Attracting Investment

 

Economic Climate

The Eastern Strait Region in Nova Scotia is ideally positioned to attract new investment from both new start-up firms and established companies and those looking to locate in Nova Scotia to serve national and international markets. The towns of Antigonish and Port Hawkesbury offer urban amenities and services and support tourism, agriculture, forestry, fishing and other natural resources-based economic activity across the region.

Eight reasons to invest in Canada (Source: Invest in Canada)
  1. A welcoming business environment: According to Forbes magazine, Canada is the second best country in the G20 to do business.
  2. A strong growth record: According to the OECD, Canada led all G7 countries in economic growth over the past decade (2006 – 2015).
  3. Unparalleled market access: Once the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) comes into force, foreign investors in Canada will have assured preferential access to both NAFTA and the European Union.
  4. A highly-educated workforce: Canada’s workforce is the most highly educated among members of the OECD, with half of its working-age population having a tertiary level education.
  5. Low business tax costs: Total business tax costs in Canada are by far the lowest in the G7 and, according to KPMG, 46 percent lower than those in the United States.
  6. Competitive R&D environment: Canada offers the lowest business costs in the G7 for R&D-intensive sectors, with a 27.7 percent cost advantage over the United States (Source: KPMG).
  7. Financial stability: The World Economic Forum consistently declares Canada’s banking system to be one of the soundest in the world.
  8. A great place to invest, work, and live: The OECD’s Better Life Index shows Canada as best in the G7 in terms of overall living conditions and quality of life.

For firms looking to invest in Nova Scotia, the Eastern Strait offers impressive advantages including a competitive cost environment, a high-quality workforce and good transportation infrastructure. Beyond the general economic climate, the Eastern Strait features a number of industries that are poised for growth. The provincial tourism strategy is focused on growing that sector’s revenue from $2.6 billion in 2016 to $4 billion by 2024. The Eastern Strait is ideally positioned to attract tourism investment and new entrepreneurs. The renewable energy, mining and forestry sectors feature growth opportunities as does the aquaculture sector. The Strait is also well positioned to attract a new generation of freelance workers who could live anywhere but who are attracted to the region to take advantage of its pristine, rural lifestyle. Already the number of new immigrants is on the rise and there are plans to attract a lot more.