LISTEN: Offshore energy investment heats up across the region, Nova Scotia restructures its immigration nominee program, New Brunswick strikes a tourism deal with the Toronto Blue Jays, and Newfoundland and Labrador’s new government tables its first full budget.

This week on the Atlantic Canada Business Report, host Peter McCully covers major offshore energy activity in Nova Scotia and Newfoundland and Labrador, the restructuring of Nova Scotia’s Provincial Nominee Program, a used car dealership fraud investigation in lower Sackville, a new home care acquisition, and Newfoundland and Labrador’s 2026—27 budget. Inceptio Oil and Gas has committed more than 210 million dollars in exploration near Sable Island, while the Newfoundland and Labrador budget allocates 90 million dollars to a new offshore exploration fund as the Bay du Nord project moves toward a final investment decision.

Nova Scotia is overhauling its Provincial Nominee Program with a 12-month expiry on expressions of interest and a tiered priority framework that favours healthcare workers and skilled tradespeople. New Brunswick has inked a three-year, 1.6-million-dollar tourism marketing partnership with the Toronto Blue Jays, and Premier Susan Holt has signalled she is prepared to restore American alcohol to provincial shelves if significant tariffs are rolled back. In Prince Edward Island, Ottawa and the province have signed a workforce tariff response agreement targeting sectors most exposed to trade uncertainty. In Newfoundland and Labrador, the Progressive Conservative government’s first full budget projects a deficit of 688 million dollars with no new taxes, a phased small business tax reduction, and 5.4 billion dollars directed to healthcare.

Highlights:

Atlantic Canada

Nova Scotia and Newfoundland and Labrador are both pushing to attract offshore energy investment. Inceptio Oil and Gas committed more than 210 million dollars near Sable Island, while the Newfoundland budget allocates 90 million dollars to a new offshore exploration fund.

Nova Scotia

Nova Scotia is restructuring its Provincial Nominee Program with a new 12-month expiry period for expressions of interest and a tiered priority framework that fast-tracks healthcare workers and skilled tradespeople while restricting lower-skilled occupational categories.

New Brunswick

New Brunswick has signed a three-year, 1.6-million-dollar tourism marketing partnership with the Toronto Blue Jays, providing provincial visibility through game-day experiences, a national travel contest, and digital storytelling aimed at the team’s broad Canadian fan base.

Prince Edward Island

The federal government and Prince Edward Island have signed a workforce tariff response agreement to support island workers affected by trade disruptions. The province’s unemployment rate stood at 7.3 percent in March, linked in part to tariff-related pressures.

Newfoundland and Labrador

Newfoundland and Labrador’s Progressive Conservative government has tabled its first full budget, projecting a deficit of 688 million dollars with no new taxes or fee increases, a small business tax cut, and 5.4 billion dollars allocated to healthcare.

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LISTEN: Federal investment flows to Atlantic Canada’s cruise and food sectors, Prince Edward Island’s Auditor General warns of an unsustainable deficit, and Newfoundland and Labrador moves to restructure its Future Fund.

This week on the Atlantic Canada Business Report, host Peter McCully covers federal investment in the cruise and food industries, a major wind energy approval in Nova Scotia, New Brunswick’s economic growth strategy, a record deficit warning in Prince Edward Island, and restructuring legislation for Newfoundland and Labrador’s Future Fund. The Atlantic Canada Opportunities Agency is backing the Atlantic Canada Cruise Association with more than $350,000 for a three-year plan covering more than 20 ports across all four Atlantic provinces, and is sending 18 food and beverage companies to SIAL Canada, the country’s largest food trade show. A new retrofit partnership will help building owners across the region reduce carbon emissions and modernize aging facilities.

Nova Scotia Tourism reported $3.7 billion in revenue in 2025, up 8% from the prior year. In New Brunswick, Premier Susan Holt traveled to Ottawa to promote the province’s energy and trade assets, while the government launched an economic development strategy targeting 10% provincial growth by 2030. In Prince Edward Island, the Auditor General issued a stark warning after the province tabled a record $410 million deficit budget. In Newfoundland and Labrador, Irving Oil has filed a second application to ship crude via foreign-flag tankers from Placentia Bay to Saint John, and Bill 9 would restructure the province’s Future Fund by removing mandatory annual contributions.

Highlights:

Atlantic Canada

The Atlantic Canada Opportunities Agency is investing more than $350,000 in the Atlantic Canada Cruise Association to fund a three-year strategic plan supporting marketing, cruise line relationships, and business development.

Nova Scotia

The Upper Afton Wind Project in eastern Nova Scotia has received provincial environmental assessment approval. Co-owned by Membertou Development and Ever Wind, the project will generate 176 megawatts and create up to 250 construction jobs.

New Brunswick

New Brunswick Premier Susan Holt traveled to Ottawa to promote the province’s energy assets, ports, and project potential to Prime Minister Mark Carney and business leaders.

Prince Edward Island

Prince Edward Island’s Auditor General has issued a stark warning following the province’s record $410 million deficit budget.

Newfoundland and Labrador

The Newfoundland and Labrador government has introduced legislation to restructure the province’s Future Fund, which holds more than $500 million.

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LISTEN: A new regional construction alliance forms across Atlantic Canada, PEI tables its largest deficit in provincial history, Maritime lobster markets recover after China’s tariff reversal, and a snow crab pricing deal ends a two-week standoff in Newfoundland and Labrador.

This week on the Atlantic Canada Business Report, host Peter McCully covers regional labour markets, a new construction industry alliance, fishery pricing developments, a record provincial deficit, a long-term care strike, and a federal fuel tax suspension. Labour market data shows Atlantic Canada entering the second quarter with gains in all four provinces — Nova Scotia up 3,900 jobs, New Brunswick at a year-over-year high of 9,000, Prince Edward Island adding 2,600, and Newfoundland and Labrador growing 2% year over year. Eight provincial construction associations have united to form the Atlantic Construction Alliance, representing more than 100,000 contractors, tradespeople, and suppliers, with a mandate to improve procurement, labour mobility, and housing delivery across the region.

Maritime lobster harvesters are heading into spring with improved pricing expectations following the removal of China’s 25% tariff on Canadian seafood, though rising fuel and bait costs are squeezing margins. In Newfoundland and Labrador, the Fish Food and Allied Workers Union and the Association of Seafood Producers reached a snow crab pricing agreement, ending a two-week dispute that delayed the 2026 season opening. Prince Edward Island tabled its 2026–27 operating budget projecting a $410 million deficit — the largest in the province’s history. In Nova Scotia, more than 2,200 long-term care workers are on strike across 25 facilities. Ottawa has also announced a temporary suspension of the federal fuel excise tax from April 20th to September 7th.

Highlights:

Atlantic Canada - Eight provincial construction associations have joined to form the Atlantic Construction Alliance, a new regional body representing more than 100,000 contractors, tradespeople, and suppliers. The alliance will advocate for fairer procurement, improved labour mobility, stronger workforce development, and accelerated housing delivery.

Nova Scotia - More than 2,200 workers across 25 long-term care homes are on strike, seeking a $5/hour wage increase across all classifications. Workers include continuing care assistants, licensed practical nurses, and support service staff such as dietary and laundry employees.

New Brunswick - The New Brunswick government has reached a tentative agreement with more than 3,500 public service workers, covering 11 bargaining units now consolidated into one master agreement. Full details are being withheld pending ratification.

Prince Edward Island - PEI has tabled its 2026–27 operating budget projecting revenues of $3.4 billion against spending of $3.8 billion — a $410 million deficit, the largest in the province’s history and the largest relative to GDP of any province in Canada.

Newfoundland and Labrador - The Fish Food and Allied Workers Union and the Association of Seafood Producers have reached a snow crab pricing agreement, ending a two-week standoff. Harvesters received $6/pound through April 18th, adjusting to $5.75/pound thereafter, with prices tied to weekly markets.

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