The province’s business development agency has released its vision for the next five years.
Nova Scotia Business Inc. (NSBI) unveiled its next five-year plan at an event in Halifax today, Sept. 11. This roll-out will continue at events throughout the province over the next three days.
The plan is designed to build on NSBI's accomplishments since its inception in 2001, and to provide direction for continued business growth through 2012.
“The future prosperity of our province is being shaped by the decisions we make today, and putting measures in place to ensure we have a sustainable economy is the foundation,” said Premier Rodney MacDonald. “NSBI’s five-year plan reflects an aggressive, innovative, business-savvy approach that will help us transform our economy for the next decade, and help us get to a new Nova Scotia.”
In the five-year period that ended in March, 18,600 direct and spinoff jobs were created as a result of the activities of NSBI and its clients. This surpasses NSBI's first five-year target -- helping its clients create and retain 18,000 jobs in Nova Scotia. By 2012, 27,400 jobs are projected to be in place as a direct result of NSBI initiatives in the first five years.
“We know that Nova Scotia is competing and winning both at home and abroad, said Economic Development Minister Richard Hurlburt. I look forward to the continued success of NSBI as we embark on this new journey.
NSBI undertook a comprehensive consultation process with stakeholders provincewide to understand how the organization can best support and promote business growth over the next five years. The plan is reflective of the opportunities and issues identified by these stakeholders throughout the province.
NSBI's five-year plan reflects on the issues and opportunities identified by businesses in communities throughout Nova Scotia, said Doug Hall, chair of NSBI's board of directors. The five key areas of this strategy make up the right plan of action for business growth in Nova Scotia.
The new is slightly different than NSBI's first five-year plan. The plan shifts from focusing on job creation to focusing on total client payroll. NSBI's new five-year target is to create and retain $800 million in total client payroll by 2012. This fits in with NSBI's goal of its clients creating and retaining $1 billion in total payroll by 2013. To support its overall goal of delivering results for the province, NSBI will focus on five key areas: regional growth, competitiveness, talent, leadership and collaboration.
We know our model is working; our results speak for themselves, said Stephen Lund, president and CEO of NSBI. We've set some big goals for business growth in Nova Scotia, and I'm confident in our team's ability to achieve them.
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.