HALIFAX - The Atlantic Economic Council is undertaking a research study to estimate the total economic and fiscal impacts of Indigenous communities and businesses in Atlantic Canada. The primary source for research is the preliminary results from Statistics Canada’s Indigenous Peoples Economic Account (IPEA), released in 2022. The final IPEA estimates are expected to be released in April 2024. Our final report will follow, in late Spring 2024. This new data will allow for a clearer understanding of the contribution of Indigenous peoples, businesses, and communities.

Interim report findings estimate Indigenous communities and businesses in the Atlantic region directly generated $6.9 billion in output in 2020, which added $3.6 billion to gross domestic product (GDP), based on preliminary data from Statistics Canada. 

This spending generated a further $2 billion in GDP across the region, due to supply chain purchases and induced income effects. Indigenous peoples in the Atlantic provinces held 56,000 jobs and their activity sustained a further 27,000 jobs. Overall, the Indigenous economy helped create 5% of the region’s GDP and over 8% of the region’s jobs.

“The impact of Indigenous economy is enormous. It’s double the impact of the Atlantic aerospace and defence industry. And 11 times the size of the impact of international students attending Atlantic universities.” says report author, Fred Bergman, Senior Policy Analyst with the Council.

The Indigenous population in the region is growing more quickly than the non-Indigenous population, but education and labour market gaps still limit the growth of the Indigenous economy as explained in earlier research by the Council, available here.

Challenges facing the Indigenous economy must be addressed to close gaps and unlock the potential of the Indigenous economy. The opportunities to grow the Indigenous economy and advance self-determination should be explored further.

This research has been conducted on behalf of the Atlantic Policy Congress of First Nations Chief Secretariat through its Atlantic Indigenous Economic Development Integrated Research Program (AIEDIRP).

“This research is imperative to affirm the significance of Indigenous communities and businesses across the region,“ says John G. Paul, Executive Director of the Atlantic Policy Congress of First Nations Chiefs Secretariat. “The success of our region’s economy is strengthened by the contribution of Atlantic Indigenous communities and businesses. It is important to address their challenges to support continued growth.”

Indigenous Economy Impacts - Provincial Snapshots

Nova Scotia

• Almost 700 Indigenous-owned businesses in Nova Scotia
• $1.3 billion in direct GDP (over 3% of NS’s GDP)
• Directly employs about 23,000 people (over 5% of NS jobs)
• $400 million in direct taxes
  
  

Newfoundland & Labrador

• Over 700 Indigenous-owned businesses in Newfoundland & Labrador
• $1.6 billion in direct GDP (5% of NL’s GDP)
• Directly employs about 20,000 people (over 9% of NL jobs)
• $600 million in direct taxes
  
  

Prince Edward Island

• Over 50 Indigenous-owned businesses in Prince Edward Island
• $60 million in direct GDP (1% of PEI’s GDP)
• Directly employs 1,200 people (over 1% of PEI jobs)
• $20 million in direct taxes
  
  

New Brunswick

• Over 300 Indigenous-owned businesses in New Brunswick
• $700 million in direct GDP (over 2% of NB’s GDP)
• Directly employs about 12,000 people (over 3% of NB jobs)
• $200 million in direct taxes

Atlantic Economic Council has produced significant independent research on Indigenous businesses and communities, to help support economic reconciliation and ensure a healthy, inclusive and sustainable economy across the Atlantic region. 

To schedule an interview on this report, please contact: 

Erica Parrill 
Communications Manager 
Email:  erica@atlanticeconomiccouncil.ca
Mobile:  902-877-2159