Al & Alec

You know what’s funny? Al Hogan spends the majority of his editorial ink defending the NB government and yet he will allow little old Alec Bruce to write in his column some very negative things about the government. A few weeks ago, fellow blogger Bruce, wrote a rather scathing review of the Lord government’s economic development policy. And today, Bruce comments on the new ACOA study on foreign direct investment in Atlantic Canada.

He states:

Over the past 20 years, foreign direct investment (FDI) in Atlantic Canada (which now accounts for about 19 per cent of total annual business revenues) has clearly done more good than harm: increasing the geographic diffusion of new, commercially viable technologies; improving the quality, productivity and diversity of goods and services; and generating new, generally high-paying jobs.

Recent research by the Atlantic Provinces Economic Council and others indicate that foreign-controlled manufacturing firms in Canada are more productive, more likely to carry out R&D, and are more collaborative partners with local universities and innovation consortiums than their domestic counterparts.

Golly gee, Alec. Tell us something we don’t already know.

Then he goes on about Ireland and Iceland and their fabulous success at attracting FDI. He states:

Atlantic Canada should be so lucky, if luck had anything to do with it.

Well, Alec (and Al), luck has very little to do with it.

It’s about wanting it.

And going after it.

And bringing it here.

Like Research in Motion.

Like UPS, Imperial Oil, Xerox, etc.

Like Michelin.

Oh wait. Those are either in Nova Scotia or from the last decade in New Brunswick.

Here is a list of the large FDI projects that the current government has brought in to New Brunswick since 1999.

1.
2.
3.
4.
5.

And don’t forget,

Oh, and

Molson? Foreign investment? Perhaps loosely defined.

It’s great to wax on about the importance of FDI but it should be followed up with a call to action.