The MidCoast economy at a glance Gross Regional Product
industry value added
EMPLOYED PERSONS
$4.79b
$3.5b
9% growth
6.2% growth
(2023)
since 2018
(2023)
since 2018
TOP INDUSTRIES BY EMPLOYMENT Health and Social Assistance
Construction
of total
of total
7,224 20%
4,556 13%
Construction
4,121 12%
4,556 65%
45% OF REGION’S TOTAL COMBINED LABOUR FORCE
tourism in
35,546
$1,741.1m
$134,783
visitors
5.6% growth
-6.7% growth
3.1% growth
visitor expenditure
(2023)
since 2018
HIGHEST EMPLOYMENT GROWTH SINCE 2018
Retail TRADE
of total
EXPORTS
productivity per employed person
Public
Administration
Information Media and
and Safety
Telecommunications
growth
growth
1,543 20%
(2023)
since 2018
(2023)
since 2018
total INDUSTRY value add (IVA) Health and Social Assistance
Construction
of total
of total
2.23m* 879m*
*2-year average YE23
GROWTH IN IVA VS 2018
Retail TRADE
383 18%
$564.7m $362.1m $322.7M 10% 9% 16%
HIGHEST GROWTH INDUSTRIES
36% OF REGION’S TOTAL COMBINED IVA
growth
2023
of total
Information Media and
Telecommunications
$59.1M 88% growth
Professional, Scientific and Technical SERvices
Administration and Support Services
$34.5M $30.8M 24% 25% growth growth
HIGHEST IVA GROWTH INDUSTRIES
IVA (Industry Value Added) and GRP (Gross Regional Product) differ in that IVA measures the value industries add, calculated as total output minus intermediate goods costs. GRP, however, includes IVA plus rents and imputed rents, which contribute to the economy but aren’t linked to specific industries. This inclusion explains why GRP is always higher than total IVA, as shown in the diagram and the report.