Growing Local Economy Focus of Saint John Retail Conference
SAINT JOHN – One of the world’s largest trade organizations is hosting a day-long economic development conference in the Port City March 21.
The International Council of Shopping Centers (ICSC) is the global trade association for the shopping-centre industry. Its mandate includes helping local and regional governments work with retailers, developers and investors to create and improve economic opportunities. The event will bring together municipal and provincial officials as well as industry leaders.
“People are surprised to learn the retail industry is New Brunswick’s largest employer representing between 12 and 15 per cent of the total workforce,” said John Johnston, ICSC Ambassador and conference chair.
“What’s even more impressive is the fact that one new job is created for every 400 square feet of new retail development. Therefore, a typical large 300,000 square foot shopping centre creates 750 new jobs and generates $1.5 million in new tax revenue annually.”
The conference will showcase some of the industry’s leading experts including a keynote address by Lacy Beasley, vice president of the renowned development firm Retail Strategies, of Birmingham, Alabama. New Brunswick’s economic development minister Rick Doucet will also make an address.
“I believe there is an acknowledgement in government that the retail sector is a significant driver of economic activity but that it is often overlooked for its contributions,” Johnston said.
The ICSC’s Atlantic Canada Government Relations Section is organizing the Saint John conference. Speakers and presenters will focus on the theme of stimulating the local economy and the role retail developments play in powering that growth. It will be held at the Diamond Jubilee Cruise Terminal, 111 Water Street from 10 a.m. to 4:30 p.m.