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St. John's : Industrial Snapshot - Q4 2013

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St. John's : Industrial Snapshot - Q4 2013

It was announced in December 2013 that the Muskrat Falls energy megaproject - including development of a hydroelectric plant in Labrador, with transmission to the island of Newfoundland and then on to Nova Scotia – had secured $5 billion in financing on a 40 year term at 3.8%. Capital expenditures for 2013 within the province are anticipated at just over $11 billion, with half of that from the mining and oil/gas extraction industries. This is an increase of almost 40% from the previous year. However, expenditures across other sectors remained relatively stable. Labour income was up 5% from the previous year, with average weekly earnings up 3% to $ 965.05 in October 2013.

Source : Cushman & Wakefield

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