Maritime leaders are calling the recent Canada Investment Summit in Toronto a major win for the region. All three Maritime premiers traveled to the event to pitch local projects to investors from more than 30 countries.

New Brunswick Secures Port Funding

New Brunswick Premier Susan Holt attended the summit to highlight several key provincial initiatives. She showcased the Sisson Mine, nuclear development and the Belledune Port expansion. These pitches are already paying off for the province.

Denis Caron is the president and CEO of the Port of Belledune. He traveled with the delegation and secured 40 percent of the funding needed for a new project.

“In our case, I think it was very successful,” Caron said. “There is a real opportunity here to shift to look at new markets and new partners.”

Nova Scotia Pushes Green Energy and Space

Nova Scotia Premier Tim Houston also used the event to promote 20 provincial projects. He focused on offshore wind, mining and a proposed spaceport.

Catherine Klimek is Houston’s press secretary. She confirmed investors responded well to the presentations.

“Many of our projects were well received, and we look forward to working with investors and project proponents to grow the Nova Scotia economy,” Klimek said in a statement to CTV News.

Industry Leaders Urge Caution

While government officials celebrate the summit, some local industry leaders want you to temper your expectations. Rick Doucett is the president of the New Brunswick Federation of Woodlot Owners. He supports increased investment but warns the province against rushing into agreements.

“We do have a long history of making some pretty bad deals in the short term, almost maybe a slightly desperate situation like we are in now,” Doucett said.

He pointed to past foreign investments in local sawmills that ultimately resulted in facility closures. He wants negotiators to remember who sits across the table.

“The team that is negotiating for New Brunswick is on Team New Brunswick, but the team they are negotiating with is not Team New Brunswick,” he said. “They are team stakeholder. And you have got to make sure you understand the difference.”

Frequently Asked Questions

What was the Canada Investment Summit?

The Canada Investment Summit was a gathering in Toronto that connected Canadian political leaders with investors from over 30 countries to discuss funding for regional projects.

Which New Brunswick projects were pitched at the summit?

Premier Susan Holt showcased the Sisson Mine, nuclear energy development and the Belledune Port expansion.

Did New Brunswick secure any funding?

Yes. The Port of Belledune secured 40 percent of the funding required for a new project during the summit.

Why are some industry leaders cautious about foreign investment?

Local leaders like Rick Doucett warn that past foreign investments in sectors like forestry led to bad short term deals and sawmill closures. They urge the province to negotiate carefully.