More Important Than Ever
What a difference a year makes. The economy was flying high. Oil was $130 per barrel. Iron ore was $180 per tonne. The TSX soared through the 14,000 mark. The Canadian economy was on overdrive. Today we are in the midst of one of the quickest-arriving, fastest-spreading, deepest global recessions we have ever seen.
Last year in our province, we shipped $6.6 billion worth of products that were produced right here. We employed, directly and indirectly, 35,000 people in manufacturing. While Newfoundland and Labrador is weathering the economic storm fairly well in comparison to some other provinces, our industry needs all the help it can get right here in our own back yard. Now more than at anytime in the past decade it is important that we support our own, and buy locally-made products. Those 35,000 people, and their families, are counting on your support.
During difficult economic times, two things become even more important; supporting local businesses by purchasing their products, and being part of a strong national industry association which is standing up for you and your issues. CME delivers both and as your industry association we are at work for you provincially, nationally and internationally making sure that the business environment is as supportive as it can be.
Chair, CME Newfoundland and Labrador