From Flavour to Future: St. John's Farmers Market Empowers Local Ventures

St. John’s is seeing an emergence of diverse food offerings and flavour preferences, and the St. John’s Farmers Market Co-op is playing a supportive role. For over 15 years, the market operates weekly on Saturdays and also holds seasonal markets on Fridays, Sundays, and special occasions. The St. John's Farmers Market (SJFM) provides a vibrant space for local vendors and artisans to connect with the community, promoting local commerce and fostering a sense of community spirit.


The St. John's Farmers' Market Co-op is a social enterprise comprised of vendors and consumers who manage and operate the City’s-owned St. John's Community Market's facility space that it rents for events to help support Market activities.

New business ventures frequently face challenges, like financing their businesses, finding a market for their products and the right location. SJFM plays a role as a space for local companies to get established and grow by providing an affordable collaborative space. The Market provides a venue for local producers and makers to test their products, gauge consumer response and, according to one of the original founders, the market has been an incubator for local business.

The SJFM operates a commercial kitchen that is available to rent. Several local restaurants got their start at the SJFM including: Curry Delight, Gian’s Kitchen, Casablanca Bakery and Catering (First Halal Bakery in NL), Rockateer Treats, and Pho F&M to name a few.


The St. John’s Community Market is a key asset in (partnership of the City of St. John’s) in St. John’s offering a community space for entrepreneurs and makers to connect and build their businesses while providing consumers a chance to sample new and diverse food offerings. 

Advantage St. John's Update

Over the last three years, the City of St. John’s has shared regional economic and business development news through the Advantage St. John’s brand. After careful consideration and evaluation, the City of St. John’s in consultation with the partnering municipalities has decided to transition this branding and related marketing initiatives to the newly created regional agency for economic development. While this transition takes place, Advantage St. John’s social media accounts and website will not be updated or monitored.

 

The City of St. John’s will continue to share relevant business news and information, such as this newsletter, through stjohns.ca and the City’s social media accounts.

News Briefing

Moody's and S&P Global have revised St. John's bond rating outlook to stable and positive, respectively.

The City’s budgetary performance has been encouragingly reaffirmed by credit rating agency S&P Global. The City of St. John’s outlook was recently reevaluated by S&P Global Ratings from a rating of “stable” to “positive”. On a rating scale of AAA to D, the City continues to maintain an “AA-” status, demonstrating a very strong capacity to meet financial commitments. The City's healthy budgetary performance will accommodate financing its capital plan over the next few years, help maintain a manageable debt burden, and support liquidity balances. The City of St. John’s is the only municipality in Newfoundland and Labrador to be bond-rated.


Moody's has assigned an A1 stable rating outlook, indicating that the city is expected to maintain positive operating results over the medium term. This outlook reflects anticipated improvements in revenue generation, which should help mitigate the cost pressures resulting from recent inflation.

St. John’s and Parks Canada announce national urban park

The City of St. John's and the Government of Canada recently announced a shared commitment to explore options for the creation of a national urban park in St. John’s. The new park would improve access to nature and greenspace for residents of St. John’s as well as visitors and provide opportunities to amplify and honour Indigenous voices and stories. It would also create jobs, strengthen the local economy, and complement local and regional tourism.

At a Glance

In June 2024, the total value of building permits in St. John's CMA reached $43.9 million, marking an 86.5% increase from the previous year.

On a year-over-year basis, employment was up by 2.3% (to 119,400) in July 2024 in the St. John’s CMA.

The latest Canada Mortgage and Housing Corporation (CMHC) Société canadienne d'hypothèques et de logement(SCHL) data for St. John's metro indicates housing starts increased by 116% to 119 starts in June 2024 in the St. John’s CMA compared to the same month last year (55 starts). 

Great news from Canada's Ocean Supercluster that Phase 3 of the Ocean Startup Project | Projet Startup Des Océans will go ahead with $8 million in backing. 

In Newfoundland and Labrador Genesis is the lead for the #OceanStartupProject.

The City of St. John’s announced two new Housing Accelerator Fund incentives: grants of up to $20,000 for homeowners to build subsidiary dwelling units (apartments), backyard suites and tiny homes, as well as a fee exemption incentive program for developers who are building multi-unit purpose built rentals. 

Government of Canada Business Supports

Canada’s Trade Commissioners: helping Canadian businesses abroad

The Trade Commissioner Service (TCS) helps Canadian businesses grow with confidence by connecting them with funding and support programs, international opportunities, and a network of trade commissioners in over 160 cities worldwide. TCS can help you prepare for international markets. Are you ready to go global? Take their quiz: www.tradecommissioner.gc.ca.

Upcoming Courses and Events

Book your spot!

BDC How to start a business e-learning course Free

Aug 14 & 28 Lab 2 Market Oceans / Validate Virtual Information Session

Aug 15 econext Clean Careers: Power-up Your Personal Brand

Aug 15 Energy NL Member Social

Aug 20 Open House: City of St. John's Housing Accelerator Fund Incentives

Aug 21 Start Up Canada Women Newcomers in Business

Aug 22 National Housing Strategy Research and Planning Fund Webinar

Sep 12 the Atlantic Economic Council The Future of Electricity (virtual)

Sep 15-16 Canadian Institute of Forestry national conference

We'd love to hear from you

Do you have a good business news story to tell? Do you have feedback on what you would like to see covered in our monthly publication? Send your ideas to business@stjohns.ca

Latest Economic Indicators

City building permits August 6, 2024


Commercial permits

Up 52% from $53,750,142, in 2023 to $81,753,672 in 2024


Industrial permits

Valued at $190,000 for 2023 and $5,000,000 for 2024


Government/institutional permits

Up from $5,239,059 in 2023 to $39,923,140 in 2024*


Residential permits

Up 64% to $77,086,814 for 2024 over $46,940,846 for 2023


Repair permits

Down -3% from $863,447.38 in 2023 to $839,816 in 2024


Total value of all permits for 2024

Up 91% to $204,603,443 for 2024 over $106,983,496 for 2023


*This data does not include the full range of permit activity undertaken by the provincial government and Memorial University.

Business approvals

Pocket Prints 3D, 430 Topsail Road

ICS Beauty, 430 Topsail Road

Magic Storm Events/Bakery, 22 O’Leary Avenue

Triple J Convenience, 260 Portugal Cove Road

Greatway Financial, 141 Torbay Road

1 Stop Auto Repairs, 3-7 Cashin Avenue

Take-out café, 39 Churchill Avenue

Haveli restaurant, 11 Waldergrave Street

Pennington’s, 56 Kenmount Road        

G Salon, 140 Stavanger Drive 

Physiotherapy clinic, 18 Argyle Street


Home-based businesses




Total business approvals for 2024 = 106 (regular = 84 and home-based = 22)

Labour force characteristics as of July 2024



Labour force – 128,800 (up 3.7%)


Unemployment rate – 7.4% (up 1.4ppts)


Employment – 119,400 (up 2.3%)


Participation rate – 65.9% (up 0.5ppts)


St. John's CMA, seasonally adjusted, three-month moving average. Percentage change reflects the same month previous year. Source: Statistics Canada.

Economic indicators


The New Housing Price Index for St. John’s Metro was 106.1 in June 2024 (up 0.3%*)


The Consumer Price Index for St. John’s Metro was 162.0 in June 2024 (up 3.2%*) 


Retail trade for Newfoundland and Labrador was $996 million in May 2024 (up 2.8%*)


*St. John's CMA, same month in the previous year. Source: Statistics Canada