NSBI Key Player in Growing Business in Nova Scotia

Oct 31, 2005

Nova Scotia Business Inc. (NSBI), the province’s business development agency, released its third annual report today, Oct. 31.

Here and abroad, NSBI collaborates with companies and organizations, and its effort has contributed to the expected maintenance and creation of more than 3,000 jobs. These jobs will generate more than $160 million in total annual payroll and more than $20 million in additional annual provincial taxes.

"The sum is great because all of its parts work together toward a common goal," said Tom Stanfield, chair of NSBI’s board. "In today’s business environment, a company’s growth and long-term success is not without strategic partnerships."

The annual report covers the fiscal year from April 1 2004 to March 31 2005 and includes the following highlights:

NSBI’s business advisory team, living and working in communities across Nova Scotia, proactively carried out 700 face-to-face meetings with business owners and managers across the province, creating more than 324 qualified referrals to take these businesses to the next level of growth.

Business development executives with NSBI, in conjunction with private and public-sector partners, gathered intelligence and developed value propositions for key sectors, ultimately driving home 12 transactions with some of the world’s top companies in IT, manufacturing, and energy. Up to 1,925 jobs at an average salary of $53,000 will be created and maintained from payroll rebate investments. These well-paying jobs exceed the average salary throughout Nova Scotia, and help to increase the province’s growth and prosperity.

Connections made during trade missions to South Carolina allowed Windsor-based apple producer J.W. Mason to turn contacts into real business expansion opportunities for the future.

"NSBI is proud to play a part in the success of our clients," said Stephen Lund, president and CEO of NSBI.

"NSBI and its partners work hard to create new jobs, promote exports, and attract new businesses to the province," said Ernest Fage, Minister of Economic Development. "Everyone has a stake in Nova Scotia’s prosperity. Through teamwork, we are continuing to see business growth and job creation in every region of the province."

Nova Scotia Business Inc. is the province's business development agency, an organization that works with companies to provide business solutions. The private sector-led agency works to attract new business to the province and help those already in Nova Scotia expand through services such as export development and financing.