This document provides an economic overview and prospects for Halifax, Nova Scotia. It discusses Halifax's current economic conditions, assets, and major projects. Some key points include: - Halifax is Atlantic Canada's largest city with a population of 390,328 and a diversified economy - Major industries include transportation/logistics, IT, finance, education, and healthcare - Halifax produces over 50% of Nova Scotia's GDP and retail sales - Major projects boosting the economy include Irving Shipbuilding's $25 billion contract and offshore energy developments - The economy has grown moderately in recent years and businesses are cautiously optimistic about prospects.

1. 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

3. 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- Economic
Business Strategy

4. HOW MUC H DO Y OU K NOW A B OUT
HA L IFA X?
4

5. Question 1:
How Big is Halifax?
1. 600 Sq km
2. 3100 Sq km
3. 5600 Sq km
4. 9200 Sq km

6. Answer 1:
3. 5600 Sq km, about the same size as
PEI…
Halifax Regional Municipality
Prince Edward Island

7. Question 3:
How Many Universities are there in Halifax?
1. Two
2. Three
3. Five
4. Six

8. 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

9. Question 4:
Which Canadian Banks got their start here in Halifax?
1. CIBC
2. Royal Bank
3. Bank of Nova Scotia/Scotiabank
4. Bank of Montreal
5. TD Bank
6. National Bank

10. Answer 4:
1. CIBC
2. Royal Bank
3. Bank of Nova Scotia/Scotiabank

11. 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

12. 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.

13. Question 6:
Who was Robert Ross?

15. 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

16. P OP UL AT ION G R OWT H
Census 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%

17. 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

18. 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

20. WHAT T HE PA R T NE R S HIP OF F E R S
NSCC
Better Performance
& Uni
Port
Shipping
Airport Internet
Econ Dev. WF
Housing Quality
Phone/
Prov Cell
Highway WF Avail
Schools
Poorer Performance
Fed Reg.
NS
Fed Tax HRM Reg. Reg.
NS Tax
HRM Tax
Less Important More Important

21. 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.

22. 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 90.3 103.6
'11/'12 ($mils)

24. R E C R E AT ION
24

25. A R T S A ND C ULT UR E
25

26. A R T S A ND C ULT UR E
26

30. E C ONOMIC F OR E C A S T – C ONF E R E NC E
B OA R D

31. G OL DE N G OOS E

32. 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

33. MA J OR P R OJ E C T S : S HIP S

34. 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 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.

35. 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

36. CanadianShipsStartHere.ca
• 10,571 declarations of support
• 4,700 email addresses collected
• 33,749 pageviews since launch on June 27, 2011

37. S T R ONG S UP P OR T AT HOME

38. IN HA L IFA X

39. NE IG HB OUR HOODS

40. 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

41. 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
June 27, 2012 ✔
(initial planning)
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

43. L OWE R C HUR C HIL L P R OJ E C T

46. 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 Don't know/no
optimistic answer
Autumn 2011 Spring 2012 Autumn 2012

47. 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 Survey
80%
70%
60%
50%
40%
30%
20%
10%
0%
Extremely optimistic Moderately Not very optimistic Not at all optimistic Don't know/no
optimistic answer
Autumn 2011 Spring 2012 Autumn 2012

48. 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
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

50. 50

51. S UC C E S S : WE ’L L K NOW IT WHE N WE G E T IT
51

52. 52

54. G OOG L E F UT UR E V IE W

56. G OOG L E S T R E E T V IE W +

57. For more information on the Halifax advantage, visit:
http://www.whyhalifax.com