Economic development agencies across Atlantic Canada like Envision Saint John: The Regional Growth Agency (ESJ) are driving the economy forward and helping communities and young entrepreneurs reach new heights, break barriers and innovate.
Programming to help foster start-ups and attract more visitors
Today, Wayne Long, Member of Parliament for Saint John-Rothesay, announced total investments of $660,000 through ACOA's Regional Economic Growth through Innovation (REGI) and Business Development Program (BDP) to ESJ. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.
This support is helping ESJ deliver its Impact Loans Investment Fund, which helps young entrepreneurs access seed capital loans to start a business. The Fund offers small business loans of up to $25,000 to young adults aged 18 - 39. In addition to financing, the seed capital program includes access to business skills training, networking and coaching.
ACOA investments also helped ESJ implement a tourism marketing campaign throughout Atlantic Canada and Ontario called "Saint John & the Towns by the Bay". ESJ's campaign contributed to the Saint John Region seeing a 112% increase in overnight visitors from the Ontario market in 2022 over 2021 and a 12.8% increase in Maritime overnight visitors. Currently, ESJ is building on the momentum of last year's campaign with targetted ads to encourage even more visits to the region in summer 2023.
Today's announcement further demonstrates the Government of Canada's commitment to support organizations that are helping to contribute to their communities and grow the economy.
