughout Atlantic Canada, with a total value of nearly $150 billion, up 3% from last year’s Inventory. A major project is any capital project valued at $25 million or more.
Spending in most sectors is recovering from the lower investment in 2020. Housing and health care spending will be two of the biggest contributors to investment growth this year. Offshore oil and gas investment is expected to remain below last year’s level but remains the second most important sector for potential future investment.