Major project investment remains weak in 2007 but there are signs that construction activity is on the rise in Atlantic Canada with a number of significant mega-projects moving forward this year and new large scale projects proposed. A combination of strong demand for energy and mining products, high commodity prices, accessible resources and a favourable geographic location are driving investment opportunities in the region. The expected increase in construction activity may stem some of the westward migration of trades people, but the next decade will be challenging from an human resource perspective as increased demand for skilled labour runs up against weak population and labour force growth.
APEC’s annual Major Projects Inventory is a comprehensive list of the largest investment projects planned or underway in Atlantic Canada. The 24th edition of the Inventory identifies 407 projects in various stages of development across Atlantic Canada. The total value this year is $72 billion, up 34% over last year’s Inventory.