FREDERICTON – Canopy Growth’s $39.9-million investment in a new production facility in Fredericton is the result of New Brunswick’s ‘go-getter’ attitude when it comes to opportunities stemming from marijuana legalization, said CEO Bruce Linton.
“New Brunswick has been the most efficient, orderly, aligned province in the country,” he said. “There’s a reason we set up here. It’s because these guys were on the game two years ago.”
The investment includes the creation of 136 jobs over the next six years. The jobs are estimated to generate provincial income tax revenue of $6.5 million and contribute $61.2 million in direct GDP for the province over a six-year period.
“I just thought New Brunswick was extremely focused on how to get in front of this and do it best, and the effect has been they’ve gathered more support in jobs, and suppliers and producers that you wouldn’t have seen in any other province of this population,” Linton said.
The positions Canopy Growth will create include lab supervisors, technologists, growers, post-harvest crews, quality assurance experts, maintenance crews, as well as shipping and on-site retail staff.
Premier Brian Gallant said Canopy Growth’s investment highlights the strengths of the province’s fast-growing cannabis industry and his government’s New Brunswick Economic Growth Plan. Cannabis has been identified as a strategic opportunity in the plan.
“We are [pursuing] the economic opportunities created by the legalization of cannabis by the federal government,” said Gallant in a release. “When world-leading companies like Canopy Growth choose to invest in New Brunswick because of our skilled workforce, it reinforces that our multi-year economic growth plan is working.”
Cannabis research is being conducted in universities in New Brunswick and training courses are being offered at the Collège Communautaire du Nouveau-Brunswick. Opportunities NB (ONB) estimates up to 3,000 new jobs will be created in the sector by the end of 2022.
ONB is the Crown corporation that seeks to attract and support opportunities to grow our the economy and create jobs. It’s investing $1.3 million to support Canopy Growth’s move, which will contribute to the province’s economic growth.
New Brunswick’s economy has seen continued expansion, with real GDP growth of 1.9 per cent. Since 2014, the economy has expanded 5.5 per cent.
Wages and salaries also rose 3.3 per cent last year, the second consecutive year of growth greater than three per cent. Meanwhile, public and private capital investment increased for the fourth straight year to $3.6 billion.
“A lot of people think this is just about marijuana. No. This is about the whole ecosystem of jobs and distribution. And the rest of the world’s watching,” Linton said.
“New Brunswick has a world-class cannabis ecosystem and a skilled workforce. It was an easy decision for us to locate here.”
Canopy Growth operates in 10 countries and has plants in Denmark and Australia.
This post is sponsored by the Government of New Brunswick.