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Vital Economic Sectors
Foundation Industries
While much publicity has been focused
on the dramatic reductions in the size
of our coal and steel industries and the
disappearance of the groundfish, many
of our foundation industries continue to
grow and innovate. They remain crucial
to the future of our economy. Each will
benefit from the work in the strategic
areas, while offering lessons for other,
newer sectors and opportunities for
continued growth.
Ocean resources. The continuing
evolution of Nova Scotia from a harvester
of a natural resource to a producer of
value-added seafood products will be
the focus of this sector. Fishing and fish
products remain Nova Scotia’s leading
category of exports, valued at $900
million of the industry’s total market
value of more than $1 billion.
Opportunities for development exist in
both the primary sector and secondary
industries of the ocean resources cluster.
Commercial fishing, aquaculture, sport
fishing, and boat building all have solid
growth potential. Nutraceuticals and
pharmaceuticals from seafood products
also have significant potential. The ocean
cluster faces many of the same challenges
as other industries, such as the availability
of appropriately trained workers and
access to capital, but it also faces some
unique challenges. A Nova Scotian way
needs to be found to enable fishing and
offshore gas and oil industries to
coexist, as they do in the North Sea.
Collaboration with the federal
government is required to deal with
harbour infrastructure and regulatory
issues.
Land resources. Our land-based natural
resources, including forests, minerals,
and wildlife, have been the foundation
of the economy for generations. These
sectors provide about 10,000 direct
well-paid jobs and $1.5 billion in annual
sales; they account for about one-third
of the province’s exports. Resource-based
industries and businesses will continue
to provide considerable economic value,
especially in rural areas. Major challenges
facing these sectors are the need to
manage resources to ensure sustainability
and to meet increasingly stringent
environmental standards in export
markets. Pressures on the land base are
increasing for both consumptive and
protection-oriented uses such as resource
extraction, hunting and other outdoor
recreation, wildlife and habitat,
ecotourism, and conservation of natural
areas. The appropriate balance can
provide both economic and quality-of-
life advantages to Nova Scotians. These
sectors should also continue efforts to
add more value to resources to provide
greater economic benefits. To remain
competitive and to meet increasingly
stringent environmental requirements,
the resource industries will have to
continue to adopt new technologies,
which in turn will have training
implications for those employed in
these sectors.
Agriculture. Agriculture is a solid
foundation of the province’s rural
economy, where it is a major employer.
It is increasingly a highly diversified
science and technology-based industry.
The value of processed and unprocessed
products is almost $1 billion a year;
annual exports to 75 countries now total
some $126 million. The sector faces
many issues, including in the areas of
land use, water quality and quantity,
lending and investment, and education
and training to keep abreast of a
knowledge-intensive global business.
Opportunities in agriculture are many:
stronger links to the life sciences sector
and tourism; growing market for
organic and natural foods; further
participation in the development of
environmental technologies; and
increasing exports.
Tourism and culture. Nova Scotia’s
tourism and culture sectors have
established a strong presence in the
provincial economy, contributing to
economic growth and quality of life.
There is tremendous potential to build
on this success and the emerging
opportunities of these industries to
stimulate growth in all regions. Tourism
revenues reached $1.256 billion in 1999,
with employment growing to 36,300
direct and indirect jobs. Strong
partnerships between government and
the tourism industry have resulted in a
collaborative approach to focusing
efforts and resources on priorities.
Development of a new sector strategy
by the Tourism Partnership Council is
evidence of the focus and commitment
of all stakeholders to achieve growth in
this industry. We are well positioned to
take advantage of strategic opportunities
to enhance the competitiveness of
Nova Scotia as a world-class destination.
Opportunities include developingtouring and niche markets, building a
year-round season, increasing yield from
core markets, improving transportation
access, strengthening product quality, and
improving the business environment.
Issues affecting growth include global
competition, capacity issues concerning
seasonality, and air access into Nova
Scotia. Other pressures include fuel
prices, exchange rates, and demographic
trends.
The business of culture has emerged as
one of the fastest-growing sectors in
Nova Scotia. The value of the sector is
estimated to be $808 million, creating
more than 29,000 direct and indirect
jobs. Growth has been fuelled by a
mature cultural infrastructure, world-class
products, an increase in the number of
professional artists and cultural workers,
and strategic links with the education
and tourism sectors. The development
of communities across Nova Scotia has
been bolstered by the growth of cultural
businesses and institutions. Culture has
enhanced quality of life, contributing to
a positive environment to attract business,
and assisted with promoting Nova Scotia
and its products internationally. Today,
new industries and technologies are
facilitating the sector’s expansion.
Traditional sub-sectors of the arts and
heritage have been joined by film,
television, sound recording, new media,
and Internet content production.
Opportunities exist to build on these
areas to position Nova Scotia as a source
of highly competitive cultural products.
Direction for the development and
promotion of culture will be guided by
the Nova Scotia Culture Sector Strategy.
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Each of the seven strategic directions outlined in the previous section can strengthen development of these foundation industries as they seek to more fully tap into their potential and address the challenges ahead. Similarly, these foundation industries can benefit from expansion of the five areas identified as growth opportunities in the next section.
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