Welcome!

News Feed Item

Economic Action Plan 2014 will create jobs and opportunities in Newfoundland and Labrador

ST. JOHN'S, Feb. 14, 2014 /CNW/ - In a keynote speech today at the Newfoundland & Labrador Employers' Council's annual Employer of Distinction Awards luncheon, the Honourable Jason Kenney, Minister of Employment and Social Development, congratulated award winners on their success, highlighted the tremendous opportunities facing Newfoundland and Labrador and outlined how Economic Action Plan 2014 will help the province's economy continue to grow and create jobs.

The Newfoundland and Labrador economy has become a powerhouse in Canada, leading the country in economic growth last year and being near the top of employment gains in Canada since the depths of the global recession. By returning the budget to balance next year, the Government of Canada is strengthening Canada as a strong and stable fiscal climate that encourages investment, economic growth and job creation.

Economic Action Plan 2014 includes a number of initiatives to ensure workers in Newfoundland and Labrador have the skills needed to take advantage of these opportunities. The creation of the Canada Apprentice Loan will provide apprentices registered in their first Red Seal trade with access to interest-free loans of up to $4,000 per period of technical training. The new Flexibility and Innovation in Apprenticeship Technical Training pilot project will explore ways to allow apprentices to continue working while fulfilling the technical training requirements of their programs. Additionally, Economic Action Plan 2014 reaffirms the Government of Canada's commitment to create the Canada Job Grant, which will result in employer-driven training that leads to a guaranteed job.

Quick facts

  • According to the annual inventory of the Atlantic Provinces Economic Council, $54 billion worth of major investment projects is being developed in Newfoundland and Labrador—nearly half of all the major investment projects in Atlantic Canada.

  • Last year, more than 1 100 new projects got off the ground—an increase of 12 percent over the previous year.

  • Major projects in Newfoundland and Labrador injecting new money into the province's economy are Hibernia, with its $6 billion in expenditures; Terra-Nova, at $2.8 billion; and White Rose, at $2.35 billion.

Quotes

"Our government's top priorities are creating jobs, economic growth and long-term prosperity for Canadians. The Government of Canada will be there to help Newfoundland and Labrador take advantage of the tremendous opportunities available to it and is committed to ensuring workers in Newfoundland and Labrador have the skills required to fill the increasing number of jobs available in the province."

- The Honourable Jason Kenney, Minister of Employment and Social Development and Minister for Multiculturalism

"The role of government is to create competitive conditions to generate benefits for the people of Newfoundland and Labrador. The Newfoundland & Labrador Employers' Council is extremely pleased to have Minister Kenney join our Employer of Distinction Awards ceremony to discuss the federal government's initiatives to connect Canadians with available jobs."

- Richard Alexander, Executive Director, Newfoundland & Labrador Employers' Council

Related products

Backgrounder
Speech

Associated links

Backgrounder

Canada Job Grant

The Canada Job Grant will help Canadians get the training they need for available jobs and put skills training decisions in the hands of employers. It will provide up to $15,000 per person, which is cost-shared by employers. The Grant will be flexible enough to meet the needs of businesses of all sizes, in all industries and regions. Businesses with a plan to train Canadians for an existing job or a better job will be eligible to apply for a Canada Job Grant once implemented in 2014.

The Canada Job Grant is strongly supported by employers and other stakeholders including:

  • The Building and Construction Trades Department, AFL-CIO
  • National Association of Career Colleges
  • Canadian Federation of Independent Business
  • Canadian Manufacturers & Exporters
  • Canadian Construction Association
  • Information Technology Association of Canada
  • Welding Bureau
  • Engineers Canada
  • Progressive Contractors Association of Canada
  • Christian Labour Association of Canada
  • Canadian Home Builders' Association
  • Canadian Shipowners Association
  • Canadian Electricity Association
  • Canadian Institute of Plumbing & Heating
  • Merit Canada
  • Polytechnics Canada
  • Prospectors and Developers Association of Canada
  • Chemistry Industry Association of Canada
  • Aerospace Industries Association of Canada

Economic Action Plan 2014

To help registered apprentices with the cost of their training and encourage more Canadians to consider a career in the skilled trades, the Canada Apprentice Loan will offer interest-free loans of up to $4,000 per period of technical training and will defer interest charges and loan repayment until the recipients complete or cancel their study program. It is estimated that at least 26 000 apprentices per year will apply for over $100 million in loans.

The Flexibility and Innovation in Apprenticeship Technical Training pilot project will help reduce non-financial barriers to completing training and obtaining certification by using new learning tools such as in-class simulators, e-learning modules, remote learning sites and video conferencing. This will help apprentices continue working and earning while fulfilling the technical training requirements of their study program. This project could potentially support up to 12 multi-year projects through reallocations of $13 million over four years starting in 2014-2015.

The Government will ensure increased awareness of existing financial supports available through Employment Insurance (EI) so apprentices can start to receive benefits more quickly while on technical training. Through EI's Supplemental Unemployment Benefit plan, employers can also invest more in apprenticeship training by choosing to top up an apprentice's benefits by up to 95 percent of his or her normal wage.


SOURCE Employment and Social Development Canada

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
18th Cloud Expo, taking place June 7-9, 2016, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some...
@DevOpsSummit taking place June 7-9, 2016 at Javits Center, New York City, and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
How will your company move to the cloud while ensuring a solid security posture? Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is ...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
SYS-CON Events announced today that IBM Cloud Data Services has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. IBM Cloud Data Services offers a portfolio of integrated, best-of-breed cloud data services for developers focused on mobile computing and analytics use cases.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...