The Halifax Region Economic Strategy, unanimously endorsed by HRM Council in 2005, outlines the path of future economic development work in Greater Halifax.
The responsibility of leading the economic strategy has been tasked to the Greater Halifax Partnership and our Board of Directors, and we are responsible for the majority of the actions identified in the strategy.
We have aligned our actions with our goals, goals that are shared with the Halifax Region Economic Strategy. They are:
Supercharge Our Labour Force
An unemployment rate that is one of the lowest in the country, along with an aging population – means a labour shortage eventually looms for HRM. The best way to head off a crisis is generating upscale, high salary jobs in growth industries so we can hold onto those whip-smart grads from our plethora of universities, tempt well-educated immigrants, and entice mid-career fast-trackers back home.
Leverage Our Creative Community
Creativity is what drives every dynamic, modern economy. The communities that attract and keep smart, creative, diverse people are the ones that invest their public dollars astutely. The right strategy can give the economy added zip. But strategic investments in things like public art galleries, libraries and green spaces for Sunday picnics and kid’s soccer games also help make a city the kind of luminous, livable place that everyone wants to call home.
Create A Gung-Ho Business Climate
A prosperous economy attracts and supports smart, risk-taking companies and creates the kind of dynamic investment environment that helps everyone in the community achieve their dreams. Competitive taxes, reduced red tape and improved infrastructure make for a first-rate business climate. So does promoting technology and encouraging innovation.
Capitalize On Our Reputation
The cutthroat competition for business and tourism dollars and the best and brightest in the labour pool isn’t won by accident. A fiercely business-friendly image celebrates our distinctiveness and sets us apart from our rivals. By promoting our advantages – a large creative class, a well-educated work force, and a superb life-style – we demonstrate pride in our city and solidify our identity as a business and commercial centre
Convert Rivalries Into Partnerships
Retooling a city’s economy requires teamwork, not rigid bureaucracies and petty turf wars. Working together toward common goals allows all partners in our community, government agencies, non-profits, postsecondary institutions, and business to fully leverage their efforts. The end result: everyone works faster and more nimbly to get the biggest bang for their economic development dollars.
Of course, we are not alone. Other organizations play a critical role in implementing the strategy:
- Halifax Regional Municipality
- Atlantic Canada Opportunities Agency
- Nova Scotia Office of Economic Development
- Destination Halifax
- Nova Scotia Business Inc.
- Halifax Chamber of Commerce
The Chamber will be tracking the success of our collective efforts and will release an annual scorecard that measures our success in 30 key areas.
Alignment of all our efforts is key, and to ensure there is alignment, our Board has struck an Economic Strategy Committee that includes representatives of organizations responsible for delivering activities under the strategy.
But the path to success is not an easy one. First comes knowledge and understanding, then comes action. The decisions and investments we make today, and the priorities we set now, will affect us over the next decade and well into the future.