Even with the United States in economic turmoil, P.E.I. businesswoman Mary-Jean Irving sees green when she gazes south of the border.
“The U.S. market continues to be a major growth opportunity for us whether they are doing well or not,’’ says Irving, president and CEO of both Master Packaging Inc. and Indian River Farms Ltd.
“I think we often take having the world’s most affluent, powerful nation on our doorstep for granted. When I look at today’s situations in Atlantic Canada and P.E.I., I see hope and I see growth, but I also see trials and challenges.’’
Irving delivered a spirited roll-up-the-sleeves type message Friday as the keynote speaker at the Atlantic Provinces Economic Council’s Outlook 2014 Conference in Charlottetown in assessing whether Atlantic businesses should bet on a U.S. revival.
Her message, for the most part, was upbeat, but she did not try to ignore the dismal state of the United States economy currently in its worst crisis since the Great Depression.
She laid out a few troubling facts:
— Since 2008, she notes, seven out of eight jobs created in the U.S. are part-time jobs.
— American households are receiving more money from the U.S. government then is being paid by households in taxes, she informs.
— And debt in the United States, Irving highlights, now sits at a dizzying $17 trillion.
Still, Irving sees cause for optimism, but points out economists seem split on whether the U.S. may be approaching a turn in fortune.
“Can we be on a U.S. revival? That depends on whom you talk to and on what day of the week. Some economists are confident that the U.S. will sort out these economic troubles. Others are not so sure.’’
For P.E.I. and the region, plenty is at stake.
Consider that in 2012, Atlantic Canada exported nearly $22.6 billion dollars of goods to the U.S. Of that, however, only $583 million was exported from P.E.I., primarily from aerospace, food, agriculture, pharmaceutical and aquaculture industries.
Irving says finding success in what is increasingly fierce and relentless competition in a global market comes down to tangibles like values, conduct, attitude and a passion to win.
“I look forward to the opportunities that await us here in P.E.I. and Atlantic Canada,’’ she says.
“With passion and fire in the belly, hard work, flexibility and the openness for change, we will grow.’’
Irving says she draws from generations of successful business pedigree in following a tried and true formula of investing in people, technology and improvement while building and producing an excellent product, giving superior service and reinvesting.
Master Packaging’s facilities, she notes, are “immaculate’’ out of necessity.
The province in May announced a loan of $7.1 million to Master Packaging to allow the company to expand its cardboard box plant in Borden-Carleton.
“I must say that Prince Edward Island Government continues to play a critical role in growing new markets, profits and jobs at Master Packaging,’’ says Irving.
“So with their support, we’ve had faster expansion and access to better technology, which has helped us to grow and to achieve new highs in business right here in Atlantic Canada, right here in P.E.I. - and that’s good for the Island.’’
