Economic and political issues in NS

[SignalHillHiker]

Posted by Statbass in the St. John's thread, mentions Halifax as well:

The Telegram, Nov 2, 2012

Newfoundland and Labrador’s economy is predicted to shrink 0.4 per cent this year, according to a new report from the Atlantic Provinces Economic Council.
The council released its annual economic outlook for the Atlantic provinces in Saint John, N.B., Thursday, predicting a mixed year ahead for the East Coast.

While major project spending in the region is expected to decline, exports will benefit from “increased output in key sectors” next year, says the report.

The council lays the blame for Newfoundland and Labrador’s contraction on reduced oil production that offset increased capital investment in 2012.

It’s the worst performance of the provinces in the report, with slow growth of one per cent forecast in 2012 for both Nova Scotia and New Brunswick, and 1.6 per cent in Prince Edward Island.

Declining oil production due to maintenance this year has been a factor in all major economic forecasts, but most predicted slight growth for Newfoundland and Labrador.
As late as September, RBC’s economic outlook predicted the province would grow 1.5 per cent in 2012. Last year at this time, in fact, the council itself predicted growth of 1.1 per cent in the province in 2012.

David Chaundy, senior economist with the council, said it’s a reflection of the importance of oil to the provincial economy, and previous forecasts might not have captured “the full degree of that decline” in oil production this year.

“The overall economy in Newfoundland is growing,” he said. “You look at retail sales, you look at employment, you look at a lot of other indicators, the economy is doing well.
“But oil is a big part of the Newfoundland economy, and we’ve got a very sharp contraction in oil production, down about 24 per cent in the year to August.”

The council’s report also predicts 2013 will see Newfoundland and Labrador have the strongest rebound thanks to recovering oil production and continued mining investment.
The report forecasts growth of 3.4 per cent for the province next year, at least twice the rate of economic growth predicted for any of the Maritime provinces.

http://www.thetelegram.com/Business/...-says-report/1

[Antigonish]

Originally Posted by Halifax Hillbilly

The latest monthly rate for Halifax is 5.4%, down from 5.7%. Things seem to really be rolling in Halifax. The rest of Nova Scotia is really hurting though: unemployment jumped to 9.2%.

http://www.cbc.ca/news/interactives/unemployment-stats/

This may sound to most like I'm making excuses, but at least where I'm from (The North-East) I have many friends and peers who work in the Lobster and Forestry Industry who work seasonal jobs/careers and make an honest living but also draw unemployment during the off months (something I don't agree with). This can skew the stats considerably in a County of 20,000 people when a few hundred work in these industries.

I can only speak for Antigonish though..

[Haligonian88]

Wasn't sure where to put this, but it's relevant to the topic. Hoping this will pan out; might help prevent me, and many others, from having to go out West for an engineering job that pays well. Seems like it could be a better use of taxpayer money than bailing out companies in the pulp and paper industry, or giving rebates to the call centers that are continuously closing up shop.


PROJEX Technologies Brings Jobs East
November 7, 2012

Young Nova Scotians out West, and those here at home, will have more opportunity to land good paying jobs in the province, thanks to a decision by an Alberta company to expand its workforce east.

PROJEX Technologies Ltd. is recruiting Nova Scotians who are working out West for its Halifax office, and will also hire and retain more engineering graduates to work in up to 440 new jobs over the next five years. The estimated average salary, in a range of positions, will be $90,000 plus benefits.

...

http://www.novascotiabusiness.com/en..._nov_2012.aspx

[resetcbu1]

Originally Posted by Haligonian88

PROJEX Technologies Brings Jobs East
November 7, 2012

Young Nova Scotians out West, and those here at home, will have more opportunity to land good paying jobs in the province, thanks to a decision by an Alberta company to expand its workforce east.

PROJEX Technologies Ltd. is recruiting Nova Scotians who are working out West for its Halifax office, and will also hire and retain more engineering graduates to work in up to 440 new jobs over the next five years. The estimated average salary, in a range of positions, will be $90,000 plus benefits.

...

http://www.novascotiabusiness.com/en..._nov_2012.aspx

That's alot of high income jobs , good news

[Dmajackson]

IBM plans to hire 500 in N.S. for new data centre
November 8, 2012 - 11:44am BY CHRIS LAMBIE BUSINESS EDITOR

IBM is planning to hire 500 people in Nova Scotia over eight years to staff a new global delivery centre.

Nova Scotia is offering IBM a payroll rebate of as much as $12.2 million if the massive company reaches that job target.

“We're providing them a payroll rebate to incent them to grow 500 new jobs in Nova Scotia,” Stephen Lund, who heads Nova Scotia Business Inc., the province's business lending arm, told The Chronicle Herald's editorial board.

The company's payroll could top $130 million over the life of the deal, which could generate, in turn, $18.7 million in provincial income tax, according to briefing notes provided by the province.

...

The government's aim is to bring Nova Scotians working elsewhere back to the province, Paris said. He also noted that 400 of the jobs are for new graduates.

...

(clambie@herald.ca)

Read More: thechronicleherald.ca

An office site hasn't been finalized but it states the bulk of the jobs will be in Halifax with the possibility of a smaller office in Sydney.

[Haligonian88]

Originally Posted by Dmajackson

An office site hasn't been finalized but it states the bulk of the jobs will be in Halifax with the possibility of a smaller office in Sydney.

More great news for the employment prospects in Nova Scotia, hopefully this will make up for the jobs that didn't materialize with RIM. I think I remember reading RIM was considering selling their office in Bedford, I wonder if IBM would take over that space.

[Halifax Hillbilly]

An office site hasn't been finalized but it states the bulk of the jobs will be in Halifax with the possibility of a smaller office in Sydney.

The Coast has been speculating it will be Nova Centre.

[someone123]

Originally Posted by Halifax Hillbilly

The Coast has been speculating it will be Nova Centre.

One of the advantages of having ongoing office projects and quick approvals downtown is that they can compete for new tenants when opportunities like this open up. I would guess that one major factor in the decision to locate RIM in Hammonds Plains was the lead time required to put up a new building in the city. Companies expand when they have more work that needs to be done; a random 1-5 year approval delay is a huge.

All that aside, even though the IBM deal will not be all new business or jobs it still seems positive for the city. PROJEX is great news too. $90,000 is actually a decent salary given Halifax's cost of living.

[Phalanx]

Originally Posted by Haligonian88

More great news for the employment prospects in Nova Scotia, hopefully this will make up for the jobs that didn't materialize with RIM. I think I remember reading RIM was considering selling their office in Bedford, I wonder if IBM would take over that space.

As far as I'm aware, RIM wasn't actually planning to leave that space, just sell the building and then lease it back as a cost saving measure.

[Haligonian88]

Originally Posted by Phalanx

As far as I'm aware, RIM wasn't actually planning to leave that space, just sell the building and then lease it back as a cost saving measure.

I believe you are correct, but initially RIM planned on hiring 1200-1400 people and they didn't even surpass 500 prior to the layoffs earlier this year. Maybe the extra space has already been leased out to others.

As for the Nova Centre, I had also read what the Coast was suggesting; the timeline doesn't seem like it would work out that well if IBM plans to begin hiring within the next year.

[teddifax]

Originally Posted by Haligonian88

I believe you are correct, but initially RIM planned on hiring 1200-1400 people and they didn't even surpass 500 prior to the layoffs earlier this year. Maybe the extra space has already been leased out to others.

As for the Nova Centre, I had also read what the Coast was suggesting; the timeline doesn't seem like it would work out that well if IBM plans to begin hiring within the next year.

I too believe that Nova Centre is the ultimate location for IBM and Projex and will move into this after it is built. The expected top out of the employment will occur after Nova Ctr is finished, so this will suit both companies.

[SignalHillHiker]

Hello! I wasn't sure where to share this... the Atlantic Kestrel just arrived in St. John's from a shipyard in Singapore this morning. It says Halifax, NS, on the side so I assume that'll be its home soon enough.

Congrats, it looks lovely!

[someone123]

Originally Posted by teddifax

I too believe that Nova Centre is the ultimate location for IBM and Projex and will move into this after it is built. The expected top out of the employment will occur after Nova Ctr is finished, so this will suit both companies.

IBM has a lease for part of the RIM building. It is possible that they could move somewhere else in a few years.

[SignalHillHiker]

Interesting article about a Halifax mentorship program:

Prominent Nova Scotia leaders volunteer to create a network that works on business relationships and encourages investment through ConnectNS

http://www.atlanticbusinessmagazine....t/upfront-2/2/

[SignalHillHiker]

Thank you, Nova Scotia!

A study conducted for the Nova Scotia government to be released Thursday concludes that the Muskrat Falls hydroelectric project in Labrador is the cheapest option to meet the province's future energy needs, senior government officials say.

http://www.cbc.ca/news/canada/newfou...ls-review.html

[halifaxboyns]

Originally Posted by someone123

IBM has a lease for part of the RIM building. It is possible that they could move somewhere else in a few years.

They could also sub lease the space.

[halifaxboyns]

Not sure if this is the right spot to note this, but last years construction rate for new residential units is getting up there and close to the record for HRM which was in 2002. I'm waiting to see what the value of construction permits was for 2012 and see if we came in under 1 Billion $ or over. Should be interesting...

Here is where you can find the data.

[Haliguy]

Michelin plant in Waterville gets $73M expansion
CBC News Posted: Jan 17, 2013 3:28 PM AT Last Updated: Jan 17, 2013 4:09 PM AT


Michelin president Dana Leblanc announces $73-million expansion to its Kings County plant. (Paul Withers/CBC)More jobs and money are rolling to the Michelin tire manufacturing plant in Waterville, N.S.

The company announced a $73-million expansion on Thursday.

That will create 50 new jobs. It already employs about 1,300 people in Kings County.

The company is contributing close to $64 million and the Nova Scotia government is topping up the expansion with $8.9 million.

Michelin postponed plans for an announcement in Waterville last July and at the time it didn't explain why.

The company said it will begin hiring next year, with the expanded line in place by 2016.

The expansion could have a ripple effect on Michelin's other operations in Nova Scotia. More wire from Bridgewater and rubber from Granton will be needed to supply truck tire production in Waterville.

Last May, Premier Darrell Dexter announced a study looking at relocating the Waterville Municipal Airport to allow for an expansion at Michelin.

That study was expected to be complete by the end of October.

A spokeswoman for the government said it has a draft of the study but needs more time to review it and brief local councillors before releasing it.

The tire manufacturer employs about 3,500 people throughout the province.

With files from the Canadian Press

[someone123]

Apparently Irving is going to be hiring about 1,500 people in NS over the next 2 years. About half of those will be at the shipyard in Halifax.

[PoscStudent]

Here's a speech Scott Brison gave where he discusses Nova Scotia's economy and discusses regional cooperation.

http://www.aims.ca/site/media/aims/B...Commentary.pdf