Contents | Previous | Next  Making It Happen The organizing principles for the new structure will be to create smaller, more efficient operations within a strong accountability framework. To help an economy grow, the public and the private sectors have distinct roles to fulfil. There is, of course, also an important role for the “third sector,” the citizen and community groups that undertake so many of the tasks that make our society a better place. In the recent past, government took on some economic development tasks better left to the private sector, and perhaps, it neglected some of the work that government should do. The messages government received during the consultations and the lessons learned from other jurisdictions clearly indicated that things must be done differently. Government must work more closely with the private sector if we are to achieve sustained economic growth. Government must develop partnerships between provincial departments and with communities and other governments. Government must make a definitive break from old structures and take a fresh approach to supporting economic activity in Nova Scotia. The actions and next steps outlined in the previous sections on strategic directions and vital economic sectors require an efficient framework if they are to have any impact. That framework must have clearly defined mechanisms that consistently support the thinking and work behind the elements of this strategy. To achieve this, the government will put in place a two-pronged structure: one focused on “business” activities, the other on “government” activities. The current department of Nova Scotia Economic Development will be replaced by two organizations: Nova Scotia Business Inc., a corporation with a private-sector board made up mainly of business leaders from across the province chosen for their skill, acumen, and leadership Nova Scotia Economic Development Agency, a new government body with a strong policy and co-ordination role and a focus on excellence The organizing principles for the new structure will be to create smaller, more efficient operations within a strong accountability framework that has focused mandates and clear outcome measures to benchmark progress.   Nova Scotia Business Inc. The mandate of Nova Scotia Business Inc. will be to stimulate economic development opportunities and maintain a strong presence throughout Nova Scotia. The private sector-led corporation will manage and co-ordinate the province’s front-line business development functions. It will attend to the economic sectors listed in this document as the five key growth opportunities: the digital economy, energy, advanced manufacturing, the learning industry, and the life sciences sector. Core business lines of the corporation will be consistent with approaches identified in the growth strategy consultation and will include investment attraction and business retention and expansion. This work will involve such tools and initiatives as trade development; marketing and information management; competitive intelligence and information development; and lending, venture capital, and performance-based incentives that do not hinder business competitiveness. Nova Scotia Business Inc. will have a strong focus on accountability. A board of directors will manage the corporation’s activities. It will produce a five-year strategic plan and present an annual business plan to government. The board will be made up mostly of representatives from small and large businesses from across Nova Scotia and will have a chairperson from the private sector. Board appointments will be for five years to allow for consistency of approach and will be structured so that board membership is partially changed each year. The board will hire the corporation’s chief executive officer.   Nova Scotia Economic Development Agency The mandate of the Nova Scotia Economic Development Agency will be to manage government activities in support of economic development. It will be the lead agency for all government support for economic development. It will bring together key units dealing with economic development as outlined in The Course Ahead. Core business functions will be undertaken in close partnership with Nova Scotia Business Inc. and other provincial and federal departments. It is essential that the agency and the corporation operate in a mutually supportive partnership on all issues, with the corporation providing the link to business and the agency maintaining the link to governments. Core business lines of the agency will include: knowledge management (policy, evaluation, business planning); special projects and liaison with communities in economic transition like Cape Breton Regional Municipality; business climate; changing labour force demands; strategic infrastructure projects; government relations regarding economic development issues; and the maximizing of industrial benefits relating to major procurement projects. Partnership between the new corporation and the new agency will be important for the growth of the Nova Scotian economy. Other partnerships will also be important. Closer links with the federal government and Nova Scotia’s 55 municipal governments are vital. So too is stronger collaboration among the provincial departments that deal with economic development issues. The economic development aspects of the annual business planning process of government must be guided by the strategic directions spelled out in this paper. The provincial government will work to build links with and among businesses, labour, the regional development authorities, and the many community organizations active in different aspects of support for economic growth. The government firmly believes the strategic directions outlined in this report point to a more prosperous Nova Scotia, and as the work evolves, its stewardship of and commitment toward this strategy will be demonstrated in annual report cards compiled by an outside agency and made public. In the meanwhile, government cannot stand still. It will use its own annual planning process to ensure that the thrust of this strategy is reflected in departmental plans. Over the next 12 months, it will develop detailed plans for the actions and next steps outlined. The following timetable will serve as a guide: Fall Launch of economic growth strategy   Made in Nova Scotia Investment Framework   Start of restructuring of economic development functions   Cape Breton Growth Fund Winter    Gas and oil economic development strategy   Report of the Red Tape Commissioner   Comprehensive community economic development policy   Business climate index Spring Brand Nova Scotia campaign   Nova Scotia trade plan   Business retention and expansion plan   Provincial infrastructure scorecard Summer  Nova Scotia immigration action plan   State of business report   First annual strategy report card Contents:   Contents Premier’s Message Minister’s Message Introduction What We Heard What We Learned Where We Want to Go How We Will Get There  Strategic Directions    - Business Climate    - Infrastructure    - Innovation    - Labour Force    - Investment    - Exports    - Regional Capacity  Vital Economic Sectors    - Foundation Industries    - Growth Opportunities Making It Happen  Nova Scotia Business Inc.  Nova Scotia Economic Development Agency Measuring Progress Home Highlights | Strategy | News Release | Background | Feedback Form  Comments to comm@gov.ns.ca | Privacy Statement Copyright © 2006, Government of Nova Scotia, All Rights Reserved.