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Fred Morley, Greater Halifax Partnership presentation


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HGC Halifax Logistics Park Summit 2012

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Fred Morley, Greater Halifax Partnership presentation

  1. 1. HA L IFA X:C UR R E NT C ONDIT IONSA ND E C ONOMICP R OS P E C T S Fred Morley EVP and Chief Economist November 2012
  2. 2. T HE G R E AT E R HA L IFA X PA R T NE R S HIP Investor Relations Community Investment Economic Attraction Development Competitive Intelligence & Connector Strategic Advice Marketing Halifax Gateway Partnership Smart- EconomicBusiness Strategy
  4. 4. Question 1:How Big is Halifax?1. 600 Sq km2. 3100 Sq km3. 5600 Sq km4. 9200 Sq km
  5. 5. Answer 1:3. 5600 Sq km, about the same size as PEI… Halifax Regional Municipality Prince Edward Island
  6. 6. Question 3:How Many Universities are there in Halifax?1. Two2. Three3. Five4. Six
  7. 7. 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
  8. 8. Question 4:Which Canadian Banks got their start here in Halifax?1. CIBC2. Royal Bank3. Bank of Nova Scotia/Scotiabank4. Bank of Montreal5. TD Bank6. National Bank
  9. 9. Answer 4:1. CIBC2. Royal Bank3. Bank of Nova Scotia/Scotiabank
  10. 10. Question 5:Halifax is the North American Centre for what?1. Centre for the study of migratory marine mammals2. Buddhism3. Agriculture Biodiversity4. Early Nordic Cultural History
  11. 11. Answer 5:2. Buddhism: for over a quarter of a centurySakyong Mipham Rinpoche, the International spiritual leaderof the Shambhala Buddhist movement , during his wedding inHalifax 2006.
  12. 12. Question 6:Who was Robert Ross?
  13. 13. 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
  14. 14. P OP UL AT ION G R OWT HCensus Metropolitan 2006 Population 2011 Actual % Growth Area Population 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%
  15. 15. 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
  16. 16. 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
  17. 17. WHAT T HE PA R T NE R S HIP OF F E R S NSCCBetter Performance & Uni Port Shipping Airport Internet Econ Dev. WF Housing Quality Phone/ Prov CellHighway WF Avail SchoolsPoorer Performance Fed Reg. NS Fed Tax HRM Reg. Reg. NS Tax HRM Tax Less Important More Important
  18. 18. 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* 30,792Sources: Statistics Canada, Conference Board of Canada,CMHC, MPHEC*Extrapolated from existing data.
  19. 19. HALIFAX SNAPSHOTINDICATORS 2011 2012Labour Force Size - August 239,400 240,300Unemployment 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 446Value of Building Permits - July ($ millions) 90.2 87.4Retail Sales - July($ millions, Seasonally Adjusted) 554.2 545.8Investment - Non-Residential Construction - Q2 90.3 103.611/12 ($mils)
  20. 20. R E C R E AT ION 24
  21. 21. A R T S A ND C ULT UR E 25
  22. 22. A R T S A ND C ULT UR E 26
  23. 23. E C ONOMIC F OR E C A S T – C ONF E R E NC EB OA R D
  24. 24. G OL DE N G OOS E
  25. 25. AT L A NT IC C A NA DA ME G A -P R OJ E C T S Atlantic Canada Mega-projects Total $60.8b Here Are A Few Examples: Potash Corp. Mine $1.7b White Rose Oil Fields Expansion $3.5b Hibernia South$1.7b Hebron Oil Fiild$8.3b Long Harbour Plant $2.8b Emera Maritime Power transmission Line $1.2b Shell Offshore Exploration Project $1b Irving National Shipbuilding Project $25b Point Lepreau Nuclear Facility Refurbishment $1.4B
  26. 26. MA J OR P R OJ E C T S : S HIP S
  27. 27. T HE B R OA D E C ONOMIC IMPA C T S F OR NOVA S C OT IA , 2012-30 Summary Economic Impact in Nova Scotia by NSPS Project Dollar values shown in $Millions Combat Non-Combat No Contract Annual Average Scenario Scenario 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*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 2002dollars). Source: Conference Board of Canada (May 2011)*** No contract scenario covers 2018-30 period where shock occurs at Halifax Shipyard after current contracts end.
  28. 28. 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
  29. 29.• 10,571 declarations of support• 4,700 email addresses collected• 33,749 pageviews since launch on June 27, 2011
  30. 30. S T R ONG S UP P OR T AT HOME
  31. 31. IN HA L IFA X
  32. 32. NE IG HB OUR HOODS
  33. 33. 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
  34. 34. A OP S S TAT US Major Milestone *AOPS DND Published DateNSPS Selection of Shipyards October 2011 ✔Signing of Umbrella Agreement February 2012 ✔Signing of AOPS Ancillary Contract June 27, 2012 ✔(initial planning)Signing of AOPS Design Contract 2013Finalize Engineering & Planning 2015Signing of AOPS Build Contract 2015Cut Steel on First AOPS 2015Delivery of First AOPS 2018AOPS Program Complete 2024 * Dates published by DND as of May 9, 2012
  35. 35. L OWE R C HUR C HIL L P R OJ E C T
  36. 36. B US INE S S E S A R E MODE R AT E LY OP T IMIS T IC Optimism rating of current economic prospects for HRM businesses Source: GHP Business Confidence Survey 80% 70% 60% 50% 40% 30% 20% 10% 0% Extremely optimistic Moderately Not very optimistic Not at all optimistic Dont know/no optimistic answer Autumn 2011 Spring 2012 Autumn 2012
  37. 37. 5 Y E A R S F R OM NOW Optimism rating of future economic prospects (5 years) for HRM businesses Source: GHP Business Confidence Survey80%70%60%50%40%30%20%10% 0% Extremely optimistic Moderately Not very optimistic Not at all optimistic Dont know/no optimistic answer Autumn 2011 Spring 2012 Autumn 2012
  38. 38. R E S IDE NT IA L A ND NON-R E S IDE NT IA L B UIL DINGP E R MIT S Residential and non-residential building permits, Halifax Source: Statistics Canada$900,000$800,000$700,000$600,000$500,000$400,000$300,000$200,000$100,000 $0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Residential Non-Residential
  39. 39. 50
  40. 40. S UC C E S S : WE ’L L K NOW IT WHE N WE G E T IT 51
  41. 41. 52
  42. 42. G OOG L E F UT UR E V IE W
  43. 43. G OOG L E S T R E E T V IE W +
  44. 44. For more information on the Halifax advantage, visit: