Strong Immigration Continues to Bolster Rental Demand

Green industries provide long term, sustainable growth.

1. Aerospace is one of the fastest growing sectors of the PEI economy, which now represents 25 percent of total provincial exports. Employment growth in aerospace is at over 15% per year. This sector accounts for over 800 employees and export sales approaching $300 million yearly.
2. Today, there are over 30 Bioscience companies on PEI, and together with the informationtechnology sector, have combined sales of almost $100 million, and provide over 2,000 jobs.
3. Building on research capacity at the Wind Energy Institute of Canada and University of PEI, 18% of the province's electrical needs are furnished through a combination of provincially owned and private wind developments. 
4. The new $1 billion 500 MW big wind development is planned to take place over the next four years.

Attracting private & public investment capital
through tax friendly initiatives

1. The value of building permits increased 39.5 per cent in 2010. Non-residential permits increased 67.1 per cent during the year, while residential permits increased 24.2 per cent.
2. Prince Edward Island offers generous tax and labour rebates which support the Island economy.
3. In addition to already being a tax-friendly province, a new Progressive Tax Rebate Program has been introduced on Prince Edward Island. This includes four new tax credits for business.

Investing in infrastructure gives access to major markets

1. Charlottetown Airport Terminal Expansion will enable Charlottetown to capitalize on economic growth opportunities and will facilitate increasing traffic through the airport. Total Investment: $3.5 million.
2. Confederation Bridge: Intelligent Transportation Systems (between PEI and NB) This project involves installing intelligent transportation systems to increase efficiency, safety and reliability for the users of this critical transportation corridor. Total Investment: $2.68 million.
3. Route 1 Improvements: Proposed realignment for locations along the Trans-Canada Highway to improve safety, efficiency and access control. Total Investment: $16 million. 
4. Its’ central location in the province makes it a natural transportation hub. Within 4 hours drive there are 2.4 million people, 18 cities, 19 universities and 27 community colleges.
5. By air, the airport has daily return flights to Montreal, Halifax, Toronto, Ottawa, and Boston, which results in 280,000 passengers per year. 

Translating into population growth

1. With over 58,600 people in the Greater Charlottetown Area, the population is expected to grow to 66,690 by 2021. 
2. KPMG's Guide to International Business Locations for Atlantic Canada, ranked Charlottetown 4th in terms of business competitiveness.
3. Charlottetown enjoys a strong public sector. The city also hosts the University of PEI, which supports the Atlantic Veterinary College and Holland College – attracting students that are looking to build success through education, research and development.
4. Charlottetown’s tourism is a significant economic driver – generating 10% of its GDP. 
5. Residential rental vacancy rates declined in 2010 as fewer new units were added to the local market and in-migration remained strong. It is expected this trend will reverse with the market hitting 4.0 percent in 2011 then decline to 3.5 percent in 2012.