Usually when I expound my theory to people that New Brunswick has to attract much more business investment from outside the province, the typical response is “Why would anyone want to invest in New Brunswick?” (I have also received this type of response from people in the economic development business in New Brunswick – the folks that should be the true believers – but that’s the subject for another blog).
They will say that New Brunswick is far from major population centres, an inhospitable climate, not on any major trade route, and with no particular attributes that can be leveraged into additional growth (like oil & gas in Alberta).
Funny, that sounds just like Phoenix. It is over 400 miles from the nearest major urban centre (Los Angeles) and has a very inhospitable climate – for business – it’s better for pleasure :-). In fact, Phoenix only became a city 75 years ago because of the harsh climate. Phoenix is not particularly on any major trade route and has almost no natural resources to leverage (no fish, no significant agriculture, no wood, not much mining). However, it’s population is up 60% in the past 15 years.