Business rallying for immigrant investor program
Last Updated: Wednesday, January 21, 2009 | 5:00 PM AT
CBC News
P.E.I.'s business community is coming out in support of a controversial program that funnels investment money from immigrants into the Island's small businesses.
Garth Doiron of the Summerside Chamber of Commerce says politics needs to be taken out of the discussion about the Provincial Nominee Program. (CBC) The immigrant partner section of the Provincial Nominee Program started in 2001 and ran through to September last year. A new version of the immigrant-investment aspect of the program — which is a federal-provincial partnership — is now in place but has different investment criteria that are out of reach for most Island businesses.
Not long after the original program ended, questions were raised about the quality of companies supported by it, and the direct involvement of government MLAs and senior civil servants.
While acknowledging there may have been problems with the program, the business community is urging people to keep in mind it brought much-needed business investment to the Island.
"Small business on P.E.I. needs a program like that," Don Cudmore, executive director of the Tourism Industry Association of P.E.I., told CBC News on Tuesday.
"It certainly helped [tourism operators] get through the last couple of tougher years."
Provincial Treasurer Wes Sheridan said he has been hearing about the need for the PNP program as he carries out his pre-budget consultations.
On Tuesday, Garth Doiron, president of the Summerside Chamber of Commerce, said: "It's become a political issue and we think that needs to end.
Cathy Hambly said the benefits of the immigrant partner area of the PNP program need to be remembered. (CBC) "Proactive steps [need to be] taken to make sure it [the immigrant partner program] continues in the future."
Cathy Hambley, executive director of the Charlottetown Chamber of Commerce, had a similar message.
"Not everything worked 100 per cent properly, or maybe the communication wasn't what it might have been and so on, so forth," she said.
"But I don't think we can lose sight of the overall benefit of this program to our business community and the broader community at large."
Sheridan believes the program is shielding the province from the worst of the current recession.
"We were the only community to grow east of Manitoba, so there's no question that immigration has been a big factor in why our numbers are where they are," he said.
The original program that ended in September required immigrants to put up $200,000 each.
The new program negotiated between Ottawa and the provinces requires $1 million.
