Economic development strategy

Global shifts in trade, technology, and demographics are creating both challenges and opportunities. New Brunswick has what the world needs, and what it takes to thrive — our people, our natural assets, and our enterprising spirit.

The New Brunswick Economic Development Strategy 2026 sets out a bold vision and practical roadmap to strengthen competitiveness, foster inclusive growth, and position the province for long-term resilience. 

Working together, we are aiming to grow our economy by 10% by 2030. By deliberately shaping an operating environment that reduces investment risk, lowers costs, and enhances competitiveness, we can encourage businesses to invest, innovate, and expand. This approach will support higher paying jobs, expand opportunities for youth, and accelerate the transition to a lower-carbon economy through innovation.

At its core, the strategy identifies a focused set of priorities for the province to compete and scale. These priorities will advance a diversified and future-oriented provincial economy. Together, with a clear emphasis on sustainable GDP growth and the expansion of high-growth firms, we can create the conditions to attract and grow investment at a significantly greater scale and pace.

Resource-based industries including Mining, Agri-Food, Seafood and Forestry will remain a foundation of New Brunswick’s economy, creating opportunities for value-added growth and sustainable development. At the same time, knowledge- and technology-driven sectors including cybersecurity, artificial intelligence (AI), advanced manufacturing, modern methods of construction, IT services, creative industries, and health technologies will drive productivity, exports, value added production and talent attraction. Defence and dual-use capabilities build on the province’s strategic military presence and cybersecurity strengths. Together, these three priority areas offer the strongest potential to accelerate long-term economic growth. The priority areas are:

• Resource-based industries
• Knowledge, technology and technology-enabled industries
• Defence

To advance this vision and achieve this goal, the Government of New Brunswick will pursue three interconnected strategic objectives:

1. Increasing productivity: Sustained prosperity depends on producing more value per worker and per dollar invested. New Brunswick must close its long-standing productivity gap by accelerating technology adoption, strengthening innovation ecosystems, modernizing traditional industries, and supporting high-growth firms. Higher productivity enables stronger wages, greater business competitiveness, and improved fiscal stability.
2. Attracting investment: Private-sector investment drives job creation,  innovation, and economic expansion. The province  will strengthen its competitiveness by reducing  barriers, preparing investment-ready sites, aligning  incentives with performance, and accelerating major project approvals. By creating a predictable, responsive business environment, New Brunswick will position itself as a preferred destination for domestic and international investment and private sector capital. 
3. Growing and diversifying exports: Economic resilience includes reducing reliance on a single export market. The province will expand trade relationships within Canada and internationally, support export-ready firms in entering new markets and finding new customers and align infrastructure and logistics to improve global connectivity. Diversified exports will create more stable growth and greater long-term opportunity for New Brunswick businesses.

These objectives will be supported by five foundational enablers that create the conditions for business growth and competitiveness:

1. Capital access
2. Productivity and innovation
3. Skilled labour
4. Energy infrastructure
5. Economic infrastructure

The five enablers define the conditions government will create to support and sustain that achievement.

Partnership and regional collaboration are at the core of New Brunswick’s approach to economic development. This plan recognizes that strong economic outcomes are achieved when opportunities are aligned with the priorities, values, and aspirations of the people and places they affect. 

Through thoughtful planning, collaboration, and shared commitment, this strategy turns potential into progress and positions New Brunswick to pursue a future that builds on existing strengths and harnesses new opportunities. Targeted actions will allow us to close the productivity gap, attract more private sector investment, and grow and diversify our exports. Ultimately, our economic success will be measured not only by growth and investment, but by quality of life.

The New Brunswick Growth Office will play a central role in advancing our economic priorities. It will provide economic development leadership across all government departments, ensuring that policies and programs work together to support sustainable growth. By streamlining efforts and enhancing collaboration, the Growth Office will create a seamless environment for implementing initiatives and responding to emerging opportunities.

Initiatives and investments will be carefully prioritized to maximize economic impact and ensure alignment with provincial economic policy, creating a coordinated, strategic approach to growth.

This prioritization will allow the Growth Office to pursue major projects and economic opportunities quickly, helping the province capitalize on new trends, attract investment, and support business expansion.