Economic Highlights

Job creation in Charlottetown - APEC

The Atlantic Provinces Economic Council (APEC) confirms the centralization of job growth in Prince Edward Island with job creation results from 2008 – 2015. The numbers indicate that in that time span 3,900 jobs were created in Charlottetown, while 300 jobs were created in the rest of the entire province. Both jobs and population growth continue to indicate that Charlottetown is a proven location for investment.

Charlottetown boosts GDP and jobs in 2016 - 

Conference Board of Canada

The Conference Board of Canada tracks both Gross Domestic Product(GDP) and job growth in cities each year. In Charlottetown, GDP grew 3.3% in 2016 for an additional $81 million of economic activity, continuing the city’s run of positive GDP growth since 2005. By comparison, Canada’s GDP grew by only 1.4%.Additionally, Charlottetown added 200 jobs over the previous year for a total of 5,800 jobs added since 2005.

HGS Announces 170 new jobs in Charlottetown

HGS Canada (a subsidiary of Hinduja Global Solutions Limited (HGS), a company listed in India) announced it will hire 170 positions in its Charlottetown customer experience contact centre in March to support a new media and communications client. The company is hosting a job fair on Thursday, February 16, 2017 at the Red Shores Racetrack & Casino, 21 Exhibition Drive, Charlottetown. HGS will begin interviewing candidates to fill 170 positions scheduled to start in the next few weeks at its 81 Hillstrom Avenue contact centre.HGS is hiring these new roles to meet increasing client demands as part of HGS’s overall growth in Canada for 2017. HGS previously announced the availability of 1,225 new positions across the country.

Newcomer Orientations

In the fall of 2016, the City of Charlottetown initiated orientation sessions for newcomers to the capital city. Numerous events were held and hundreds of new citizens to Charlottetown were invited into City Hall to hear from numerous departments, meet with Mayor and Councilors, and get more familiar with City Hall and how the municipal government operates. Newcomers had the opportunity to meet with staff from all of the City departments, enjoy refreshments, and were also taken on tours of the city. The events were full to capacity and the City’s newest citizens were warmly welcomed to their new home.

Start Up Zone opens in Charlottetown

Designed to empower entrepreneurs and enable business development and growth, the Start Up Zone has opened its doors on Queen St in Charlottetown. The facility accommodates up to 40 people. Numerous new businesses have already taken up residence. The Start Up Zone is a multi-sector approach to business development which encourages collaboration. Another example of an inspired business community.

Continued Growth in Biotechnology Sector

A program of the federal government, under the Centres of Excellence for Commercialization and Research program (CECR) has awarded one of two national awards to the PEI BioAlliance. The award will provide $14 million over 5 years for commercialization of natural products including human and animal health, agricultural products, and industrial chemicals. Natural Products Canada, the company formed to host the project has four partners across the country and is headed up in Charlottetown. The objective of the initiative will be the movement of projects from research and development stage to commercialization. Natural Products Canada which has leveraged extensive contacts in academia will be lead by CEO, Shelly King and hosted at the University of Prince Edward Island.

Site Selection Magazine Picks Charlottetown Again

Charlottetown has again in 2015 been named as one of the Top 10 Economic Development Groups in Canada by Site Selection Magazine out of Atlanta, Georgia. Listed in the 8th annual Best to Invest Awards based on corporate end-user facility investment and job creation data including partnerships, proactive programming and web resources. Charlottetown has been included along side much larger centers including Toronto, Vancouver, Calgary, Montreal, Edmonton, Winnipeg and Hamilton.

Tweel development

Major renovation to key downtown properties. Properties at 141 Kent Street, 63 Great George Street, and 135-139 Kent Street are undergoing major re-development, will increase office capacity in this section of the downtown, and are a further indicator of private sector investment and optimism in the Charlottetown economy. Owner Chris Tweel has worked very hard to make significant improvements to these buildings which will bring back to life this very important intersection of the downtown.

Invesco Ltd. Expands in Charlottetown

Seven years after its initial move to Charlottetown in 2008, Invesco Ltd. has become one of the areas largest employers, with over 290 full-time permanent staff at the office. The company is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives.

Invesco Ltd’s Charlottetown office is a key global enterprise hub for the firm and offers Islanders progressive careers across a diversity of disciplines including customer service, information technology, accounting, finance, and human resources.

“We are delighted to expand our operations in Charlottetown” said Adam Runge, Senior Officer, Invesco Canada. “We are very proud of our team here and our experience has been nothing short of incredible. We have consistently met and exceeded all of our growth targets. Charlottetown continues to be a fantastic place to do business.”

Carta Worldwide opens Payment Processing Centre 

Carta Worldwide, a leader in payment processing, will set up a data site at the Atlantic Technology Centre in Charlottetown with assistance from Innovation PEI.

Carta Worldwide currently offers payment programs to customers in the UK, Europe, Caribbean and the United Arab Emirates.The Charlottetown office of Carta Worldwide is expected to employ up to 17 people by summer 2016. The positions, which include IT support, graphic design and management jobs, are intended to help Carta Worldwide expand its presence in the North American marketplace.

The Canadian office will also serve as a backup to Carta Worldwide’s current data processing centre in Nicosia, Cyprus.

Charlottetown Makes Site Selection Magazine’s Top 10

 The City of Charlottetown has been named as one of the Top 10 economic development groups in Canada by Site Selection Magazine out of Atlanta, Georgia. Charlottetown is the only city in Atlantic Canada to be recognized within these rankings. The ranking is part of Site Selection’s seventh annual Canada’s Best to Invest awards and is based on April 2013 – March 2014 corporate end-user facility investment and job creation data, which includes corporate facility investment, related job creation, partnerships, proactive programming and web resources. The magazine article notes, “From 2005 to 2012, Charlottetown saw the creation of 4,000 jobs, and saw a steady rise in GDP each one of those years, even during the recession.“

Buchanan Technologies Opens Charlottetown Office

Buchanan Technologies Inc. of Grapevine, Texas, has opened an office in Charlottetown and is projecting to create 46 jobs on the Island within three years.

“We selected Charlottetown as the location for our first Canadian Service Delivery Center based on the quality of the workforce, quality of living, availability of IT talent, access to bilingual resources, and the level of partnership and support that we received from Innovation PEI,” said Stephen Sweett, President of Buchanan Technologies.

Positions in Prince Edward Island include technical support, MDM specialist, network specialist, security specialist, desktop support specialist and administration. Innovation PEI is supporting the opening of Buchanan Technologies Inc. with the Innovation and Development Labour Rebate (IDLR). This could reach roughly $700,000 over five years if the projected 46 new jobs are created. Buchanan Technologies Inc. has opened offices in the Atlantic Technology Centre and has hired its initial nine employees.