Entrepreneurship Bringing Jobs, Talent & Investment Reports Ignite Fredericton
FREDERICTON, NB - Entrepreneurship, new jobs, and immigration were front and center as Ignite Fredericton, the community’s economic development organization, delivered the 2013/2014 Vision 2020 Report Card today at the Fredericton Convention Centre.
During 2013-14, Ignite Fredericton reported some impressive numbers: 51 new startups (including 6 companies through Planet Hatch) equating to 81 direct new jobs, and $5 million in investment. This comes as a result of Ignite Fredericton’s business counselling and support, and the acceleration program through Planet Hatch. More than 345 new businesses overall were incorporated in the region last year according to the Royal Gazette.
“When you see results like this, it’s clear the entrepreneurial spirit is flourishing in Fredericton and these startups are creating jobs in our community. With our state-of-the-art business accelerator, Planet Hatch, now fully up and running, we can expect startup job growth to increase in the coming years. We’re beginning to deliver on the promise of becoming Canada’s Startup Capital,” said Lee Danisch, Chair of the Ignite Fredericton Board of Directors.
Ignite Fredericton also reported excellent growth in attracting landed immigrants to the greater Fredericton area. Ignite Fredericton hosted 737 exploratory immigration visitors through the Provincial Nominee Program in 2013-14, up 57 percent from the previous year. In 2012, the last year with reported federal data, the Fredericton area saw 657 new residents through immigration, up 13% from 2011.
“Immigration is a key pillar in our economic growth strategy. New immigrants are investing in our community, they’re creating jobs, and they are bringing talent we’ll need in the future. Population growth is essential to a healthy community,” said Doug Motty, Chief Executive Officer of Ignite Fredericton. “In 2012, we hired an Immigration Coordinator, with funding from the City of Fredericton, and that program has significantly improved our ability to host, attract and retain immigrants.”
Key stakeholders also provided updates on innovative initiatives driving economic and entrepreneurial growth towards becoming the ‘Startup Capital of Canada’. The City’s telecommunications company, e-Novations/GoFred announced the best valued Internet offering in Canada in 2013 (according to an independent study), increasing the city’s competitive advantage. Knowledge Park, the main proponent of Planet Hatch, reported 800 jobs at the Park, $3.2 million in direct spending, a $76 million contribution to the community’s GDP, and paying $800,000 annually in property taxes. The Park continues to attract new companies including Calgary’s Rally Engineering and MarketWired from Ontario, creating 27 new jobs last year.
Ignite Fredericton also launched its new website and primary tool for providing business information and resources. The site features four main verticals to help entrepreneurs start, grow and locate their business, as well support for newcomers/immigrants to the Fredericton Region. The website includes a community profile, and showcases local startups like Timbre Cases, Silverwood Stone, Real Food Connections and Red Rover Brewing Company. The site is a work-in-progress with content still in development.
Ignite Fredericton is funded primarily by the City of Fredericton, with additional contributions from the Town of Oromocto, the Village of New Maryland and the private sector. Ignite, formerly called Enterprise Fredericton, was refocused and rebranded following the Vision 2020 community-based economic development strategic planning process last year.
About Ignite Fredericton
Mission: Fuelling Entrepreneurs for Economic Growth!
Vision: Startup Capital of Canada
As the community economic development organization, Ignite Fredericton offers free and confidential business counselling and tools to help entrepreneurs start, grow or locate a business!
Core functions include:
- Supporting Entrepreneurs
- Attracting & Retaining Talent through Immigration
- Strengthening the Economic Development Ecosystem through Strategic Initiatives and Partnerships.
Media Contact: Laurie Guthrie, Economic Development Specialist, 506.444.4686, email@example.com