The provincial government has launched an economic development strategy with an eye on making Manitoba a “have” province by 2040.
Premier Wab Kinew made the announcement during a private sector-led 2025 leader’s forum Thursday. The economic strategy was noted in the province’s 2025 budget.
A focus is on Manitoba’s productivity, Kinew said. He pointed to decreased productivity within Manitoba and nationally.
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Premier Wab Kinew announces the release of Manitoba’s new economic development strategy Thursday. The province aims to boost its gross domestic product per capita by $5,000 relative to other provinces by 2040.
Productivity — looking at inputs, such as time and money, compared with outputs contributing to GDP — has been declining in Manitoba since 2015, Kinew said.
He laid out a list of policies included in the new strategy.
Manitoba will fund a $50-million financing program for businesses to make “productivity-enhancing” investments. The first tranche, Kinew said, will be spent on trade-exposed sectors.
The province is increasing its small business venture capital tax credit by more than one-third, reaching up to $30 million for small business venture capital. Government is removing the provincial sales tax from manufacturing equipment for manufacturers.
More trade offices, similar to one recently opened in Washington, D.C., will be incoming, Kinew said.
Government aims to boost Manitoba’s gross domestic product per capita by $5,000 relative to other provinces by 2040, Kinew added.
The province is enacting a higher education round table and will modernize its apprenticeship system, Kinew said.
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He appealed to Manitoba’s business community, saying, “Let’s build Manitoba up together.”
“We need to go back to a period of investing. We need to go back to a period of building.”
Kinew also pointed to oft-talked about infrastructure upgrades at the Port of Churchill. The “major project” would supercharge Manitoba’s economy, Kinew said, adding he’s working with Ottawa. Prime Minister Mark Carney has shown support for bolstering trade through the northern port.
Manitoba launched public consultation on its economic development strategy this spring.
gabrielle.piche@winnipegfreepress.com
Gabrielle Piché reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle.
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