 
Nova Scotia Business Inc. (NSBI) employees are committed to achieving results. This ethic, combined with the cooperative efforts of our many valued partners throughout the province, has resulted in another successful year of business activity in Nova Scotia.
One of the most exciting developments we were involved with was the arrival of the global energy player, Anadarko Petroleum, in Nova Scotia through their purchase of Access Northeast Energy. The agreement garnered significant attention based on the company's commitment to develop and invest in the $450-million Liquefied Natural Gas (LNG) project in the Strait area. Construction of the LNG terminal will begin shortly, with more than 1,000 construction jobs resulting over three years. The collective drive of the local officials, a world class site, along with NSBI's project management, proved to be an irresistible combination for the company.
Another exciting win for rural Nova Scotia was the arrival of Lightbridge, Inc. to Liverpool, Queens County. The company, a global enabler of mobile and online business solutions headquartered in Burlington, Massachusetts, expanded its contact centre operations,
creating 300 jobs for the area. I am convinced that it was the enthusiasm of the Municipality in selling its own case that pushed this deal over the top.
NSBI is proud of the partnership it led in confronting the challenges posed by the Manulife acquisition of Maritime Life. The collective goal was to ensure a viable business remained in Nova Scotia. With our support, CGI succeeded in winning a significant Manulife outsourcing contract and is growing to become one of Halifax's major players.
We know that the strength of the partners involved in each of these developments has been key to their success. We have dedicated ourselves to working even more fully with our partners over the coming weeks and months.
As a province, we are blessed with world-class entrepreneurs and growth-oriented companies, a motivated, educated workforce, and a growing confidence about our ability to compete. Creating awareness of the value Nova Scotia offers as an operating location to companies will continue to be at the core of our business attraction efforts.
The year ahead will include efforts to bring more high-value companies to the region, with several software application companies in the pipeline, business process outsourcing opportunities, and spin offs generated from our success on the energy file.
More generally, NSBI will continue to push an emphasis on resolving systemic business climate issues such as taxation, competitiveness and productivity rates, and border issues to better balance the playing field with competing jurisdictions. We will encourage exporters to adjust to the higher dollar by investing in capital infrastructure improvements and diversifying their market development efforts to take advantage of the rising Euro and the emerging Chinese mega-economy. We're committed to working with Nova Scotia companies in the months ahead to explore opportunities on this front.
We are energized by the prospects that await Nova Scotia in 2005. We look forward to working with you to capitalize on these opportunities.
» return to article menu |
CGI Group Inc. announced in September that it would begin hiring 200 information technology professionals for its International Systems Development Centre in Halifax. The mission of the centre is to provide systems development, maintenance and integration services for Manulife Financial and other CGI clients worldwide. NSBI has agreed to a payroll rebate of $7.9 million over five years conditional upon CGI hiring 500 people for its Halifax centre, as well as a payroll rebate of $592,000 if rural jobs are created.
|
|
As part of its long-term strategy to become an aggressive market leader, MacTara Ltd., an Eastern Shore wood products manufacturer that employs 210 people, has secured a new partner, Fulghum Fibres Inc. Georgia-based Fulghum owns 24 wood pellet facilities in the U.S. and is a leader in the wood chip industry. NSBI is supporting MacTara's growth strategy by guaranteeing a loan of $2.5 million and deferring principal payments on an existing $1 million loan. The Office of Economic Development is also assisting the company with an extension of an existing $3 million loan guarantee for an additional one-year period. Announced November 12, 2004.
|
Keata Pharma Inc., a contract pharmaceutical manufacturer, is establishing a manufacturing operation that is expected to create 165 jobs in North Sydney. In addition, Keata Pharma's parent company, PharmEng Technology Inc., a Toronto-based pharmaceutical and biotechnology consulting firm, will establish a consulting office in Cape Breton - creating 12 professional jobs.
NSBI is providing a payroll rebate of up to $3,590,800 for the creation of up to 300 jobs. The growth fund and Enterprise Cape Breton are investing $6.25 million in repayable loans to assist with operational start-up costs that are projected at $12.5 million.
In partnership with PharmEng, UCCB is launching a biotechnology and pharmaceutical technology certificate program to train potential employees. The program will be taught jointly by UCCB and PharmEng. UCCB is receiving a $375,000 non-repayable contribution from ACOA's business development program. As well, PharmEng is receiving a $125,000 non-repayable contribution through Enterprise Cape Breton. Announced December 3, 2004.
|
|
Techlink Entertainment Inc. and the Nova Scotia Gaming Corporation are collaborating to field test Techlink's new Responsible Gaming Device (RGD) on VLTs in Nova Scotia. NSBI is providing $2 million in equity to accelerate commercialization of the technology. RGDs promote responsible gaming as players voluntarily use cards to track their gaming history and set financial limits. Announced December 3, 2004.
DynaGen Technologies Inc., a Sydney-based manufacturer and designer of digital control systems for the distributed power market worldwide, is developing new generator control systems and automatic transfer switches, primarily for small-scale generators. To support these activities, NSBI is providing an equity investment of $1 million, and the loan will be converted into common shares within a 12-month period. Twenty-four highly skilled jobs will be created by 2008. Announced December 15, 2004.
|
» return to article menu |
While the beginning of a new year is a time when many of us make personal resolutions, it is also a time of new opportunities for private companies.
Whether you are in the business of providing services or products, it is important to focus on activities that improve your overall growth, competitiveness, and profitability. You may have to invest in equipment, employees, office or production space, or a new marketing campaign to achieve these goals.
Nova Scotia Business Inc. (NSBI) understands that competitive realities differ depending on your product, market or industry. That is why we offer financing that is tailored to the needs of companies, depending on a company's stage of growth.
Our financial services range from term loans to equity financing. We offer solutions for companies that have solid potential for success. NSBI assesses the business case companies bring forward. Based on an analysis of the situation, NSBI will structure and price the transaction commensurate with risk and industry norms.
Since we are investing public funds, we apply rigorous due diligence to every financing project to ensure a solid return on investment for Nova Scotians. We are regulated by the Nova Scotia Business Act, which outlines the type of companies with which NSBI can work. If a company is not eligible for NSBI financing, then we can turn to our network of partner agencies and financial institutions to help find a solution that meets the needs of the company.
We would welcome the opportunity to meet with you to discuss your financing needs. To arrange a meeting with an NSBI Financial Services Account Manager, contact the NSBI Business Advisory Account Executive in your area. Click on the following link for contact details: www.novascotiabusiness.com/services/advisory/index.html. Or, call us directly at
(902) 424-6650.
» return to article menu
|
 
NSBI President and CEO, Stephen Lund took the opportunity, during his December 8 address at the Strait Area Chamber of Commerce Luncheon, to recognize five local partners who played important roles in progressing business deals to the benefit of the community.
» return to article menu |
In 2004, NSBI helped recognize the successful achievements of regional exporting companies through sponsorship of a special export achievement award at various Chamber of Commerce Achievement Awards ceremonies. The Chamber of Commerce Achievement Awards recognize and reward business leaders throughout the province in a number of categories. 2004 export achievement award winners for Pictou county, Strait area, Lunenburg, and Sydney are respectively: Grohmann Knives - www.grohmannknives.com; MacLeod Resources Ltd. - www.canadasmarble.com; G.N. Plastics Limited - www.gnplastics.com; and East Coast Rope Ltd./Polysteel Atlantic - www.polysteel.net. Congratulations!
» return to article menu |
NSBI is a key collaborator in organizing trade missions that result in profitable business partnerships in new markets.
Pamela Rudolph, Trade Officer with NSBI, led a mission to Trinidad and Tobago that was attended by 13 full and associate NSBI delegates from November 15 - 19, 2004. Strategic networking opportunities connected delegates with key Trinidad and Tobago political and business leaders. NSBI partnered with Atlantic Canada Opportunities Agency, Greater Halifax Partnership and the Nova Scotia Department of Energy on this initiative.
From December 13 - 16, 2004, Troy Sawler, Trade Officer with NSBI, led a trade mission to Boston, coordinating nine full and associate NSBI delegates that represented sectors of advertising, packaging, consumer products, education, and technology. Extensive networking opportunities positioned delegates for success through business matchmaking, and a Canada-New England Business Council reception.
» return to article menu |
 The International Scene
The U.S. economy added 2.231 million jobs in 2004, the best job creation performance since 1999. In December, there were 157,000 new jobs created in the U.S., which is less than predicted. This seems to be the crux of the tale - growth is there, but somewhat less than potential. Expect the U.S. economy to push 3 to 3.5% real GDP growth in 2005. As a backdrop, the rapid rise in productivity has kept inflation in check and permitted growth. Overall, expect solid, but not spectacular growth, low unemployment and contained inflation for the U.S.
U.S. monetary policy is always a hot topic. While a "strong dollar" policy may be espoused, expect the greenback to continue its orderly slide. It is going to take some time for the effects of this lower dollar to translate into real progress on the U.S. trade deficit. We, in Canada, watch with interest.
Canada's Prospects
The Canadian economy grew by 2.7% (real GDP) last year. Most forecasters reduced Canada's real growth prospects in their year-end forecasts due to wariness around inflationary pressures, exchange rate, interest rates and commodity prices. For 2005, there is some divergence in outlook, ranging from a muted 2.5% growth to a more robust advance near 3%.
Key macroeconomics risks to the forecast are:
- · Sustained high oil prices - a plus for producers of the commodity and a minus for consumers
- · Greater than expected increases in interest rates - a gradual rise should not pose any problems. However, a faster than anticipated rise would have adverse impacts on capital-intensive sectors.
- · Exchange rate risk - full impacts of major currency changes are typically not felt for 1.5 to 2 years. Medium- and long-term contracts in place, plus hedging strategies employed by some companies, tend to mitigate currency effects in the near-term.
The Nova Scotia Economy
The "Boss" dropped a December 10, 2004 National Post article on my desk titled "Productivity on a slide". Productivity is a hot topic with NSBI. In our world, productivity translates quickly to competitiveness issues confronting Nova Scotia companies, and the decisions taken by companies to address these issues. The focus of the National Post article was business investment in plant and equipment and Canada's sliding investment levels. Bringing this closer to home - capital investment per capita in Nova Scotia has declined over the past two years, -7% in 2003 and -1.5% in 2004. This is a disturbing trend, particularly given the fast-moving changes in the global economy that have not necessarily favoured Canada and Nova Scotia's competitive position.
Nova Scotia pushed out 2% real GDP growth in 2004, a marked improvement over 2003's soft performance. Bright spots last year include:
- · Exports - Nova Scotia's international exports for the first ten months of 2004 were up 10% over the previous year. Natural gas sales increased somewhat by value (+2.5%), but the pleasant surprise was the 10.5% increase in the value of tire exports.
- · Manufacturing shipments - Up 7.4% over the first ten months of 2004 after getting off to a slow start. Shipments began to surge in April and there has been little sign of a let up.
- · Employment - Nova Scotia (along with British Columbia) led the country with 2.4% employment growth. Employment across Canada grew by 1.7%.
In 2005, the Nova Scotia economy is expected to show somewhat stronger growth, perhaps pushing 2.5% real GDP growth. One forecast (okay, the latest RBC one) suggested "there is room for some cautious optimism", particularly related to the significant capital build around the Anadarko LNG project. This is a big one.
Labour Market Update
Looking at average annual labour force data for 2004, every region of Nova Scotia saw an increase in employment with some 10,200 new jobs created across the province (ranging from 400 new jobs in Cape Breton to 6,100 in Halifax). For the most part, these jobs were created in service producing industries (+9,900). It is interesting to note, though, that the construction industry saw its employment base grow by 11.7% in 2004 (+3,000).
» return to article menu |
|
It's that time again! Nova Scotia Business Inc, in cooperation with Canadian Manufacturers and Exporters, is hosting the 21st Annual Export Achievement Awards on May 19, 2005, at the World Trade and Convention Centre in Halifax.
Nova Scotia Business Inc. is now accepting applications from Nova Scotia firms that have been exporting goods and/or services for more than one year. Award categories include: New Exporter; Long Term Exporter; Export Growth in New Markets; Export Growth through Product Development; Export Growth through Partnership; Export Sales Growth; and Canadian Market Development. As well, one of the winners from these categories will be presented with the Exporter of the Year Award in recognition of the highest accomplishment in exporting for the year. Deadline for submissions is February 28, 2005.
Companies of all sizes are eligible to apply. The achievements of service firms directly involved in facilitating exports such as those in banking, transportation, research, packaging, and promotion are also eligible.
Visit www.novascotiabusiness.com/exportawards for more information. Or contact Kelly Carter, Export Development, NSBI at 902.424.5448 or email: kelly@gov.ns.ca.
» return to article menu
 Tom Stanfield, Chair of Nova Scotia Business Inc.'s (NSBI) Board of Directors announced the appointment of new members to the company's Board on January 13, 2005.
Jim Eisenhauer, President of Lunenburg-based ABCO Group Limited, has been appointed to the Board, effective January 12, 2005. Concurrently, James W. Gogan, former president and CEO, Empire Company Limited of Stellarton, was re-appointed to the board for a second term, effective December 17, 2004. NSBI also takes this opportunity to welcome Nancy Tower, General Manager, Customer Operations, Nova Scotia Power Inc. of Halifax, who joined the Board on October 20, 2004.
» return to article menu
 
Paul Doucet, Director, Communications and Strategic Initiatives
NSBI is pleased to welcome Paul Doucet to the organization as Director of Communications and Strategic Initiatives. Paul is responsible for the overall leadership of the communications and marketing team. Paul joins us with 15 years of communications-related experience in both the public and private sectors.
 Alana Patterson, Director, Stakeholder Relations
NSBI is pleased to welcome Alana Patterson to the team as head of our Stakeholder Relations efforts. Alana will work with the NSBI team to strengthen our relationships with key partners, both internal and external to the province, and expand opportunities for cooperation and collaboration.
Alana has a law degree and has worked in senior policy positions for the past five years with Ontario's Minister of Economic Development and Trade, Canada's Minister for International Cooperation, the Solicitor General of Canada, and the Premier of Nova Scotia. Previously, she worked as a lawyer, specializing in Labour and Employment law.
 Jamie Whitty, Account Executive, Business Advisory Team
NSBI is pleased to welcome Jamie Whitty to our Business Advisory team. His role is to offer expertise and guidance to businesses in Kings, Hants and Eastern Halifax counties.
With an extensive background in business development and hands-on experience with community economic development, Jamie brings an energetic approach to this position. His strong background is supported by a well-rounded education in Marketing and several years of experience within the Information Communication Technology industry.
Jamie is one of six NSBI Account Executives working throughout the province to help company owners and operators identify challenges to business success and opportunities for business expansion.
 
Robert Daigle, Director, Business Development
NSBI is pleased to announce the appointment of Robert Daigle to Director of Business Development. In this role, Robert is responsible for the strategic direction of business development initiatives and opportunities, and the overall leadership of the Business Development team. Robert has more than ten years experience in senior business development and sales roles, including two years as a Business Development Account Executive with Nova Scotia Business Inc.
» return to article menu
|
Upcoming Trade Missions
Trade Mission to South Carolina, February 14-20, 2005
Trade Mission to Netherlands, March 14-18, 2005
Trade Mission to Northern Ireland, February 20-24, 2005
Trade Mission to Louisiana - March 2005 (date to be confirmed)
Team Canada Atlantic Trade Mission to Chicago, April 10-14, 2005
Trade Mission to Maine, May 2005 (date to be confirmed)
For more information on these Missions, contact:
Debbie MacIsaac, Trade Team, NSBI
Telephone: 424.4242
ITANS CEO Boot Camp
January 27, 2005
8:00am to 2:45pm
Halifax, Nova Scotia
Casino Nova Scotia Hotel, 1919 Upper Water Street
http://www.itans.ns.ca/default.asp?mn=1.7&sfield=content.id&search=137
» return to article menu |
About NSBI: Nova Scotia Business Inc. is the business development organization for Nova Scotia helping businesses grow, diversify and compete globally. NSBI provides export development and financial services designed specifically to meet the needs of clients in the province. NSBI also leads the province's business attraction efforts by targeting new companies that are growth-oriented, innovative, and sustainable - companies with the potential to contribute to Nova Scotia's economic growth.
You can view this and previous issues of New Business Thinking on our Web site at www.novascotiabusiness.com. Go to Quick Links, About NSBI and choose New Business Thinking from the drop down menu.
Contact NSBI: Visit www.novascotiabusiness.com for our complete contact information. |
|
