Co. Innovation Centre 1^st year anniversary

Congratulations to Co. Innovation Centre (COIC) on the one-year anniversary of this dynamic hub at 710 Torbay Road. The “Co.” in COIC stands for together - a deliberate reflection of both purpose and a call to action. It signals that the challenges we face today are too complex for any one organization or sector to solve alone. “Co.” is a call to converge across industries, collaborate on shared goals, and co-create solutions with real impact. This is how COIC works- and what they ask of the businesses and partners who engage with them: bring your expertise, stay open to new ideas, and build what’s next, together.

Innovation doesn’t happen in isolation. It happens when ideas, experience, and experimentation meet. And that’s exactly what the Co. Innovation Centre was built to support. It’s more than just an office; it’s a collaborative space where innovators can come together to co-create solutions that address real challenges in Newfoundland and Labrador.  Alongside energy, mining, oceans and advanced manufacturing, COIC is prioritizing innovation in the aerospace and defense sector, supporting businesses to enhance efficiency, safety, and operational capabilities.

“This first year has been about building a strong foundation - forging partnerships, listening deeply to industry needs, and creating a space for collaboration. Now, with that groundwork in place, we're shifting our focus to bold growth and targeted expansion." Meagan Kay-Fowlow, President of Co. Innovation Centre.

COIC has become a key piece of infrastructure in St. John’s innovation ecosystem and is accelerating the province’s journey toward an innovation-driven economy. The centre is empowering industries and businesses, while pushing boundaries, connecting people and inspiring change.

Economic Outlook 2025 forecasts growth for St. John’s CMA

The St. John’s Census Metropolitan Area (CMA) is seeing strong momentum in energy and housing, with the CMA economy, as measured by GDP, forecast to grow by 5.3% in 2025.  Housing starts are forecast to rise by 21.5%, reaching 1,058 units, as interest rates ease and demand picks up. Population growth continues and is expected to reach 237,400 in 2025; household income is forecast to grow by 2.1%, and retail sales rise by 3.0%. There are some labour market shifts, with employment projected to fall slightly as construction activities associated with the West White Rose project end.

Economic Outlook 2025 report includes a special feature on the impact of tariffs which concludes that the St. John’s CMA is less directly affected by United States (U.S.) tariffs than many other regions in Canada. Only about 5.0% of local jobs are tied to exports to the U.S.

NL-based Score awarded an $89 million contract to equip Canada’s Navy with critical valve systems

In March 2025, the Government of Canada awarded Irving Shipbuilding the implementation contract to build the first three River-class Destroyers (RCD’s) for the Royal Canadian Navy. Under this contract, Irving Shipbuilding appointed Newfoundland-based Score to provide all of the valves. These valves will be integral to the vessels’ piping systems, which transport hydraulic oil, high pressure air, water and other fluids critical to each ship’s performance. Score was selected for its established Canadian operations and prior expertise in the Global Combat Shipbuilding Program. The contract will involve project management, integration, testing, inspection, and auxiliary manufacturing activities.  

Opportunities to host CNA Computer Systems & Networking students this fall

The College of the North Atlantic (CNA) is currently seeking employers to host Computer Systems and Networking students for fall 2025 work terms (September–December). These 15-week placements are a required part of the diploma program and provide organizations with the opportunity to support and mentor emerging IT professionals. Employers interested in taking on a student are encouraged to respond as soon as possible to be included in the Work Term Employer Listing. Connect with CNA to learn more.   

Support for small business: NL Wage Support Program

Looking for extra support for your business?  The Newfoundland and Labrador (NL) Wage Support Program has returned for 2025 and is now accepting applications. Eligibility requirements and the application form are available at NLWageSupport.ca. Businesses across the province with fewer than 100 employees that had at least one employee paid at the minimum wage rate between April 1st, 2024, and March 31st, 2025, are eligible to receive a one-time payment of $2,500 to $7,500 through the Program. Deadline to apply is July 31, 2025. Applications will be accepted on a first-come, first-served basis until all funds are distributed or until the program ends, whichever occurs first.