Fredericton is positioned for long-term sustainable economic growth thanks to a solid investment attraction and retention plan tailored to the region’s unique strengths relative to global market trends.
The Community Growth Strategy 2004-2007 was developed following extensive Fredericton-specific SWOT analysis (strengths, weaknesses, opportunities, and threats) in light of regional and global investment trends, as well as broad-based consultation with community residents, business and political leaders. Research and consultation, as well as a comprehensive audit of Fredericton’s existing infrastructure, pointed to five potential areas for growth:
Fredericton’s highly educated workforce and impressive level of entrepreneurship are key to its economic growth in the five identified sectors. With renowned research and development capabilities in life sciences, information technology and engineering and new investment initiatives in aerospace and defense, Fredericton is well-placed to produce the researchers, innovators, inventors, and developers of the world.
The Community Growth Strategy requires continuous assessment of Fredericton’s competitive advantages in workforce, cost of doing business, incentive programs, and infrastructure. Fredericton’s political, business and economic development leaders have committed to ensuring the community’s continued competitiveness.