Indigenous businesses and communities boost Atlantic Canada's economy by $6.2 billion

HALIFAX (July 11, 2024) –  Our latest report examines the economic and fiscal impacts of Indigenous communities and businesses in Atlantic Canada. The primary data source is Statistics Canada’s Indigenous Peoples Economic Account, released in April 2024.

Indigenous communities and businesses in the Atlantic region directly generated $4 billion in output in 2021, or 3% of regional GDP. However, this swells to $6.2 billion, or 4.5% of regional output, when all indirect and induced effects are included.

The Atlantic Indigenous economy supported 89,000 jobs in total, almost 8% of the region’s jobs. The Atlantic province with the largest Indigenous economy is Newfoundland and Labrador.

Atlantic Indigenous communities and businesses generated $2.1 billion in total tax revenues in 2021, about 4% of total taxes collected. About 90% of the total employment income earned by Atlantic Indigenous peoples is taxable.

“The impact of Indigenous economy is enormous,” says report author, Fred Bergman, Senior Policy Analyst with the Council. “It’s double the size of the Atlantic aerospace and defence industry and 27% larger than the GDP impact of the region’s agriculture industry.”

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.

Challenges facing the Indigenous economy must be addressed to close gaps and unlock the full potential of the Indigenous economy. The opportunities to grow the Indigenous economy and advance self-determination should be explored further. Challenges include access to capital, market access, inadequate access to high-speed broadband, and education gaps.

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

“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

• Over 700 Indigenous-owned businesses in Nova Scotia
• $1.5 billion in direct GDP (about 3% of NS’s GDP)
• Directly employs about 25,000 people (over 5% of NS jobs)
• $500 million in direct taxes

Newfoundland & Labrador

• Over 700 Indigenous-owned businesses in Newfoundland & Labrador
• $1.5 billion in direct GDP (4% of NL’s GDP)
• Directly employs over 19,000 people (almost 9% of NL jobs)
• $600 million in direct taxes

Prince Edward Island

• Almost 50 Indigenous-owned businesses in Prince Edward Island
• $96 million in direct GDP (1% of PEI’s GDP)
• Directly employs 1,500 people (almost 2% of PEI jobs)
• $27 million in direct taxes

New Brunswick

• Over 250 Indigenous-owned businesses in New Brunswick
• $820 million in direct GDP (about 2% of NB’s GDP)
• Directly employs about 14,000 people (about 4% of NB jobs)
• $250 million in direct taxes 

To schedule an interview with report author, Fred Bergman, Senior Policy Analyst, please contact: 

Erica Parrill 
Communications Manager 
Email:  erica@atlanticeconomiccouncil.ca
Mobile:  902-536-3616