Latest news with #EconomicDevelopmentWinnipeg
Winnipeg Free Press
08-05-2025
- Business
- Winnipeg Free Press
‘We love our U.S. friends, but we need to diversify'
Suits appear to be the jersey of choice for players scouted for 'Team Manitoba.' Roughly 270 business executives gathered Thursday at Economic Development Winnipeg's annual investor breakfast. Politicians, panelists and the economic development agency shared a similar message: it's time to band together. 'Given the landscape in the (United) States and around the world and that uncertainty, it's even more important for us to be investing in ourselves,' Manitoba Economic Development, Investment and Trade Minister Jamie Moses told the crowd at the Canadian Museum for Human Rights. MIKE DEAL / FREE PRESS Economic Development Winnipeg hosted its annual investor breakfast at the Canadian Museum for Human Rights on Thursday, with a panel moderated by EDW vice-president Alberto Velas- co-Acosta (from left) and featuring Marty Maykut of Price Industries, Brad Elias of Winnipeg Airports Authority, Chris Reiter of Focus Equities and Katie Hall Hursh of Megill-Stephenson Co. Both he and Winnipeg Mayor Scott Gillingham underscored their respective governments' promises to foster a business-friendly climate. It comes amid an investment chill felt within the private sector. Economic Development Winnipeg clocked a slowdown of investment in March. Repercussions from U.S. President Donald Trump's November election win hit Winnipeg before his tariffs were launched against Canada. In late 2024, a major foreign direct investor backed away from entering Manitoba after nearly inking a deal. The company would have brought 'significant' jobs with it, said Amanda Macdonald, Economic Development Winnipeg business development vice-president. She declined to share the company's name, adding it could plant roots in the future. The uncertainty Trump has unleashed worldwide is drawing new opportunities, said Economic Development Winnipeg's vice-president, international Alberto Velasco-Acosta. The agency made inroads with Sweden and Finland, when a delegation of European ambassadors visited last month, he added. 'We love our U.S. friends, but we need to diversify,' he said. 'We need to be proactive in other markets.' Attracting investment requires becoming speedier with permitting, approvals and project evaluations, Velasco-Acosta listed. Better information sharing and systems alignment between economic development-related entities would also help, Macdonald said. Organizations in Manitoba are already making headway, she added — instead of having 'too many cooks in the kitchen,' an investor may deal with one contact point who's sharing information on behalf of several groups, including real estate agencies and EDW. 'From a client perspective, you want just a few constant people,' Macdonald said. 'Like a concierge type of approach.' Macdonald presented Winnipeg as a 'blank slate' to event attendees. Last fall, Economic Development Winnipeg contacted roughly 60 American site selectors about the city's business perception. Executives knew more about Toronto, Vancouver, Calgary and Montreal. 'Being neutral isn't necessarily negative,' Macdonald said in her speech. 'It simply means others are more top of mind. That's a challenge for us, but it's also an opportunity.' She highlighted Winnipeg's location, clean energy and low operating costs as competitive advantages to broadcast. '(We should) leave with a sense of optimism and not only share with each other, but with the rest of the world,' panelist Katie Hall Hursh, vice-president of the Megill-Stephenson Company Ltd., told the crowd. Arnaud Franco, BDC director of economic research, clocked 'a lot of optimism' in Winnipeg's business community when he visited Monday, one day before Prime Minister Mark Carney met with Trump at the White House. Franco provided an economic outlook to BDC clients. Currently, the business bank projects a one per cent increase in Manitoba's GDP this year. The number is similar to the 1.1 per cent growth seen in 2024. Economic conditions could improve if a deal with the U.S. materializes, Franco noted. He's booked 11 speaking engagements across Western Canada this week. 'A lot of people want input, because this feeling of uncertainty that they've been facing, it's paralyzing for small businesses,' Franco said. 'They don't know if they should hire. They don't know if they should invest.' BDC hasn't tracked an influx in Manitoba business closures or layoffs due to tariffs, he added. Nor has Indeed noticed a sharp decline in job postings. There's been an overall decrease since early 2023, following a post-pandemic hiring boom. Manitoba mirrors a national trend. 'I think employers are still holding off on totally changing their hiring plans until we've got some clarity on the situation,' said Brendon Bernard, a senior economist with a recruiting and jobs online platform. Still, Indeed has experienced a 'modest decline' in Canadian job postings, he continued. Posts dropped 4.3 per cent nationally between the start of February — when U.S. tariffs were first expected to arrive — and mid-April. Manufacturing job listings plunged 10 per cent during the same time. Robert Half, a human resource firm, is seeing companies hire staff. Paused investment likely comes on the project front, said Mike Shekhtman, a senior regional director. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. 'It's a challenge because companies are trying to weigh some of their short-term, but also look at the long-term, repercussions for not hiring,' he stated. Economic Development Winnipeg expects to launch a strategy guiding Winnipeg's five-year economic growth this fall. Its goal is to be in 'full alignment' with an economic development strategy the Manitoba government is creating, Macdonald said. The provincial document is anticipated for release this year. EDW facilitated $281 million in capital investment last year, resulting in 644 jobs and $234 million worth of GDP growth, per data it shared Thursday. It surpassed its goal of drawing $350 million in capital investment and generating $900 million in GDP growth between 2021 and 2025. By the end of 2024, those numbers hit $1.16 billion and $919 million, respectively. Gabrielle PichéReporter Gabrielle Piché reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle. Every piece of reporting Gabrielle produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Yahoo
06-05-2025
- Business
- Yahoo
Winnipeg Jets playoff run generates 'invaluable' free publicity for city
The success of the Winnipeg Jets in the NHL playoffs so far this season has done more than lift the spirits of hockey fans — it has given the city a wealth of free exposure. The televised hockey games — and the accompanying whiteout street parties — have put a spotlight on the city and its downtown. It's too soon to know the full economic impact of the games and parties, which draw an estimated 22,000 people to the events, a spokesperson for True North Sports and Entertainment said in an email statement. "The broader exposure of the Whiteout, for the sport, the Jets and our city, is invaluable," spokesperson Krista Sinaisky wrote. Economic Development Winnipeg has contributed up to $90,000 to the parties through the City of Winnipeg's special event tourism fund. It also partnered with 10 social media content creators from across Canada and the U.S. to come to Winnipeg and promote the games. That content generated 58 million views, worth about $2 million worth of "earned media," said Natalie Thiesen, vice-president of tourism. "That ability to position our city in a different way and having more eyeballs on Winnipeg, allows us to do our jobs and extend our reach in a way that our budget doesn't allow," she said. Paying to promote the city on a television program with the level of viewership of an NHL game doesn't come cheap, said Martin Fisher, CEO of Show and Tell Agency, a Winnipeg-based advertising firm. "You probably would end up having to spend about $1.5 million, $2 million to get the number of eyeballs that would have seen that on a … North American basis … You're into Super Bowl kind of money," said Fisher. WATCH | Fans, local businesses look forward to 2nd round of playoffs: The whiteout parties began in 2018. An analysis from Economic Development Winnipeg found the event saw 120,500 people attended the parties over the course of the six weeks the Jets were in the playoffs that year. That did not include the 15,000 people watching the game inside the arena or at downtown bars, restaurants and other places. In terms of "earned media" — essentially third-party publicity without direct payment — Economic Development Winnipeg calculated the value at roughly $2.2 million, including nearly 400 separate news articles with a reach of over 233 million views. The total cost of the party in 2018 was $2,167,000, including $1,084,000 from True North Sports and Entertainment, $120,000 from Economic Development Winnipeg and $962,000 from the City of Winnipeg, not including $153,000 it received from True North to cover extra policing and transit costs. Felicia Wiltshire, communications director for the City of Winnipeg, said in an email the city may also provide additional "in-kind" services, and is heavily involved in planning and execution of the events including any necessary road closures, city beautification and other work.
Winnipeg Free Press
03-05-2025
- Business
- Winnipeg Free Press
Manitoba trails provincial peers in 2024 GDP growth
Manitoba's GDP growth lagged behind all other Canadian provinces in 2024. The keystone province logged a 1.1 per cent increase in its gross domestic product, falling short of the 1.6 per cent national average. Ontario and British Columbia were not much better, clocking rates of 1.2 per cent each. 'It's not surprising that … Manitoba was a bit below the national average,' said Fletcher Baragar, a University of Manitoba economics professor. Typically, Manitoba falls behind when the economy is doing well and takes a lead when the economy is struggling. It's because the provincial economy is diverse, Baragar said. However, Manitoba taking last place is unusual, Baragar added, pointing to revenue declines at Manitoba Hydro and in agriculture. Statistics Canada released its GDP report Thursday. It circled 'utilities' as the largest negative impact on Manitoba's gross domestic product in 2024. Hydro posted a consolidated net loss of $157 million in its 2023-24 fiscal year. It cited lower net exports due to drought, more expensive power imports and higher operating costs. Weather also affected agriculture outputs, as did price easing, Baragar noted. Provinces with higher GDP growth — such as Alberta at 2.7 per cent — had an oil or real estate boom, Baragar said. Manitoba's agriculture GDP dropped 1.3 per cent year-over-year. Ryan Kuffner, Economic Development Winnipeg president, said he expects revenues in both agriculture and at Hydro to bounce back. 'Overall, Manitoba didn't do too badly.' Economic Development Winnipeg's senior economist didn't flag 'significant concerns' of Manitoba falling behind other provinces. There's potential to grow the local GDP by leaning into critical minerals, diversifying markets and ensuring Manitoba has shovel-ready land for development, Kuffner said. 'The province is working on a new economic development strategy that I think will be key.' He was echoed by Loren Remillard, president of the Winnipeg Chamber of Commerce. 'We need a concerted focus around economic development,' Remillard said. 'The economic horse is not getting the attention it needs, while the social cart is getting heavier and heavier.' (He was referencing Manitoba Premier Wab Kinew's campaign pitch of an economic horse leading the social cart.) Remillard called for a 'whole of government commitment' to prioritize economic growth. Lowering interprovincial trade barriers, investing in artificial intelligence and bolstering trade infrastructure are necessary, he added. The provincial government launched a public survey for input on its economic development strategy last week. A report will likely be out within the year, Minister of Economic Development Jamie Moses confirmed. 'That strategy, one of the primary focuses of it is to grow our GDP,' he said. He's been consulting with business leaders over the past months. Regarding Manitoba's slower GDP, Moses said government continues to invest in building the economy. Manitoba had the lowest inflation rate among provinces last year and the second-lowest unemployment rate. A new gold mine in Lynn Lake and government investments in businesses like bus maker NFI Group in Winnipeg will provide hundreds of jobs, Moses added. The recent GDP data show the New Democrats have been 'sloppy' with the economy, said Lauren Stone, finance critic for the Progressive Conservatives. 'The former PC government laid the groundwork for growth,' she said. 'NDP policies have chased those investors away and killed Manitoba's momentum.' Manitoba had the highest inflation rate among provinces in February and March, she flagged. (Manitoba's rate increased after the province's gas tax pause ended.) Its manufacturing sector saw GDP growth last year, unlike Saskatchewan and Alberta, among other provinces. It's 'encouraging,' Baragar said. He predicts Canada, and Manitoba, will experience less GDP growth in 2025, due to ongoing trade wars. Locally, dry weather might further strain Hydro and agriculture revenue, Baragar said. Manitoba's GDP growth in 2025 may be better than the Canadian average, he added. The province logged GDP growth of 1.9 per cent in 2023. Gabrielle PichéReporter Gabrielle Piché reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle. Every piece of reporting Gabrielle produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Winnipeg Free Press
25-04-2025
- Business
- Winnipeg Free Press
Public consultation on MB economic development plan
Public consultations on a province-wide economic development strategy have begun. On Thursday, the Manitoba government launched a public survey to gather feedback about policies needed to bolster productivity, investment and innovation. Consultation has been ongoing through the Premier's Business and Jobs Council over the past 14 months. Economic Development Winnipeg, the Business Council of Manitoba and Manitoba Chambers of Commerce have been tapped to gather perspectives from business leaders. The voices of Indigenous communities, labour and municipalities are also being accounted for, a government webpage for Manitoba's economic development strategy says ( It says the incoming document is an 'enduring roadmap to enhance Manitoba's productivity and competitiveness,' leading to higher wages and per capita income. The survey will be open until May 20. — Free Press staff
CBC
25-04-2025
- Business
- CBC
U.S. visitors to Manitoba up in 1st quarter of 2025, bucking national trend: StatsCan
While the number of people visiting Canada from the U.S. declined earlier this year, Manitoba may be bucking that trend. According to Statistics Canada, in March, the number of U.S. trips to Canada by automobile was down by 10.6 per cent from the same month in 2024. Winnipeg is "not immune to global shifts," representatives of Economic Development Winnipeg told the city's finance committee last week. But new data from Statistics Canada shows that land border crossings into Manitoba increased by 7.6 per cent during the first quarter of 2025, compared to the January to March period last year. "Though nationally we're seeing a decline — I would say a stable decline — in U.S. visitation, in Manitoba we're not seeing the same impact, based on the most recent Statistics Canada data, by land crossing and also by air," Natalie Thiesen, vice-president of tourism with Economic Development Winnipeg, said in an interview Wednesday. Arrivals by air in Manitoba increased even more during the same period — by about 60 per cent, Thiesen said. That may be due partly to increased capacity from new flights coming online within the last year. The agency has heard concerns from some Americans who worried they won't be welcome if they come here, Thiesen said. Economic Development Winnipeg commissioned a poll by Probe Research, conducted from March 4 to 16, that suggests a strong majority of the 600 respondents said Manitobans should still warmly welcome Americans, Thiesen said. "So that's telling [about] our friendly Manitoba nature and Winnipeggers' willingness to welcome Americans to our jurisdiction, and they're an important piece of business to our visitor economy," said Thiesen. The head of the Manitoba Hotel Association says there are a number of big events planned this year, expected to draw large numbers of tourists. "So [we're] pretty optimistic for the year ahead. And yeah, we really haven't heard much or anything of large changes in U.S. demand in Winnipeg or Manitoba so far," said president and CEO Michael Juce. Tourism is a $1-billion industry in Winnipeg, and cross-border travel represents about 25 per cent of visitor expenditures in the city, said finance committee chair Coun. Jeff Browaty. Many Canadians are also looking at travel options within Canada rather than going to the U.S., and Winnipeg is attempting to capture some of that interest through a new tourism campaign touting the province's status as Canada's "middle child." Browaty said he believes the favourable exchange rate for the U.S. dollar in Canada may also serve as an enticement for American shoppers.
