After busy year, Summerside expecting more economic growth in 2020

After a busy year of economic growth, the chair of Summerside's economic development committee says he expects 2020 to be even busier.

Coun. Brian McFeelydescribes 2019 as a year of "significant spikes in economic activity" for the city.

"Certainly the building, both commercial and residential construction, would support that," McFeely said.

McFeely said the value of construction permits in Summerside was up to about $40 million in 2019 an increase of more than 60 per cent of over the previous year. That included increases in both commercial and residential permits, with more than 130 new residential lots and 150 apartment starts.

'The stars are aligned'

McFeely said the growth in construction is a sign of the overall growth within Summerside including new business startups, and more immigrants choosing to settle in the city.

"Immigration is certainly a big part of the key in sort of moving the economy forward," McFeely said.

"Immigration from all over the world will result in significant business startups in Summerside. It has in 2019."

McFeelycredits a number of factors, including a business incentive program established by council in 2013, as well as changes to the Provincial Nominee Program. He also saidefforts by the city to attend conferences, and welcome prospective business owners to Summerside to show them what the city has to offer have paid off.

"It just seems to be that the stars are aligned or something," McFeely said."In 2019 a lot of the legwork that's been done for the last several years is kind of coming home to roost and so we're seeing more and more of those opportunities arise."

One example of recent success, McFeely said, is the announcement of expansion plans for a U.K.-based biotech company. Connective Touch has been partnered with the city for a number of months, and now plans to expand its operations to Summerside.

Challenges ahead

McFeely said he expects "significant growth in 2020," but said the focus on economic growth shouldn't happen in isolation.

"Now the challenge of course is you know to find the space for these folks, to find housing for these folks, to find, you know, medical services," he said.

"That's a big question when they're coming, schooling for their kids. So it needs to be a comprehensive approach."

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