Nova Scotia experienced exciting economic growth during 2006-07.
The province's business development agency, Nova Scotia Business Inc., released its fifth annual report today, Aug. 23.
In 2006-07, NSBI clients committed to create and maintain more than 3,900 jobs in Nova Scotia over the next five years. These jobs, once realized, could result in a total annual payroll of more than $160 million.
"NSBI and its partners are supporting the growth of both local and international companies in Nova Scotia," said Economic Development Minister Richard Hurlburt. "The province, through its development agency, is playing an important role in the sustainable growth of our economy."
The annual report covers the fiscal year from April 1, 2006, to March 31, 2007, and highlights achievements by NSBI clients.
NSBI's business-advisory team worked directly with Nova Scotia businesses throughout the province, participating in more than 800 face-to-face meetings resulting in more than 350 qualified referrals to assist clients' growth.
The investment-attraction team supported 14 business expansions in Nova Scotia. These businesses will create up to 3,000 new high-paying and competitive job opportunities for Nova Scotians.
NSBI's financial-services team authorized 17 new and existing client-focused solutions, providing capital to fit the need of growth-oriented companies in all parts of Nova Scotia.
The trade-development team facilitated 20 trade missions and trade shows. As a direct result, NSBI trade clients expect to generate more than $85 million in incremental sales by expanding market reach.
"Nova Scotia companies are doing well both within and outside our provincial borders," said Doug Hall, chair of NSBI's board of directors. "Their success continues to strengthen Nova Scotia's reputation as a world-class place to do business."
"An aggressive, proactive approach is helping drive economic success in our province," said Stephen Lund, president and CEO of NSBI. "It comes down to a winning combination of competitive businesses and the exceptional work of NSBI's dedicated team of professionals."
For more information on the 2006-07 annual report, visit www.novascotiabusiness.com/weare .
Nova Scotia Business Inc. is Nova Scotia's private-sector-led business development agency. NSBI is the investment-attraction arm of the province and helps businesses in Nova Scotia meet growth potential through advisory services, export development, financing and venture capital.