The annual Fox Harb’r Resort gathering in Nova Scotia has long been a hub for Atlantic Canada’s business elite, drawing figures like TD Bank CEO Ray Chun and MP Dominic LeBlanc. This year’s event highlighted the shifting landscape of regional business dynasties, as many of the original founders have passed away, leaving their empires in the hands of the next generation. Among them is Jim Irving, now the sole leader of J.D. Irving Ltd. after the deaths of his father and brother, overseeing a sprawling empire that includes shipyards, forests, and French fry production.
The transition of power raises questions about the future of these family-run businesses, which collectively employ over 100,000 Canadians. Economist David Campbell notes the need for new capital deployment and entrepreneurial ambition, as the old guard faces challenges from technology, tariffs, and labor shortages. While immigrant entrepreneurs and startups are emerging, they lack the wealth and influence of the established dynasties.
John Bragg, another prominent figure, has built a global empire from wild blueberries to cable and internet services. His sons and grandchildren are involved in the business, but professional management is increasingly taking over. Bragg advocates for rural enterprise, investing in regions like northern New Brunswick to keep head offices and jobs in rural Canada.
The future of Atlantic Canada’s economy hinges on how these powerful families adapt to change and whether new players can rise to fill the gaps left by the aging codfathers.