The difference between federal, provincial and local economic development: A primer

If a national government wants to grow and strengthen its economy, it would like to foster:
-More international exports (or import substitution where beneficial)
-More capital investment
-More international tourists
-National population growth
-Innovation and productivity gains

If a provincial government wants to grow and strengthen its economy, it would like to foster:
-More international and interprovincial exports (or import substitution where beneficial)
-More capital investment
-More international and interprovincial tourists
-Provincial population growth – from natural gains, or migration from other provinces or internationally
-Innovation and productivity gains

If a local government wants to grow and strengthen its economy, it would like to foster:
-More local services – particularly import substitution and services that attract people from outside the community
-More international, interprovincial and intraprovincial exports (or import substitution where beneficial)
-More capital investment
-More international, interprovincial and intraprovincial tourists
-Local population growth – from natural gains, or migration from other parts of the province, other provinces or internationally
-Innovation and productivity gains

In New Brunswick, the number of paid economic developers (broad estimate):
-Federal = 300+ (including CBDCs) – excluding ACOA head office except NB % share – including NRC IRAP, etc.
-Provincial = ~200
-Local = ~40

Spending on economic development (broad estimate):
-Federal = $150-$200 per capita (NB share of ACOA, NRC-IRAP, etc. budgets)
-Provincial = ~$100 per capita (ONB, econ. dev. share of RDC)
-Local = less than $10 per capita (amount municipalities are spending on economic development)

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