Fred Morley, Greater Halifax Partnership presentation
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Transcript of Fred Morley, Greater Halifax Partnership presentation
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HA L IFA X: C UR R E NT C ONDIT IONS A ND E C ONOMIC P R OS P E C T S
Fred Morley EVP and Chief Economist November 2012
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T HE G R E AT E R HA L IFA X PA R T NE R S HIP
Partnership
Smart-Business
Marketing
Competitive Intelligence &
Strategic Advice
Investment Attraction
Investor Relations Community
Economic Development
Connector
Halifax Gateway
Economic Strategy
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HOW MUC H DO Y OU K NOW A B OUT HA L IFA X?
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1. 600 Sq km 2. 3100 Sq km 3. 5600 Sq km 4. 9200 Sq km
Question 1:
How Big is Halifax?
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3. 5600 Sq km, about the same size as
PEI…
Answer 1:
Halifax Regional Municipality Prince Edward Island
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How Many Universities are there in Halifax?
Question 3:
1. Two 2. Three 3. Five 4. Six
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Answer 3: 4. There are Six:
1. Dalhousie University, 2. Saint Mary’s University, 3. Mount St Vincent University, 4. Nova Scotia Centre for Arts and Design, 5. Kings College, and 6. Atlantic School of Theology
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Which Canadian Banks got their start here in Halifax?
Question 4:
1. CIBC 2. Royal Bank 3. Bank of Nova Scotia/Scotiabank 4. Bank of Montreal 5. TD Bank 6. National Bank
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Answer 4:
1. CIBC 2. Royal Bank 3. Bank of Nova Scotia/Scotiabank
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Question 5:
Halifax is the North American Centre for what? 1. Centre for the study of migratory marine mammals 2. Buddhism 3. Agriculture Biodiversity 4. Early Nordic Cultural History
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Answer 5:
2. Buddhism: for over a quarter of a century
Sakyong Mipham Rinpoche, the International spiritual leader of the Shambhala Buddhist movement , during his wedding in Halifax 2006.
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Who was Robert Ross? Question 6:
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HA L IFA X – T HE B A S IC S
• Halifax is Atlantic Canada’s largest city, home to 390,328 people
• 67% of the working age population have post-secondary education
• Nova Scotia has the most diversified and stable economy in the Atlantic region.
• Halifax produces 55% of Nova Scotia’s GDP – 19% of Atlantic Canada’s Total GDP
• Halifax produces 50% of Nova Scotia’s Retail Sales
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P OP UL AT ION G R OWT H
Census Metropolitan Area
2006 Population 2011 Population
Actual Growth
% Growth
St. John’s 181,113 196,966 15,853 8.8%
Regina 194,971 210,566 15,595 8.0%
Quebec 719,153 765,706 46,553 6.5%
Halifax 372,858 390,328 17,470 4.7%
Victoria 330,088 344,615 14,527 4.4%
London 457,720 474,786 17,066 3.7%
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HA L IFA X IS AT L A NT IC C A NA DA’S HUB F OR :
• Transportation and Logistics • Information Technology • Finance & Insurance • Business Services • Education • Healthcare • R&D • Media • Retail • Tourism
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HA L IFA X A S S E T S
• Finance and Insurance – Over 50% of all the fund management and related activities
companies • Specialized legal services. • Specialized business services. • Information technology services.
– 43% of the firms across the Maritime Provinces involved in computer systems design and related services are located in Halifax.
• Cultural and entertainment activity • Specialized health care.
– Halifax is home to 46% of the Maritime Provinces' specialist physicians
• Industry Associations and Non-Governmental Organizations • R&D assets
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WHAT T HE PA R T NE R S HIP OF F E R S
Prov Highway
Housing
Fed Tax
Port
Schools Fed Reg.
Shipping
Phone/ Cell
Airport
NSCC & Uni
Econ Dev.
HRM Reg.
HRM Tax
NS Tax
Internet
NS Reg.
WF Avail
WF Quality
Poor
er P
erfo
rman
ce
Be
tter
Per
form
ance
Less Important More Important
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10 YEAR ECONOMIC OVERVIEW
Indicator 2001 2011 Trend
Population 359,000 390,328
Employment 189,400 224,000
Unemployment Rate 7.0% 6.1%
Inflation Rate 2.0% 3.5%
Housing Starts 1,404 2,954
Retail Sales ($ Millions) 4,268 6,481*
University Enrolment 30,233* 30,792 Sources: Statistics Canada, Conference Board of Canada,CMHC, MPHEC *Extrapolated from existing data.
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HALIFAX SNAPSHOT
INDICATORS 2011 2012 Labour Force Size - August 239,400 240,300 Unemployment Rate - August 6.3% 6.5% Labour Force Participation Rate - August 70.6% 69.9%
Inflation Rate - August 3.5% 1.3% Housing Starts - August 232 446 Value of Building Permits - July ($ millions) 90.2 87.4
Retail Sales - July($ millions, Seasonally Adjusted) 554.2 545.8
Investment - Non-Residential Construction - Q2 '11/'12 ($mils)
90.3 103.6
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R E C R E AT ION
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A R T S A ND C ULT UR E
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A R T S A ND C ULT UR E
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E C ONOMIC F OR E C A S T – C ONF E R E NC E B OA R D
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G OL DE N G OOS E
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Irving National Shipbuilding Project $25b
Emera Maritime Power transmission Line $1.2b Shell Offshore Exploration Project $1b
Potash Corp. Mine $1.7b
Point Lepreau Nuclear Facility Refurbishment $1.4B
Atlantic Canada Mega-projects Total $60.8b Here Are A Few Examples:
AT L A NT IC C A NA DA ME G A -P R OJ E C T S
White Rose Oil Fields Expansion $3.5b
Long Harbour Plant $2.8b
Hibernia South$1.7b Hebron Oil Fiild$8.3b
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MA J OR P R OJ E C T S : S HIP S
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T HE B R OA D E C ONOMIC IMPA C T S F OR NOVA S C OT IA , 2012-30
*Direct, indirect and induced in Nova Scotia. **All dollar values except real GDP are shown in current (non-inflation adjusted) dollars. Real GDP is shown in basic prices 2002 dollars). Source: Conference Board of Canada (May 2011) *** No contract scenario covers 2018-30 period where shock occurs at Halifax Shipyard after current contracts end.
Summary Economic Impact in Nova Scotia by NSPS Project Dollar values shown in $Millions
Annual Average Combat Scenario
Non-Combat Scenario
No Contract Scenario***
Employment* 8,453 3,744 -1,169
Real GDP (basic prices) $661 $278 -$171
Federal Income Taxes $66 $25 -$17.1
Provincial Income Taxes $51 $19 -$13
Corporate Income Taxes $34 $13 -$9.6
Indirect Taxes $115 $44 -$27.3
Personal Income $447 $183 -$118
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Partners, Partners, Partners • Began with 5 core partners that grew to over 75 • Over 100,000 emails sent from partner databases • Over 100 locations with Ships Start Here materials • Mass deliveries of Ships Start Here tools & materials
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CanadianShipsStartHere.ca • 10,571 declarations of support • 4,700 email addresses collected • 33,749 pageviews since launch on June 27, 2011
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S T R ONG S UP P OR T AT HOME
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IN HA L IFA X
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NE IG HB OUR HOODS
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Social Movement: FACEBOOK • Over 6,000 active “likes” at peak
• 100s of lawn-sign photos submitted from across Nova Scotia and beyond
• Over 700,000 post views from over 2,200 interactions
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A OP S S TAT US
Major Milestone *AOPS DND Published Date NSPS Selection of Shipyards October 2011 ✔
Signing of Umbrella Agreement February 2012 ✔
Signing of AOPS Ancillary Contract (initial planning) June 27, 2012 ✔
Signing of AOPS Design Contract 2013
Finalize Engineering & Planning 2015
Signing of AOPS Build Contract 2015
Cut Steel on First AOPS 2015 Delivery of First AOPS 2018 AOPS Program Complete 2024
* Dates published by DND as of May 9, 2012
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L OWE R C HUR C HIL L P R OJ E C T
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B US INE S S E S A R E MODE R AT E LY OP T IMIS T IC
0%
10%
20%
30%
40%
50%
60%
70%
80%
Extremely optimistic Moderately optimistic
Not very optimistic Not at all optimistic Don't know/no answer
Optimism rating of current economic prospects for HRM businesses
Source: GHP Business Confidence Survey
Autumn 2011 Spring 2012 Autumn 2012
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5 Y E A R S F R OM NOW
0%
10%
20%
30%
40%
50%
60%
70%
80%
Extremely optimistic Moderately optimistic
Not very optimistic Not at all optimistic Don't know/no answer
Optimism rating of future economic prospects (5 years) for HRM businesses
Source: GHP Business Confidence Survey
Autumn 2011 Spring 2012 Autumn 2012
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R E S IDE NT IA L A ND NON-R E S IDE NT IA L B UIL DING P E R MIT S
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Residential and non-residential building permits, Halifax Source: Statistics Canada
Residential Non-Residential
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S UC C E S S : WE ’L L K NOW IT WHE N WE G E T IT
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G OOG L E F UT UR E V IE W
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For more information on the Halifax advantage, visit: http://www.whyhalifax.com
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