The Fredericton Chamber of Commerce congratulates Opportunities New Brunswick for bringing 100 high-paying cybersecurity jobs to Fredericton with global leader IBM.

Fredericton Chamber of Commerce

“With pending civil service reductions negatively affecting the Capital Region’s economy, this announcement is welcomed and needed,” said Chamber President Stephen Hill. “After being in the city for five years, this announcement is a sign that IBM Canada believes in what we are doing as a community.”

The Fredericton Chamber of Commerce is a strong proponent of the City of Fredericton’s Vision 2020 economic development plan. A core component of that plan is leveraging the information technology infrastructure in the city as well as the talent and research at the city’s post-secondary institutions, particularly UNB.

“Any new high-paying jobs in the region is reason to celebrate,” said Krista Ross, chamber CEO. “But particularly so when there is substantial alignment between these jobs and the city’s pre-existing economic development plans - leading to a larger cluster and hopefully more growth in the area.”

Job growth in cyber-security will be a benefit to many different types of small- to medium-sized enterprises.

“Studies have shown that high-paying jobs in the information and communications technology sector has an economic impact multiplier of four to five times,” added Ross. “So the impact of IBM Canada expanding their New Brunswick operations goes well beyond those individuals and the taxes they’ll pay to government. With the announcement that the small business tax rate will also fall 0.5% on April 1st, this has been a good week for small business in New Brunswick in terms of the provincial government.”

The Fredericton Chamber of Commerce looks forward to continuing to work with ONB and other provincial government agencies to identify opportunities and grow the economy.

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