4. Recent
Conference
Board
Report
put
NB
economy
last
among
the
provinces,
2nd
worst
overall
(ahead
of
France)
across
26
jurisdictions
(10
provinces,
16
advanced
countries).
NB
Finance
Indicators:
2010-‐2013
Employment
decline
of
1.3%
Unemployment
rate
up
from
9.3%
to
10.4%
Housing
starts
down
31%
(4101
to
2843
units)
Di
Matteo
Economics
5. Fewer
workers
to
pay
taxes
Outmigration
of
young
Aging
population
needing
more
services
Fiscal
sustainability
Di
Matteo
Economics
6. DEFICIT
NET
DEBT
-‐800
-‐600
-‐400
-‐200
0
200
400
Deficit
(mm$)
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Net
Debt
(mm$)
Di
Matteo
Economics
7. 0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
1990-‐91
1992-‐93
1994-‐95
1996-‐97
1998-‐99
2000-‐01
2002-‐03
2004-‐05
2006-‐07
2008-‐09
2010-‐11
2012-‐13
Percent
New
Brunswick
&
Ontario:
Net
Debt
to
GDP
1990-‐2013
NB
ON
Di
Matteo
Economics
49.3
38.6
38.2
37.5
36.5
28.7
24.5
17.0
5.1
-‐2.9
-‐10.0
0.0
10.0
20.0
30.0
40.0
50.0
60.0
QC
ON
NS
PE
NB
MB
NL
BC
SK
AB
Percent
Provincial
Government
Net
Debt
to
GDP
Ratios
(2013-‐14)
8. Good
quality
of
Life
NB
cities
do
well
in
quality
of
life
rankings
Good
infrastructure
Roads,
ports,
internet
NB
rich
in
natural
resources
Forestry,
fisheries,
potash,
mining,
agriculture
Solid
base
of
successful
companies
McCain
Foods
Irving
Companies
Ganong
Di
Matteo
Economics
9. NEW
BRUNSWICK
GDP
of
$32
billion
755,000
people
Resource
rich
Issues
Slow
growth
Aging
population
Sustainability
Outmigration
NORTHERN
ONTARIO
GDP
of
$25
billion
730,000
people
Resource
rich
Issues
Slow
growth
Aging
population
Sustainability
Outmigration
Di
Matteo
Economics
10. Have
similar
economic
issues
but
New
Brunswick
has
some
advantages.
New
Brunswick
more
compact
with
higher
population
density
Northern
Ontario
often
attributes
its
problems
to
regional
alienation
and
lack
of
autonomy
But
New
Brunswick
has
provincial
status
and
political
and
economic
tools
not
available
to
Northern
Ontario
Di
Matteo
Economics
11. A
Comparison
of
US
States
and
Canadian
Provinces
Di
Matteo
Economics
12. California
Ontario
Washington
Alberta
Maine
New
Brunswick
Prince
Edward
Island
1st
4th
15th
30th
45th
54th
60th
Population
38,332,521
13,550,929
6,971,406
4,007,199
1,328,302
755,635
145,505
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
45,000,000
Population
Ranked
Populations,
July
1,
2013
Di
Matteo
Economics
13. 38.2
33.4
29.2
28.4
26.3
24.1
21.9
21.8
21.8
21.5
Nevada
AB
Utah
Arizona
Texas
Idaho
North
Carolina
Florida
Colorado
Georgia
Fastest
Growing
Populations
(%)
2000-‐13
Di
Matteo
Economics
14. 3.4
3.4
2.8
2.6
1.8
1.0
0.7
0.1
0.0
-‐0.6
Louisiana
New
York
Vermont
West
Virginia
Ohio
NS
NB
Rhode
Island
NF
Michigan
Slowest
Population
Growth(%),
2000-‐13
Di
Matteo
Economics
16. California
Texas
New
York
Florida
Illinois
Penn
Ohio
ON
New
Jersey
North
Carolina
1st
2nd
3rd
4th
5th
6th
7th
8th
9th
10th
GDP
(US
PPP$)
2202678
1532623
1310712
800492
720692
644915
565272
564696
543071
471365
0
500000
1000000
1500000
2000000
2500000
millinos
of
US
PPP$
Top
Ten
by
GDP
in
2013
(US
PPP$)
Di
Matteo
Economics
17. Rhode
Island
MB
South
Dakota
Wyoming
Montana
NS
Vermont
NF
NB
PE
51st
52nd
53rd
54th
55th
56th
57th
58th
59th
60th
GDP
(US
PPP$)
53184
49775
46732
45432
44040
31774
29509
29084
25893
4698
0
10000
20000
30000
40000
50000
60000
millions
of
US
PPP$
Bottom
Ten
by
GDP
in
2013
(US
PPP$)
Di
Matteo
Economics
18. NF
ON
BC
Michig
Alabam
MB
Maine
West
Virginia
QE
Mississi
ppi
NS
NB
PE
41st
44th
46th
51st
52nd
53rd
54th
55th
56th
57th
58th
59th
60th
Per
Capita
GDP
(US
PPP$)
45489
43940
43257
40858
40453
39949
39794
38047
36559
33992
31331
30585
29780
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
50000
US
PPP$
Per
Capita
GDP
in
2013
(US
PPP$)
Di
Matteo
Economics
19. 0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
100.0
North
Dakota
NF
Oregon
Wyoming
South
Dakota
Nebraska
Oklahoma
Montana
SK
Iowa
Percent
Top
Ten
Performers,
Real
Per
Capita
GDP
Growth,
2000-‐2013
Di
Matteo
Economics
20. Many
US
states
hit
hard
by
2008-‐09
recession
At
16.7
percent,
New
Brunswick
does
better
than:
Massachusetts
(14.2%)
New
Hampshire
(11.3%)
Quebec
(10.2%)
Maine
(7.0%)
Ontario
(5.2%)
Di
Matteo
Economics
21. 0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
50.0
NF
SK
MB
BC
PE
NS
NB
QE
AB
ON
Percent
Growth
in
Real
Per
Capita
GDP,
Canadian
Provinces,
2000-‐2013
Di
Matteo
Economics
22. Atlantic
Canada
is
doing
poorly
in
terms
of
extensive
growth
Intensive
growth
is
more
respectable
when
compared
to
other
Canadian
provinces
Di
Matteo
Economics
35. Invest
in
yourself
based
on
your
own
needs
and
priorities
Innovation
starts
at
home
Look
for
examples
from
around
the
world
but
adapt
them
to
local
needs
Di
Matteo
Economics
36. Private
sector
is
the
ultimate
source
of
wealth
generation
Need
to
encourage
entrepreneurship
How
can
government
facilitate
private
sector
activity?
Human
capital
and
physical
infrastructure
a
role
for
government
Di
Matteo
Economics
37. Urban
centres
will
be
engines
of
growth
▪ “Two”
New
Brunswicks
▪ Major
cities
and
surrounding
populations:
Moncton,
Fredericton
&
Saint
John
▪ Smaller
towns
and
rural
areas
▪ At
present
–
about
a
50/50
split
Di
Matteo
Economics
38. Atlantic
provinces
can
benefit
from
a
stronger
internal
economic
union
as
well
as
“federating”
the
provision
of
some
public
services.
Need
to
overcome
locational
disadvantages
Di
Matteo
Economics
39. Population
decline
needs
to
be
arrested.
More
aggressive
recruitment
of
immigrants
Di
Matteo
Economics
41. A
Leadership
Role
in:
Research
▪ Examine
issues
of
importance
to
regional
economy
of
NB
&
Atlantic
Canada
Teaching
▪ A
course
on
Atlantic
Canada
in
the
World
Economy
Community
Outreach
▪ Private
sector
▪ Government
▪ External
agencies-‐national
and
international
▪ Media
Di
Matteo
Economics
