Some experts are predicting that Canada is likely to ease out of the recession by the end of the year. But while other provinces are seriously hurting, New Brunswick has mostly remained unscathed.

A construction boom is fuelling the economy in southern New Brunswick, with a number of energy megaprojects underway that have the potential to pump up to $40 billion into provincial coffers.

Anyone trying to get a table in a nice restaurant in Saint John or a seat in the movie theatre can attest that the city is suddenly bulging at the seams. Hotels are being built, and people are renting out rooms in their houses in bedroom communities to workers.

There is one major exception to the general prosperity. As in other places, the province’s forestry industry is in a state of crisis. Only 11 of 64 mills were running at full speed this summer; 13 were operating with reduced shifts, four were considering cutbacks or shutdowns, 21 were temporarily or indefinitely closed, and 15 had been permanently shuttered.

Beleaguered foresters aside, however, most New Brunswickers have endured nothing worse than a bit of belt-tightening. So, given the clouded economic picture in many other areas of the country, what are the opportunities for investors looking to participate in New Brunswick’s relatively rosy outlook?

The Potash Corp. of Saskatchewan has scaled back its activities at some locations in other provinces due to declining prices and profits. However, many analysts believe the industry remains a solid, long-term investment, and Potash Corp., the world’s largest producer, remains committed to opening a new mine in southern New Brunswick.

Emera Inc., based in Halifax, is another concern with a prominent profile in New Brunswick. The parent of Nova Scotia Power, Emera owns a 100% stake in the Brunswick Pipeline and a minority interest in Maritimes & Northeast Pipeline LP: Emera stands to profit as liquefied natural gas is transported through the northeast corridor from a facility that Irving Oil Ltd., based in Saint John, opened recently in conjunction with Spanish conglomerate Repsol YPF SA, which is Spain’s largest oil producer.

Corridor Resources Inc., also of Halifax, is another company that bears watching as a result of its involvement in southern New Brunswick energy projects. Drilling estimates by Calgary’s GLJ Petroleum Consultants show that one of the properties that Corridor is exploring contains 60 times the amount of natural gas that has been found on another piece of land it is actively tapping. Corridor is currently seeking a partner to help it pursue the deposit, and if it finds one, its revenue is likely to soar.

The company, which sells natural gas to the New England market via Maritimes & Northeast Pipeline, has already seen its revenue increase to $75.8 million in 2008, up from $31.3 million in 2007.

And, lastly, investors may consider investing in those everyday businesses that workers patronize while working on megaprojects. In Saint John, it sometimes can be as hard to get a table at Boston Pizza, which operates as an income fund, as it is to find a seat at the Empire Cinemas, a wholly owned subsidiary of the Empire Co. Ltd., a publicly traded food-retailer.

It’s also easy to overlook the well-known when seeking big returns, but being famous does not preclude profits. With the country in a recession, McDonald’s Corp. was still able to post decent numbers.

You want fries with that? IE