Opportunities For ProsperityA New Economic Growth Strategy for Nova Scotia

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Strategic Directions

Investment

Increase investment, both local and external

Meeting our needs for better education and health care, while continuing to reduce our deficit, means we must grow our economy. To do so, Nova Scotia must attract new business into the province, and retain and expand existing companies. Expanding the economy requires greater investment by firms that are focused on export markets.

IssueActions/Next Steps
Public educationRaise the level of public debate and understanding about the need for investment, government’s role in encouraging investment, and how Nova Scotia compares with other jurisdictions in this area
Investment framework Implement an accountable and transparent approach to investment that includes efforts to attract anchor companies, use of lending and financial incentives, reduced business taxes, and specialized training programs; analyse and advise on the most effective government role in helping equity capital formation
Cluster developmentWork with key partners to create industry clusters; attract and recruit anchor companies
Marketing Nova Scotia Make an aggressive case for investment in Nova Scotia by marketing our unique strengths and opportunities directly to potential investors, at home and outside Nova Scotia
Federal/provincial co-operationPartner with other governments to attract outside investment and develop synchronized activities
Internal investmentMake it easier for Nova Scotians to invest at home through such programs as Community Economic Development Investment Funds and community bonds
Business retentionIdentify and remove obstacles to business growth through a and expansion focused business retention and expansion strategy, which will cover information, capital sources, incentives, business costs, and human resources issues

Measuring Progress—Provincial economic development organizations will report regularly on the successes and challenges of our investment attraction program.


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