Big Events: Big Impact!

Hosting major business and sporting events have a significant impact on the local St. John’s economy. From the ECMA’s to the Gland Slam of Curling, these events generate revenue, attract tourism, and provide a platform for local businesses to showcase their products and services. In 2025 the city is expecting an increase in tourism activity and economic growth due to the influx of visitors around the Canada Games and the Year of Sport in Newfoundland and Labrador.  

Last week’s five-day East Coast Music Awards & Industry Conference kicked off the start of festival season in St. John's, attracting industry professionals, talent buyers, musicians, and media. The ECMA Accelerator Program creates business development opportunities, including export, as well as training for the Atlantic Canadian music industry with 120 Canadian and International talent buyers attending the 2025 ECMA’s. With over 2,800 attendees from out-of-province and 400 artists, the event has an estimated economic impact of $6 million.

Community Futures, a community-driven, economic development initiative designed to support small businesses in Canada’s rural areas, recently brought over 900 delegates to St. John’s. It’s just one of the many conferences that have decided to host their event in St. John’s this year.  

From August 8 to 25, over 5,000 athletes, coaches, and managers will take part in 19 different sports in the largest multi-sport event in Canada. With a forecasted economic impact of over $120 million, the 2025 Canada Games will be one of the largest events hosted in St. John’s.

Cruise ships will be visiting the Port of St. John’s from May through mid-October, with the first cruise visit expected May 21-22. The 2025 cruise season has 40 visits scheduled from May through mid-October with 39,748 passengers. The 2024 cruise season saw 34 visits with 35,217 passengers.

With additional events and festivals that include Iceberg Alley Performance Tent, Churchill Park Music Festival, the annual George Street Festival and the City’s own Music@ Concert series plus others, St. John’s businesses and tourism operators will feel the residual economic benefits coming to the region over the course of these events.

Delegate spending makes a significant contribution to the city’s tourism sector by injecting new money into the local economy and supporting local businesses. In 2024 there were 102 conferences/events held in St. John’s with a total delegate number of 21,891, according to Destination St. John’s.  

Fees reduced for Parklets

In response to feedback from the business community, City Council voted to eliminate the portion of fees previously charged to recoup lost parking revenue for parklets located on City-owned land, such as sidewalks or on-street parking spaces. Previously, a typical parklet installed in a metered parking space was charged a lease rate of $27.50 per square foot per year, based on lost parking revenue. Under the new structure, that fee has been reduced to $2.50 per square foot per year, aligning with the rate for non-revenue-generating City land. Businesses will still be required to pay applicable application and permit fees.

A parklet is a seasonal patio or outdoor seating area, often located on sidewalks or parking spaces, that provides businesses with additional outdoor service space. Parklets can be installed anywhere in the city from late May to the end of October. They are a key part of St. John’s vibrant summer streetscape, particularly in the downtown core. Learn more: www.stjohns.ca.

NL and NB Trade Deal

Newfoundland and Labrador (NL) and New Brunswick (NB) have signed a memorandum of understanding (MOU) to explore breaking down trade barriers between the two provinces and improve labour mobility. As part of the MOU, any trade related credential held in NL or NB would be honoured in the other province. It’s all part of efforts to reduce interprovincial trade barriers, in concert with the federal government to improve the flow of workers, goods and services across borders. There will be exceptions where barriers remain in place, for instance, minimum processing requirements in the fishery and labour agreements like those connected to hydroelectric projects and the Atlantic Accord. Newfoundland and Labrador is New Brunswick’s fourth-largest trading partner based on two-way trade.

econav - NL's Green Career Hub

Econext has launched econav, Newfoundland and Labrador’s new online hub for green careers. Find local job opportunities, explore training resources, and access a green jobs bank — all in one place. Employers can also post jobs and reach an audience ready and excited to work towards the same goals as their organization. 

NL startups raised $81M in 2024

New data from the Canadian Venture Capital and Private Equity Association shows that technology companies in Newfoundland and Labrador (NL) rank fourth in the country, with $81 million in Venture Capital raised in 2024. The financing deals in NL were led by St. John’s-based CoLab Software’s $28 million funding round and a raise of $11 million by Mysa Smart Thermostats. The technology sector continues to be a powerful economic force, contributing $1.8 billion to the provincial economy’s $39-billion Gross Domestic Product in 2023, up 24% from 2016.