Business Resource Hub + Economic Snapshot |
|
The Economic Snapshot & Business Resource Hub is a monthly newsletter of the City of St. John’s highlighting economic indicators, upcoming business events and recent business news/resources for the St. John’s metro area.
Learn more at advantagestjohns.ca
|
|
City Initiatives and Updates |
|
New Office Hours Pilot Program for Businesses
|
The City of St. John’s celebrates Global Entrepreneurship Week November 8 - 14 by launching a new Office Hours pilot program to provide information to entrepreneurs and small businesses to connect them to entrepreneurial service and support agencies. The St. John’s Business Information Centre currently offers information services to entrepreneurs who are seeking business startup or expansion information. This new pilot program will extend and enhance this service.
Futurpreneur Info Session Tuesday Nov 9, 1 to 4 p.m.
Aged 18 – 39 and thinking about starting a business? Take advantage of Futurpreneur’s Office Hours session and learn about their programs in a tailored, one-on-one setting that is focused on you and your idea. Registration details here.
Bilingual Economic Development Network (RDÉE TNL) Wednesday Nov 10, 1:30 to 3:30 p.m., 348 Water Street
Are you bilingual, considering immigrating to Newfoundland and Labrador, looking for a job, starting a business, recruiting qualified people, or willing to offer tourism services in French? RDÉE TNL can help. Click here for registration details to schedule an in-person appointment at the St. John’s Business Information Centre, 348 Water Street.
|
|
Canada’s Ocean City Powerhouse – November Events
Centuries of experience have advanced St. John’s into Canada’s ocean city powerhouse. Our strengths are often profiled through ocean related events that highlight local expertise, institutions, and businesses. This month, the Marine Institute will host Propelling the Blue Economy: Connecting Our Oceans, Our People, Our Future taking place virtually Nov 23-25. Gathering stakeholders to dialogue on all aspects of The Ocean Decade, the conference will provide a platform to discuss the most recent innovations, trends, and solutions to assist in the development of a common framework that will contribute to the development of a sustainable blue economy for Canada and the world.
Eastern Health Establishes First MedTech Innovation Site in NL
Eastern Health has entered a partnership with BD-Canada that will see the newest healthcare technology brought to the health authority to find innovative solutions to positively impact quality of care. The partnership makes Eastern Health an innovation site for BD-Canada. This designation and partnership will ensure that Eastern Health is at the forefront of new technology while providing access to a live health-care environment for BD to test their products and services including medical devices, hardware, software and innovative procurement methods. Read more here.
Considering a Career in Construction? Check out the Building NL podcast
If you or someone you know is considering a career in construction and would like to hear from the industry's finest, look no further than the Building Newfoundland & Labrador Podcast. The Newfoundland and Labrador Construction Association has launched a new Podcast series aimed at promoting careers in the commercial construction industry. In the Podcast industry professionals showcase the importance of mentorship as well as provide advice for anyone looking to interested in pursuing a career in construction. View the first episode at nlca.ca.
|
|
Government of Canada –
Covid-19 Support Update
|
|
Business Benefits Finder
Answer questions to generate a tailored list of benefits for your business, whether you’re starting out or scaling up use the Government of Canada’s Business Benefits Finder.
|
|
New Targeted COVID-19 Benefit Programs |
For businesses still facing significant challenges, the government of Canada has announced targeted Covid19 supports through two streams: the Tourism and Hospitality Recovery Program and the Hardest Hit Business Recovery Program.
Applicants for these programs will use a new “two-key” eligibility system whereby they will need to demonstrate significant revenue losses over the course of 12 months of the pandemic, as well as revenue losses in the current month.
Businesses that face temporary new local lockdowns will be eligible for up to the maximum amount of the wage and rent subsidy programs, during the local lockdown, regardless of losses over the course of the pandemic. These programs will be available until May 7, 2022, with the proposed subsidy rates available through to March 13, 2022. From March 13, 2022, to May 7, 2022, the subsidy rates will decrease by half.
|
|
Latest Economic Indicators |
|
City Building Permits
November 1, 2021
|
Commercial permits
were down -12% from $131,469,398.38 in 2020 to $115,080,550.04 in 2021
Industrial permits
were valued at $3,000.00 for 2020 and $4,164,500.00 for 2021
Government/Institutional permits
were up from $136,500.00 in 2020 to $33,020,007.00 in 2021*
Residential permits
were up 30% to $51,766,844.56 for 2021 over $39,895,016.33 for 2020
Repair permits
were up 32% from $3,055,851.90 in 2020 to $4,042,260.57 in 2021
Total value of all permits
was up 19% to $208,074,162.17 for 2021 over $174,559,766.61 for 2020
*Note that this data does not include the full range of permit activity undertaken by the provincial government and Memorial University.
|
|
Gahan House Harbourview, 125 Harbour Dr.
Craig’s Cookies, 83 Duckworth St.
UKids, 48 Kenmount Rd.
Natural Boutique, 48 Kenmount Rd.
Calendar Club of Canada, 48 Kenmount Rd.
Hickory’s Farms, 48 Kenmount Rd.
Madras Café, 183 Duckworth St.
Independent Armoured Transport, 4 Vanguard Crt.
Cash Money, 330 Torbay Rd.
Pet Zone, 50 O’Leary Ave.
Home-Based Businesses
Photography business, 68 Dooling's Line
Mainlander Electrical, 41 Bristol St.
Photography business, 238 Ladysmith Dr.
Engineering services company, 47 Veitch Cres.
Hair salon, 6 Caravelle Pl.
Business Approvals to date for 2021
Total 119
Regular 94
Home-based 25
|
|
|
Labour Force Characteristics |
...as of October 2021
-
Labour Force 118,000 (up 0.8%)
-
Unemployment Rate 6.4% (down -2.1 ppts)
-
Employment 110,400 (up 3.1%)
-
Participation Rate 64.8% (up 0.2 ppts)
St. John's CMA, seasonally adjusted, three-month moving average. Percentage change reflects the same month previous year. Source: Statistics Canada.
|
|
The New Housing Price Index for St. John’s Metro was 102.3 in September 2021 up 4.4%*
The Consumer Price Index for St. John’s Metro was 144.5 in September 2021 up 3.8%*
Retail trade for Newfoundland and Labrador was $827 million in August 2021 up 4.7%*
* St. John's CMA, same month in the previous year. Source: Statistics Canada
**seasonally adjusted,.
|
|
|
Department of Community Services | Economic Development, Culture and Partnerships
Make sure to subscribe to our social media channels below to get the latest news from Advantage St. John's.
|
|
|
|
|
|
|
