Stephen Wetmore

Taking advantage of the New Economy opportunities in Atlantic Canada

by Stephen Wetmore

Like the successful merger that created Aliant, the federal government's new Atlantic Investment Partnership is an opportunity knocking on the door to our region's future. This initiative is a signal that Ottawa is now properly focusing its investments so that Atlantic Canada and its people can succeed in the new information economy. It is particularly encouraging to see that the areas targeted for an investment - innovation, research and development, training and regional development funding - are consistent with the needs that the region's business community have already identified.

By any measure, Atlantic Canada has the potential economic base. It possesses natural resources beyond the scope of many countries with much larger populations. It also understands the importance of trade in creating wealth. And the current generation of youth is demonstrating some very positive new attitudes. According to a recent survey, more than 50 per cent of young people indicated that they would prefer to start and lead their own businesses, rather than work for others. That is an essential shift from the mercantile mindset of the past to the entrepreneurial skills of the future.

But there are some serious gaps that urgently need to be addressed. In its 1999 report - IT and the Knowledge Economy in Atlantic Canada - the Atlantic Provinces Economic Council stated that "regardless of how the data is analyzed, it is unambiguously clear that Atlantic Canada's manufacturing industries are not adopting technology as quickly as the rest of Canada."

This cannot continue and we are seeing signs of change. There are leading businesses like Clearwater Fine Foods using e-commerce to market its products worldwide, and Sobey's is using advanced data technologies to manage its inventory, shipping and general business operations. Similarly, the use of technology in our offshore oil and gas and marine industries is creating new knowledge and skills transfer. The benefits of such efforts in supporting a knowledge-based economy should not be underestimated.

A $300-million boost for Atlantic Canada

Just as importantly, we see examples of innovation in the delivery of health services through telemedicine throughout the region and a growing focus on technology education and distance education programs by educational institutions. Even artists are experimenting with the use of technology to create, and sell their products. This is why Aliant endorses the decision to earmark $300 million for an Atlantic Innovation Fund, with the specific goal of fostering innovation and technology.

This investment is timely and helpful in encouraging the adoption of new technologies by small and medium businesses, the extensive resource sector, and for the effective delivery of public services. As the region's largest telecommunications and IT employer, Aliant supports this strategic investment in a sector that has already demonstrated its success, and which holds enormous potential for growth in our region.

The information-based economy makes it possible to create many more ways of generating revenue. It's an economy of innovation, and Atlantic Canadians, better than anyone else, understand the need to adapt and innovate. Whether it's a fish processor using e-commerce to market product, an artist employing new media to show works, or a farmer applying the Internet to research pest management practices, there is evidence of the happy marriage between tradition and innovation.

At Aliant, we firmly believe in innovation and we are investing heavily -- on our own and in partnership with others - to develop applications for innovative new technologies, products and services that will not only benefit Atlantic Canadians, but can be exported to customers around the world.

Stephen Wetmore is president and CEO of Aliant Inc, a BCE Inc subsidiary and holding company for incumbent telcos in Atlantic Canada, xwave, Innovatia and Stratos Global Corp.