Why the St. John’s Region?

With a legacy steeped in maritime tradition, Newfoundland and Labrador’s Capital Region has earned its reputation as a leadrer in Ocean Excellence. A diverse ocean economy with expertise in defence and security, fisheries, marine transportation, ocean technology and offshore energy.

One of the best places in the world to receive an advanced education in ocean related programs. The St. John’s regions serves as the epicenter of Canada’s ocean innovation ecosystem and is Canada’s Ocean City Powerhouse.  Our globally recognized cross sectoral expertise in oceans continues to be one of our core advantages – of great importance in an explosive global market that is expected to double in value to $3 trillion by 2030.

• Unparalleled experience and expertise in cold and harsh ocean environments.

• The region hosts some of the world’s most exclusive ocean tech facilities and technologies. These state-of-the-art resources drive innovation, research, and development in ocean-related fields.

• The region attracts students and researchers from around the world. Its post-secondary institutes play a pivotal role in nurturing ocean talent.

• The ocean economy in Newfoundland and Labrador employs over 37,000 people annually and contributes more than $16 billion to the provincial and national economies. It accounts for over 40% of our exports to nearly 50 countries.

• With over 450 companies operating in the global ocean sector, the capital region plays a pivotal role in shaping the industry’s future.

• Situated with a two, safe, ice-free harbours and global connections, the region serves as a key port for major international shipping routes between Europe and North America.

The St. John’s region commands a strategic position in Canada’s offshore energy landscape. The province’s offshore reserves hold vast potential, particularly in the form of oil and natural gas. Companies like ExxonMobil, Equinor, and Cenovus Energy have invested heavily in offshore exploration and production, leveraging cutting-edge technology to extract resources in environmentally responsible ways.

Newfoundland and Labrador is home to numerous onshore and offshore sedimentary basins with hydrocarbon potential. Approximately 10% of available land has been held under license/permits. The province’s discovered reserves total over 4.3 billion barrels of oil and 12.6 trillion feet of natural gas. Geoscience data indicates a further 63 billion barrels of oil and 224 trillion cubic feet of natural gas in-place resource potential exists.

The Hebron and Hibernia oil fields, among others, symbolize the region’s prowess in offshore extraction. These projects not only contribute significantly to Canada’s energy security but also generate employment opportunities and foster local expertise.

Moreover, the Capital Region’s rich reservoir of talent and experience remains a cornerstone of its success, fueling innovation and driving progress across the energy spectrum. By fostering collaboration, investing in skills development, and embracing a culture of sustainability, the city is on its course towards a brighter, more resilient future.

• The province’s four major offshore projects (Hibernia, Terra Nova, White Rose, and Hebron) collectively produce approximately 25% of Canada’s conventional light crude oil.

• The oil and gas sector has accounted for 16% of provincial real GDP in 2022.

• There has been more than $20 billion in offshore royalties paid to the Government of Newfoundland and Labrador since production began in 1997.

• Over the past five decades, offshore petroleum related expenditures have totaled nearly $63 billion, including over $9 billion in exploration spending during that period (C-NLOPB 2019).

Exploration work commitments on active exploration licenses for offshore were approximately $2.1 billion as of January 2024.

With a diverse and rich history linked to the fishery, our culture and identity remains anchored to the province‘s seafood industry. St. John’s harbour is one of the most active fish-handling ports in the province.

Over the centuries, St. John’s harbour, with its close proximity to the bountiful fishing grounds of the Grand Banks and as a regional hub for global trade flows, has been one of the Atlantic region‘s largest fish handling ports – as well as a key marine transportation and energy supply and service centre.

• In 2023, Newfoundland and Labrador’s commercial fish landings and the landed value ($704 million).

• Seafood products are exported to over 40 countries with the primary markets being US (70%), China, UK, and Denmark.

• Employs 16,100 people from over 400 communities in fish harvesting, processing, and aquaculture operations.

• During 2023, there were 90 active fish processing plants in the province.

• Sustainable: 75% of fish and seafood in Newfoundland and Labrador is certified to the Marine Stewardship Council (MSC) standard (by value).

In a bid to reshape its energy landscape and spearhead the transition towards sustainable practices, Newfoundland and Labrador (NL) is actively engaged in advancing wind – hydrogen and renewable energy. With abundant natural resources and a strategic location along key shipping routes the province is positioning itself as a potential hub for exporting hydrogen to international markets, contributing to global efforts to combat climate change and meet ambitious emission reduction targets.

From research and development to production and distribution, the region offers a supportive ecosystem for companies to pioneer groundbreaking advancements in green hydrogen technology. With a skilled workforce, top-tier research institutions, and a collaborative business environment, the city nurtures creativity and propels progress towards a greener future.

• NL boasts abundant wind, hydro, and tidal energy.

• Over 90% of electricity generated from renewable energy resources.

• By 2050, NL could develop a hydrogen industry worth C$11 billion annually, supporting 140,000 jobs.

• NL aims to be a regional supplier and exporter of green hydrogen.

• Several major players in the hydrogen and renewable energy sector have established offices in St. John’s.

• Port with access to international shipping lanes.

• Wind-hydrogen fiscal framework, 5 proposed projects.

• Newfoundland & Labrador and Germany signed LOI to collaborate on green hydrogen transport.

• The capital region is the supply and service hub.

Newfoundland and Labrador’s Capital Region continues to evolve as a leading center for technology and innovation, the region’s tech sector offers boundless opportunities for growth, collaboration, and discovery. The region boasts a thriving startup ecosystem, characterized by a supportive community, access to resources, culture of innovation and specialized expertise in niche areas such as marine technology, geomatics, and remote sensing. These unique capabilities position the city as a leader in certain subsectors of the broader technology industry.

• The region boasts a dynamic tech ecosystem. Companies span various sectors, including technology, ocean research, health and environmental solutions.

• The St. John’s based innovation incubator, Genesis, offers a successive stream of programs to support start-ups from the ideation stage all the way to scaling their business.

• Co. is a dynamic new hub where technology, collaboration, and creativity converge. This cutting-edge centre serves as a catalyst for innovation, bringing together diverse minds from various sectors.

• Verafin, a financial crime management software company, exemplifies St. John’s success story. Acquired by Nasdaq in the early 2021 for an impressive $2.75 billion USD, Verafin employs 1,000, with many being graduates of Memorial University.

• Employment in the tech sector in the province was estimated at 9,726, generating $1.7 billion in revenue.

• The tech sector in Newfoundland and Labrador is poised for growth and companies are actively recruiting for new employees.

• St. John’s is actively fostering Health Tech innovation through partnerships, research, and collaborative efforts. Bounce Health Innovation is a key catalyst for health technology innovation that provides resources, networks, and support to entrepreneurs and innovators, positioning the province as a testbed for medical and health technology advancements.

• Unlike many large cities experiencing outward migration, the St. John’s region is witnessing its largest inward migration in nearly 50 years. People are drawn by the promise of a better work-life balance, affordable living, and a sense of belonging.

Our Region is a hotspot for creativity, and our artists continue to showcase our culture on the world stage. Here at home, the arts and cultural industries act as an important engine of economic growth; arts and culture drive innovation and tourism, improve quality of life, and contribute to that feeling in St. John’s that this is where exciting things happen. Business & Arts NL is an organization that fosters collaboration between businesses and the arts in Newfoundland and Labrador. Their initiatives, events, and resources aim to create partnerships that benefit both sectors, emphasizing the arts’ value in enhancing business creativity and community engagement.

The film industry in Newfoundland and Labrador’s Capital Region is a dynamic and growing sector that plays a significant role in the province’s cultural and economic landscape. Wildly successful television shows, such as Hudson & Rex and Son of a Critch, have opened the door for more home-grown productions in NL. Recent international productions have included the Hallmark Channel’s and Disney’s live-action film Peter Pan & Wendy.

The College of the North Atlantic (CNA) offers programs specifically tailored for aspiring filmmakers. It covers various aspects of film production, including TV and Film Technical Production, Creation, Post-Production, Production Management, and Visual Effects. With major film production companies like Warner Bros., Miramax, and Disney choosing Newfoundland and Labrador for their filming, CNA provides an excellent opportunity for local talent to thrive in the movie-making world right at home.

The music industry in our Capital Region is a vibrant and diverse sector that reflects the rich cultural heritage of the province while also embracing a wide range of musical styles and influences. From traditional folk music to contemporary indie rock, we have a thriving music community that has garnered both national and international acclaim.

St. John’s is also the home of the Memorial University School of Music, which since 1975 has been producing “great instrumentalists and singers, conductors, composers, sound technologists, scholars, and music educators.”

The tourism and conference sector in this region is a vital component of our economy and cultural fabric. We continue to be a hub for conferences, business conventions, and major events. The region is home to several modern conference facilities, including the St. John’s Convention Centre, which can accommodate a wide range of events, from small meetings to large-scale conferences and trade shows.

• In 2023, business events brought 20,900 delegates to the province and gross hotel room sales for the 15 larger properties were $95 million.

• Air visitation reached an estimated 304,300 in the province.

• Auto visitation reached 113,600 in the province.

• Cruise visitation was strong, with the province welcoming 69,100 unique visitors.

• Destination Canada data indicates that St. John’s is ahead of pace in 2024 over other Canadian destinations in attracting Canadian and international conferences.