Major Industries in Manitoba: Key Sectors Driving Growth

Manitoba’s economy may fly under the radar for many entrepreneurs, but this prairie province offers a diverse and robust business environment ripe with opportunities. With a GDP of $69.4 billion in 2023, Manitoba punches above its weight, bolstered by major industries like agriculture, mining, manufacturing, and finance.
For those looking to start a business, Manitoba touts itself as an affordable place to operate, with competitive tax rates and low utility costs. The provincial government actively supports local economic development through initiatives like the Economic Growth Action Plan. This strategy aims to encourage business investment, innovation, and good jobs across key sectors.
With a diversified economy showing projected growth of 2.5% in 2024, there are compelling reasons for entrepreneurs to take a closer look at the opportunities Manitoba offers. Understanding the province’s economic landscape and strengths can open doors for new business ventures to thrive.
Overview of Manitoba’s Economy
Manitoba’s economy is driven by a diverse range of key industries. One of the most significant sectors is food and beverage manufacturing, which accounted for 32 percent of Manitoba’s total manufacturing sales in 2023. The province is a major producer of agricultural products like hogs, soybeans, oats, and potatoes, making it a central hub for food processing.
Another pillar of Manitoba’s economy is the mining industry. In a recent throne speech, the provincial government promised increased support for mining, which has community leaders in the resource-rich north feeling hopeful. Mining has long been vital to northern communities.
The provincial government recognizes that supporting local companies and leveraging Manitoba’s strong, diversified economy across sectors like manufacturing, agriculture, mining, and others is a major priority. With renewed focus on industries like food processing and mining, Manitoba aims to drive economic growth and prosperity.
Major Industries in Manitoba
1. Manufacturing
Manufacturing is a key player in Manitoba’s economy, making up about 10% of the province’s economic output. It employs around 10% of the workforce, with manufacturers ship roughly $24 billion worth of goods annually (2022), with about $13.9 billion of those goods being exported (2022).
Among the diverse manufacturing sectors, food processing plays a significant role, contributing 21% to the employment in this field. Transportation equipment, machinery, and chemicals also form substantial subsectors, showing the region’s industrial diversity.
Numerous advanced manufacturers call Manitoba home because of its stable economy and highly-skilled workforce. Manitoba has four universities, three public colleges and a variety of vocational learning centres. Institutions like Red River College Polytechnic’s Technology Access Centre for Aerospace and Manufacturing facility offers cutting-edge training for students and industry research.
Key Products and Sectors:
- Aerospace Components: Manitoba is a hub for aerospace engine testing, with facilities like GLACIER in Thompson.
- Heavy Duty Vehicles and Buses: Local manufacturers produce parts and complete vehicles for various industries.
- Processed Foods: This sector is the largest, featuring products from French fries to packaged meals.
- Primary Metals: Companies like Vale Canada Limited focus on nickel mining and processing in Thompson.
Prominent Companies:
- Canadian Kraft Paper Industries Ltd.: Located in The Pas, this facility produces heavy kraft paper primarily for export.
- Louisiana-Pacific: Known for engineered wood products, their Swan River facility manufactures oriented strand board and panel siding following a significant investment.
- Vale Canada Limited: Operating in Thompson, this subsidiary of Vale SA is involved in nickel mining, milling, and smelting.
2. Construction
Manitoba’s construction sector is vital, employing about 48,900 people in 2021. This represents 7.5% of the province’s total workforce. Most construction jobs, around 56.4%, are in trade contracting, followed by building construction (30.9%), and heavy and civil engineering construction (12.7%).
Employment statistics show that men dominated the sector, representing over 90% of the workforce. The construction industry had a low unemployment rate of 4.9% in 2021.
You can expect significant employment opportunities due to residential construction, capital investments, and the retirement of senior workers. Increasing the diversity within the sector is crucial, and the Manitoba Construction Sector Council promotes inclusion for women, newcomers, and Indigenous persons.

In 2021, 25% of workers were self-employed, often as general contractors. This high self-employment rate is notably evident among building finishing contractors, where over half were self-employed.
Manitoba’s construction sector offers a promising career field with diverse job opportunities and competitive wages. Ensuring a continuous inflow of skilled workers will be essential to meet future demands. The MCSC’s efforts in promoting workforce diversification further enhance the sector’s growth and inclusivity.
3. Transportation and Warehousing
Manitoba’s transportation and warehousing sector is essential to the province’s economy. Combined, these industries contribute $4.8 billion to the GDP and are among the fastest-growing sectors in Canada.
The province’s central location in North America makes it an ideal hub for shipping and logistics. One notable feature is CentrePort Canada, the largest inland trimodal port on the continent. This facility combines extensive trucking infrastructure, rail access to four North American gateways, and one of Canada’s busiest air cargo operations.
Manitoba offers some unique advantages for transportation companies.
- 24/7 all-weather airport: One of the busiest in Canada.
- Access to rail: Winnipeg connects to three Class 1 rail carriers.
- Border proximity: Just an hour from a major U.S./Canada border crossing.
Manitoba also supports clean energy initiatives. The province boasts 99% renewable energy at some of the lowest electricity rates in North America. This positions companies well for the future as the shift to zero-emission vehicles continues.
Affordable warehouse space is another benefit, providing significant cost savings. Manitoba’s transportation and distribution companies can take advantage of this to maintain a competitive edge.
You’ll find that Manitoba workers are highly productive, ranking third highest in productivity among all provinces and outperforming the national average by 2.7%.
Manitoba is also home to two of the top 10 for-hire carriers in Canada, further cementing its role as a key player in the transportation and warehousing industry.
4. Finance and Insurance

Winnipeg, a key hub for finance and insurance, has a rich history as a major financial center. Contributing nearly $4 billion to Manitoba’s GDP, the finance sector here thrives.
The city boasts a business-friendly environment with low costs and a skilled workforce. This combination ensures stability and growth for financial institutions.
Key areas of expertise in this sector include:
- Chartered banks
- Credit unions
- Venture capital funds
- Trust companies
- Investment and financial planning services
- Leasing industries
- Insurance companies
Over 5,400+ financial establishments operate in Winnipeg, capital and largest city of Manitoba, employing around 25,000 people. This accounts for about 80% of the sector’s total employment in Manitoba.
Advanced technologies have bolstered the industry, enabling innovations like online recruiting, phone pay systems, and integrated payroll products.
Major financial services companies in Winnipeg:
- Great-West Life Assurance Company
- IGM Financial Inc.
- The Wawanesa Mutual Insurance Company
- Manitoba Public Insurance
- National Leasing Group Incorporated
- Ceridian Canada Ltd.
5. Agriculture
Agriculture plays a significant role in Manitoba’s economy. In 2023, agricultural and agri-food exports reached a record high of $9.39 billion. This sector accounted for 44% of the province’s total exports, demonstrating its importance.
Manitoba’s major agri-food exports include wheat, canola oil, pork, and canola seeds. These products drive both the provincial and national economy forward with their strong international demand.
Food and beverage manufacturing is another vital part of Manitoba’s agriculture sector. In 2023, this sub-sector accounted for 32% of Manitoba’s total manufacturing sales, totaling $8.4 billion.
The agriculture sector in Manitoba employs a considerable number of people. As of 2023, 16,825 Manitobans worked in food and beverage manufacturing, highlighting the industry’s role in job creation.
Below is a snapshot of key figures:
Metric | Value (2023) |
---|---|
Agri-food exports | $9.39 billion |
Share of total provincial exports | 44% |
Food and beverage manufacturing sales | $8.4 billion |
Employment in food and beverage manufacturing | 16,825 people |
Manitoba also has substantial cropland. In 2021, the province had 11.6 million acres, contributing 12.4% to Canada’s cropland area. This makes grain and oilseed farms the largest type of farms in the province.
6. Professional Services
Professional services play a crucial role in Manitoba’s economy. The sector encompasses a wide range of activities, including legal services, accounting, architectural, engineering services, and management consulting. These services rely heavily on the expertise and skills of their personnel rather than on physical materials or equipment.
In 2022, roughly 35,500 people were employed in the professional services sector of Manitoba. This was a notable increase of 12.3% from the previous year. Interestingly, a significant portion of the workforce, about 23%, is self-employed, showcasing the entrepreneurial spirit within this field.
Winnipeg is the central hub for professional services in the province, accounting for three-quarters of the sector’s employment.
7. Mining
Manitoba’s mining sector stands out due to its rich deposits and sustainable practices. You’ll find precious resources such as crude oil, gold, copper, zinc, nickel, and lithium here.
Manitoba also holds high-demand materials crucial for the production of solar panels, electric vehicles, and batteries. This positions you perfectly to leverage the growing need for green technology components.
The mining sector in Manitoba has seen significant investments, including $21 million directed towards the Manitoba Mineral Development Fund. This fund aims to spur economic growth and job creation in northern regions, providing you with opportunities to be part of a thriving sector.
Energy costs are another compelling factor. Manitoba offers 99% renewable energy at some of the lowest rates in North America. This sustainability focus not only reduces your operational costs but also aligns with modern environmental standards.
Located at the heart of North America, you’ll benefit from the province’s excellent logistics. Manitoba’s trimodal port facilities provide easy access to markets across the continent and beyond. The province also attracts attention for its potential in uranium deposits and even diamond discoveries, broadening your exploration possibilities.
In terms of workforce, you’ll find the employee turnover levels to be low, contributing to a stable and productive mining environment.
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About the author
Maurice