NSBI Announces 2010/11 Annual Results

Oct 7, 2011

NSBI released its ninth annual report today, Oct. 6, which covers the fiscal period from April 1, 2010, to March 31, 2011. 2010-11 Annual Report"With the work of agencies like NSBI and business development partners across the province, we continue to position our people and businesses to compete successfully, create good jobs in Nova Scotia and contribute to a growing economy," said Economic and Rural Development and Tourism Minister Percy Paris.

Based on activity by its clients in the past fiscal year, the province's business development agency projects $142 million in potential payroll creation.

"I've witnessed the transformative power of global competitiveness in my role with NSBI," said Jim Eisenhauer, chair of NSBI's board of directors. "Meeting the changing demands of a global economy fuels innovation and boosts productivity. This, in turn, creates good jobs and drives economic growth."

Some highlights of the annual report include:
-- In collaboration with partners, NSBI's trade services helped 328 companies expand existing markets and explore new markets.

-- Seven companies committed to additional growth in the province and this activity from investment attraction clients is forecasted to generate an average salary of $51,316.  

–- Seventeen business financing projects were authorized, and six companies have enhanced their productivity using the Strategic Investment Fund.

-- Under NSBI's venture capital division, four projects were authorized.
"Although our economy has clearly seen the impact of global turbulence, we still have seen some success in Nova Scotia, and now is the time to be even more strategic and vigilant," said Stephen Lund, president and CEO of NSBI. "There is a lot more we can do to help our clients and partners stay aggressive and proactive so we can continue to see world-class business growth in the province and around the world."   

The 2010-11 annual report measures NSBI against goals from its 2010-11 business plan. For more information on NSBI's results, visit http://www.novascotiabusiness.com/Report2011

Nova Scotia Business Inc. is the province's private-sector-led business development agency. Through trade development, investment attraction, business financing and venture capital, NSBI helps local companies and attracts international businesses to Nova Scotia.

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Mel Rusinak
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