DOING BUSINESS IN Newfoundland and Labrador, CANADA
Government of Newfoundland and Labrador
1-709-729-1619
mcluett@gov.nl.ca
www.gov.nl.ca/iet/invest/

TARGETED GROWTH SECTORS
Energy Sector: Newfoundland and Labrador is Canada’s only offshore oil producer with low emissions per barrel compared to the international average and a strong environmental, social and governance structure. A world-class wind resource is driving establishment of a wind to green hydrogen industry with six major projects under development that propose to install over 18 GW of wind capacity.
Critical Minerals and Mining: With over 30 internationally recognized critical minerals, the province offers unparalleled opportunities for mineral exploration and development backed by a clean hydroelectric grid, and potentially wind energy or green hydrogen.
Technology Sector: Valued at over $1.3 billion, with $80 million in venture capital raised in 2024, the province’s tech sector is innovating in financial services, health tech, ocean tech, aerospace and defense, SaaS, and AI, and its clients include some of the world’s leading manufacturers and service providers.
FAST FACTS
Population (July 2024 est.): 545,241
Real GDP (2022): $40.7 billion2
¹ Statistics Canada
² Government of Newfoundland and Labrador