As we move through February 2026, the economic landscape in Saint John and the wider New Brunswick region continues to evolve. With businesses navigating shifting trade challenges, tariffs, and a dynamic interest rate environment, stability and modernization have become the watchwords for local industry. In a timely development for the Port City, the provincial government has announced a substantial financial injection aimed at fortifying key players in our economy.

$54.3 Million to Strengthen Competitiveness

Opportunities NB (ONB) has announced a commitment of up to $54.3 million over the next three years. This funding is designed to help New Brunswick companies modernize their operations, improve productivity, and, crucially, keep New Brunswickers working. The initiative targets businesses ready to invest in their own growth, ensuring they remain competitive on a global stage despite current market volatility.

Luke Randall, the minister responsible for Opportunities NB, emphasized the strategic nature of these investments: "When we invest in large companies, we are supporting companies that anchor our economy and create benefits felt across supply chains and in communities throughout the province."

Saint John Focus: Securing the Future of Irving Paper

For Saint John residents, the headline news is a significant agreement with Irving Paper Ltd., home to New Brunswick’s only remaining paper mill. To combat significant cost pressures and market fluctuations, the government is providing up to $15 million per year over three years to the company.

This investment is intended to:

• Sustain mill operations during a volatile economic period.
• Protect more than 183 jobs in Saint John.
• Secure approximately $20.6 million in annual payroll for the region.

This move underscores the critical role the mill plays in the local Saint John economy, acting as a stabilizer for hundreds of families and the broader forestry supply chain.

Broader Regional Impacts

While the Irving Paper announcement is central to Saint John, the funding package extends to other major employers with ties to the region and the province at large:

• Kelly Cove Salmon Ltd.: A division of the New Brunswick-based giant Cooke Aquaculture Inc., this company will receive up to $3.8 million in repayable assistance to modernize salmon farming operations.
• Stantec: With a strong presence in the province, Stantec is set to receive up to $800,000 in payroll rebates to support the creation of up to 124 new jobs, leveraging local talent for global export projects.
• Agropur Cooperative: Receiving up to $2.4 million to modernize its Miramichi facility.

Jennifer Murray, Atlantic regional director of Unifor, praised the move, stating, "We applaud the government’s decision to stand up for New Brunswickers by keeping producers producing and workers working… This leadership will help New Brunswickers persevere through these difficult times."

For the full list of recipients and details, you can view the official announcement from Opportunities NB.

Frequently Asked Questions

What is the primary goal of this funding?

The funding aims to help New Brunswick companies modernize operations, improve productivity, and strengthen long-term competitiveness to retain jobs during uncertain economic times.

How much is Irving Paper receiving?

Irving Paper Ltd. is eligible for up to $15 million per year over three years, totaling a potential $45 million in support to sustain operations and protect jobs.

How can other businesses access support?

Opportunities NB has updated its financial assistance policies as of April 2025 to be more flexible. Businesses can contact ONB’s Business Navigators at 1-833-799-7966 or via email at nav@navnb.ca.