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Prince Edward Island Business

Prince Edward Island businesses enjoy many competitive advantages. The island province boasts modern infrastructure, a highly skilled work force, low turnover rates, access to major markets, and a quality of life that is second to none (affordable housing, little traffic, natural beauty, low crime rates, great educational institutions, and universal government-funded health care). In addition to the traditional Prince Edward Island business sectors of agriculture, fisheries, transportation and tourism, the province is also focusing on areas of innovation as a means of growth and diversification. High-tech industries such as aerospace, renewable energy, information technology, and biosciences are now amongst the fastest growing sectors of the PEI economy.

  • agriculture - Agriculture, along with food products processing, is the dominant industry in the provincial economy. PEI accounts for roughly one third of Canada's total potato production and is a major producer and exporter of seed potatoes. Other key agricultural outputs include dairy, hogs, beef cattle, poultry, hay, grains, oilseeds, fruits (apples, berries), vegetables, and tobacco.
  • fisheries and aquaculture - Many of the province's coastal communities rely upon shellfish harvesting, particularly lobster, snow crab, oyster and scallop fishing, plus mussel and oyster farming. Other important commercial species include groundfish (cod, hake, flounder, redfish), pelagic species (herring, mackerel), as well as farm raised Atlantic salmon, trout and halibut.
  • transportation - PEI is home to year-round ports, major air cargo routes, and high-bulk land transportation (giving it excellent access to North American and European markets).
  • aerospace - Aerospace has developed into the fastest growing industry on Prince Edward Island. Ten companies now employ over 900 people and are responsible for sales in excess of $362 million annually (innovationpei.com). One of the major attractions of PEI is Slemon Park, a 1,500 acre business park with ideal features for aerospace companies.
  • renewable energy - PEI has established itself as a North American leader in wind energy, as well as other sustainable biomass and bio fuel initiatives. At present, approximately 15% of electricity consumed on the island is generated from renewable energy (largely wind turbines), with a goal of 30-50% by 2015.
  • information technology - An ideal near shore location situated between major North American and European cities, PEI's information technology sector is experiencing sustained growth across many areas including: independent software development, financial services, aerospace, wireless and mobile applications, and gaming.
  • biosciences - Over 30 bioscience companies have internationally recognized expertise and infrastructure related to nutrition, cosmetics, treatment of diseases of aging and obesity, infection and immunity, ag-bio and specialty oils, fish health products, contract manufacturing and diagnostics. Several PEI technology centers, including Bio|Food|Tech and the Holman Centre, offer state-of-the-art facilities to bioscience based businesses.
  • tourism - PEI offers breathtaking natural landscapes and seascapes, unparalleled hospitality, fresh Atlantic seafood, miles of sandy white beaches, championship golf courses, and historic cities (such as Charlottetown, the provincial capital and Birthplace of Canada).
Prince Edward Island flag
  • population (2006): 135,851
  • population (2011): 140,204
  • median age: 42.8 years
  • spoken language: English
  • area: 5,660 km² (2,185 miles²)
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Prince Edward Island Info


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