We have a special edition of the Insights podcast this week. As many of you will know, Don has been heading up the Atlantic Economic Panel - an initiative that has brought together some of the region's top business leaders and thinkers to develop a roadmap for the future prosperity of the region. Don summarizes the panel's work to date and offers insight into the final report and recommendations. A key theme? We need more ambition at all levels across the region. The next 15-20 years could be a time of great prosperity, but there is still work to be done. There will be enablers (e.g., regulations, tax environment, workforce, population growth, etc.) and specific major economic opportunities (e.g., natural resources, energy, defence, etc.). If you want a sneak peek into the work of the Atlantic Economic Panel, grab a coffee or tea, put on your headphones and carve out 50 minutes of your day.

The Marco Group was founded in St. John’s, NL, in 1979 by the late Tom Hickman, whose family still retains majority ownership of the company. The company decided to expand into the rest of the region in the early 2000s. That is when Allan MacIntosh, the company’s President, joined the company as a co-owner and set up offices in Halifax. MacIntosh is our guest in this episode of the Insights Podcast and talks about the company’s growth over the past couple of decades. About 60% of the company’s work is now outside of Newfoundland & Labrador. Marco has over 100 employees, with the majority based at its head office in St. John’s. Since its inception, the company has built billions of dollars' worth of buildings across the region. Since moving into the regional market, its revenue has grown from $30 million to $300 million per year. The company often works with major national companies such as PCL and Ellis Don and is involved in long-term care facilities, hospital construction, multi-residential buildings, recreational facilities, and commercial buildings. MacIntosh discusses the challenges of recruiting skilled workers, the opportunity for direct entry into the workplace for those interested in the trades, and the company’s efforts to retain employees.

Our guest this week on the Insights Podcast is Elisa Obermann, the Executive Director of Marine Renewables Canada (MRC), an industry association headquartered in Halifax with more than 200 members. In this podcast, Elisa talks about the various forms of marine renewable energy, including energy from rivers, waves, tides, and offshore wind. The focus of her association is advocacy and the development of a robust supply chain for renewables in Canada. Interestingly, MRC's recent conference attracted more than 700 attendees, underscoring the growing interest in this sector. The biggest opportunity is clearly offshore wind, where MRC has set a goal of 30 GW by 2050. For perspective, Nova Scotia currently uses about 2.3 GWs of electricity annually. Tidal, by contrast, is expected to generate only about 1 GW of electricity over the same time period. It is interesting to note that one offshore turbine will provide electricity to about 15,000 households, while one on-shore turbine will provide electricity to between 2-3,000 households. Obermann discusses what is needed to realize offshore wind's potential, including investment tax credits and transmission infrastructure. It is an excellent overview for those following Premier Houston's Wind West project.