Newsletter

Summerside is experiencing growth in all sectors of the economy and investment inquiries have seen a substantial rise in 2018, year to the end of September. This is leading to a resurgence in business confidence, investment in our community and a significant rise in labour opportunities. 
 
We know that companies invest in trust, good information and sound business fundamentals, and Summerside has certainly made its mark in all three areas. Our core sectors, as well as our ancillary business, are seeing increased investment and growth. 
   

• Standard Aero — Up to 80 new jobs and 30,000 square foot expansion. Currently employing 465. Increasing current capacity on turboprop engines from 800 to over 1,050 engines annually.
   
• Careworks — Relocation and expansion into Holman’s Centre. Looking to grow from 80 to 100 positions, providing services for IT management, automation, security and a full-service desk as well as anchoring their Healthy IT operations.
   
• Spinnakers Landing — Welcoming fresh faces to their Retail and Tourist Boutiques.
   
• Loyalist Hotel – Purchase, renovation and re-branding of the Loyalist in Downtown Summerside. Earmarked for $1.1 million facelifts and re-branded under the Best Western Signature Collection.
   
• IO Solutions — Looking to grow another 50 positions at their Summerside facility which already employs over 175 people.
   
• Downtown Office Real Estate — Acquisition of two major office complexes with major renovations and leasing plans set to begin within the next several months.
   
• ADL — Additional investment of over $5.4 million in capital and expansion upgrades to support increased dairy processing demand.

New inquiries from a variety of sources have also seen a substantial increase with existing companies looking at expansion and new enterprises seeking a near-shore location to supplement international operations. Inquiries to date — representing everything from aerospace and light manufacturing to IT operations — have topped over 70,000 square feet of inquiry. Coupled with interest from the Provincial Nominee Program and investment potential to fill gaps in the Summerside economy, the City is on a very positive upward trend.
 
Investment in construction (end of September) has again seen a marked increase in most sectors with an overall increase of over 14.5% since 2015. Commercial and Industrial investment has seen an increase of well over 15% since 2015 and over 82% more than last year. Most of this surge in commercial/industrial activity has been from businesses investing in the existing building stock. It represents all sectors of the economy including retail, service and industrial operations.
 
Summerside has worked diligently over the years, building relationships with the existing business community to mine opportunities, as well as marketing and promoting Summerside as a destination for investment. Those efforts are now being seen to pay dividends.