P.E.I. teachers have voted in favour of a new collective agreement between the province's Education Negotiating Agency and the P.E.I. Teachers' Federation.

The vote was held Wednesday and the results were released Thursday after the members were informed.

"Given the challenging economic times that we're in, we were very glad when we got to the table to see that we were indeed able to engage in collective bargaining," said Carrie St. Jean, president of the P.E.I. Teachers' Federation.

"There had been a lot of rhetoric, a lot of talk before we went into negotiations about the financial climate."

The three-year deal covers the period from July 1, 2010, to Sept. 30, 2013.

The agreement includes a salary increase of one per cent in the first year, two per cent in the second year and three per cent in the third year of the contract.

St. Jean said the new contract sets aside $200,000 to address issues of class composition, including when a teacher has a high number of students with special needs. The money will be available for extra help in the classroom in such situations.

"Teachers and government, we've both been reasonable during these times and we did have a majority accept the tentative agreement," said St. Jean. "So I think that speaks for itself."