Halifax business case august 2010 final

GREATER HALIFAX BUSINESS CASE

AUGUST 12, 2010

WWW.GREATERHALIFAX.COM

HALIFAX – A CENTRAL LOCATION

• 60 million people within 2 hours

• Closer to Boston than to Montreal

• Closer to New York than to Toronto

• 60 million people within 2 hours

• Closer to Boston than to Montreal

• Closer to New York than to Toronto

THE BASICS

• Halifax is Atlantic Canada’s largest city, home to 372,858 people

• 67% of the population have post-secondary education

• Nova Scotia has the most diversified and stable economy in the Atlantic region.

• Halifax produces 47% of Nova Scotia’s Total GDP– 20% of Atlantic Canada’s Total GDP

• Halifax produces 47% of Nova Scotia’s Retail Sales

ECONOMIC SNAPSHOTQ1 2010 March 08 March 09 March 10 % Change Trend

LABOURFORCEEmployment (‘000) 211.3 215.9 217.7 1.0%

Labour force size (‘000) 219.5 229.6 232.4 1.2%

Participation rate 70.4% 71.8% 71.8% 0.0Unemployment rate 4.8% 6% 6.4% 0.4

Average Weekly Earnings $688 $758 $772 1.8%

HOUSING

Average housing sale price* yr to date $218,909 $229,190 $248,065 8.2%

New housing price index 148.2 150.5 151.5 1

Housing starts* 423 274 466 70%

Housing sales* 1324 975 1248 27.6%

CONSUMPTION

Inflation rate 2.2% 0.2% 2.5% 2.3

Retail sales ($ millions)* 1,525 1,466.5 1,590 8.4

ECONOMIC SNAPSHOT

CONSTRUCTION

Building permits($ millions) 52.5 27.8 56.0 101.4%

Investment in non-residential construction ($ millions) 72 98 100 2%

TRANSPORTATION

Aircraft passengers* (enplaned/deplaned) 814,786 721,226 736,791 1.3%

Total Cargo Volume*(metric tonnes) N/A 2,358,423 2,389,527 1.3%

Economic Snapshot1st Quarter 2010 March 2008 March 2009 March

2010%

ChangeTrend

* Cumulative from January to December 2009 Sources: • Statistics Canada: LabourForce Survey, Retail Trade, Consumer Price Index (CPI), New Housing Price Index, Building Permits, Investment Non

Residential Construction. • Canadian Housing and Mortgage Corporation (CMHC) Housing Now Halifax• HIAA• Halifax Port Authority

ECONOMIC SNAPSHOT

10-YEAR ECONOMIC OVERVIEW

Indicator 1996 2006 TrendPopulation 359,111 372,858 Employment (‘000) 164.1 204.8 Unemployment Rate 8.2% 5.0%Inflation Rate 1.6% 2.8%Housing Starts 2,022 2,511 Retail Sales ($ millions) 3,429 5,675

University enrolment 24,433 32,926

Sources: Statistics Canada, CMHC, MPHEC

DIRECT NON-STOP FLIGHTS FROM HALIFAX

Calgary 4/day

Montreal 10/day

Ottawa 8/day

Toronto 17/day

Boston 5/day

Washington, DC 1/day

Detroit 2 /day (summer)

Atlanta 1/week

New York•2 to JFK,•4 to Newark, •2 to La Guardia

8/day

Chicago 2/day

London UK(Gatwick, Heathrow)

Gatwick, summer – 3/week

Heathrow – 1/day

ParisJune 12 – Oct 30 07

1/week

BelfastJune 9 – Oct 27 07

1/week

KeflavikMay 17 – Sep 20 07

3/week

Frankfurt 3/week

Bermuda 1/week (peak winter & summer)

DIRECT NON-STOP FLIGHTS FROM HALIFAX

Scheduled and Charter Passenger Services • 16 Domestic • 12 Transborder • 17 International

Destinations (USA) Destinations (International) Destinations • Calgary, AB • Atlanta, Georgia • Bermuda – Hamilton

• Charlottetown, PE • Boston, Massachusetts • Cuba – Cayo Coco, Holguin, • Deer Lake, NL • Chicago, Illinois • Santa Clara, Varadero • Edmonton, AB • Detroit, Michigan • Dominican Republic –

• Fredericton, NB • Ft. Lauderdale, Florida • Puerto Plata, Punta Cana • Gander, NL • Newark, New Jersey • France – Paris • Goose Bay, NL • New York (JFK), New York • Germany – Frankfurt

• Hamilton, ON • New York (LGA), New York • Iceland – Reykjavik • Moncton, NB • Orlando, Florida • Jamaica – Montego Bay

• Montreal, QC • St. Petersburg, Florida • Mexico – Cancun, Cozumel • Ottawa, ON • Tampa, Florida • St. Pierre et Miquelon

• Quebec, QC • Washington (IAD), DC • United Kingdom – Glasgow, • Saint John, NB • • London (Gatwick), • St. John’s, NL • London (Heathrow) • Sydney, NS • Toronto, ON

HALIFAX IS ATLANTIC CANADA’S PRIMARY CENTRE FOR:

• Information Technology• Finance & Insurance • Government• Business services• Education • Health-care• R&D• Energy• Transportation• Media• Retail• Tourism

HALIFAX QUICK FACTS

At the end of 2009:

• Population – 372,858• Labour Force Size – 215,700• 400,000 people within 30 miles• Unemployment rate – 6.2%• 47% of Provincial GDP

5%

5%

6%

7%

8%

30%

16%

12%

7%

4%

2%

Age 0 to 4

Age 5 to 9

Age 10 to 14

Age 15 to 19

Age 20 to 24

Age 25 to 44

Age 45 to 54

Age 55 to 64

Age 65 to 74

Age 75 to 84

Age 85 and over

POPULATION BY AGE – HALIFAX 2006

Source: Statistics Canada

EDUCATION ATTAINMENT

Source: 2006 Census of Canada, Nova Scotia Perspective, Release #7, Nova Scotia Department of Finance, Statistics Division

• 67% of the population of Halifax have trade, college or university qualifications – the 4th highest in Canada.

High school

23%

Trades 13% College,

25%

Uni-versity

39%

EDUCATIONAL ASSETS

• Six degree granting universities• Customized training to meet the needs of business• Professional development

• Three community college campuses• Customized training to meet the needs of business

• 20+ private career colleges

NOVA SCOTIA COMMUNITY COLLEGE

• Three campuses providing certificate & diploma programs, apprenticeship training to over 4,000

students.• Additional 6,000 people enroll annually in credit

courses on a part-time basis.• Waterfront campus accommodates 1,700 to 1,800 students

UNIVERSITIES IN THE MARITIMES

HALIFAX HANDPRINT

• Engaged world leader in youth retention, Next Generation Consulting, to identify Greater Halifax’s

strengths and liabilities with respect to the attraction and retention of the next generation.

THE PLAN

• Retain and engage Halifax’s current young professionals

• Connect emerging professionals to internships, jobs, employers and the community

• Continue to develop Halifax as a global magnet for the next generation

• Reach out to the convincible

ENGAGING YOUTH

• A young professionals organization for young Halifax residents who are inspired to make their city a better place to live, work and play.

• Membership has grown to over 1800 members.

• 7 Action teams: 1. Arts & Culture, 2. Urban Design, 3. Education, 4. Health and Wellness, 5. Sustainability, Immigration and Diversity, 6. The People Factor – creating more YP

Friendly workplaces

QUALITY OF LIFE

• Vibrant arts and culture environment - symphony, theatre, art galleries, museums, historic sites, major junior hockey

• Hub city, pub & club city• Variety of recreation - parks, beaches, hiking, boating, golf • Physical beauty• Over 10% of Halifax workers walk to work• Civic management, Harbour Solutions, Recycling, Pesticide By-Law