OP-ED: Realizing Newfoundland and Labrador’s Full Potential – A Message to Our Next Premier
By: AnnMarie Boudreau, CEO, The Board of Trade
As we head into this election, each vote matters in determining the fate of our province. Newfoundland and Labrador stands at a pivotal moment. Our province has always been rich in potential, and today we have the chance to make that a reality. We are emerging as a leader in economic growth, energy innovation, and trade diversification; proof that Newfoundland and Labrador is not a region on the periphery, but a driving force of Canada’s success.
Yet, as national priorities sharpen and global competition intensifies, we cannot afford to be passive participants in shaping our future. Strong leadership, prudent fiscal management, and confident representation at the national table are essential to ensure that our province’s strengths are recognized, our industries are supported, and our people continue to prosper.
A Full Partner in the Canadian Economy
You cannot unify Canada’s economy without Newfoundland and Labrador. While our unique geographic positioning places us on the edge of North America, our province is critical to building “One Canadian Economy”. We are anticipated to lead the country in GDP growth this year. We have strong trade diversification, with over 50% of our oil exports landing in Europe. These factors create great agility which helps shield not only our province but our entire country from more severe tariff impacts.
Newfoundland and Labrador’s economy is also supported by our people who are hardworking, innovative and community minded. This directly contributes to national prosperity, bringing diverse talent, dedication, a willingness to collaborate and a spirit that sets us apart. The next Premier must also exemplify these qualities while ensuring our concerns are addressed with fairness and urgency.
Resources as a Cornerstone
Our energy sector has long been the foundation of our economy, and its potential remains vast. These resources are among our greatest assets, supporting jobs and providing critical revenue for government. They must be championed.
Recent agreements like the Churchill Falls Memorandum of Understanding show what real partnership and purposeful planning can achieve. Our next leader must demonstrate this spirit of collaboration, bold action, and taking charge of our own future by seeing this agreement through. Similarly, demonstrating readiness to take the next step with opportunities like the Bay du Nord project, and longer term planning around the development of other resources, like our critical minerals, will ensure a diversity of investment and return that is steady. With certainty, stability, and a clear commitment to resource development, Newfoundland and Labrador can lead in energy innovation while continuing to fuel national prosperity. The key is ensuring the approach is strategic, balanced, and forward-looking.
Connectivity that Counts
We know how much Newfoundland and Labrador has to offer. Businesses want to come here and grow here. However, our continued economic growth is simply impossible without adequate connectivity within our province, to the rest of Canada and to the world. If our populations are unreachable, businesses cannot invest and grow here. More concerningly, our people will continue to be underserved. We know that Marine Atlantic, our constitutionally mandated ferry service, is not meeting the traffic offering as stipulated through our terms of union. Our next Premier must ensure this issue is addressed at the federal level. This ferry service is our highway. It was a critical component of our agreement to join Canada. Even though the ferry falls within federal jurisdiction, without a Premier willing to advocate for this constitutional link, Marine Atlantic will continue to be neglected, resulting in poor outcomes and insufficient offerings.
Fortifying the Relationship with our Business Community
Newfoundland and Labrador’s economy runs on the strength, innovation, and determination of its business community. The private sector is the province’s largest employer, accounting for roughly 60% of total employment and more than 150,000 jobs. The skill, drive, and productivity within this sector are the lifeblood of our economy. It is itself a unique resource; an asset to be leveraged under smart leadership.
We invite the next Premier to engage with our diverse and robust community as a true partner in shaping a successful, future-ready Newfoundland and Labrador in a rapidly changing global landscape. We are ready to work alongside the next government as constructive partners, united by a shared commitment to building a stronger, more resilient province.
Our Voice in the Federation
The Prime Minister has set an ambitious agenda focused on fiscal discipline, trade, and national growth. Newfoundland and Labrador cannot afford to sit quietly on the sidelines. Our Premier must be prepared to advocate relentlessly for this province’s priorities and ensure our perspective is heard in every national conversation.
To the next Premier of Newfoundland and Labrador: you are our voice. Use it with clarity, confidence, and conviction. Showcase our strengths, tell our story, and secure the conditions for sustained and inclusive growth.
