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Halifax Regional Municipality is undeniably the economic hub of Atlantic Canada. The region accounts for forty percent of provincial GDP, and about twenty percent of Atlantic Canadian GDP. From the period between 1996 and 2001, HRM experienced 4.7% growth in our population, a pace faster than any other large Atlantic Canadian community.
Greater Halifax has also become a growth engine for many surrounding communities that benefit from a strong critical mass of business and transportation services. However, we cannot be complacent and expect this growth to continue unless we carefully nurture the conditions for growth. The decisions and investments we make today and the priorities we set now will affect us over the next two decades.
The underlying question is: how can we better use our community resources so that our economy continues to grow at a sustainable rate, while giving us a competitive edge over other regional centres worldwide?
The amalgamation of our four communities in 1996 paved the way for economic growth, regional cooperation, and cost efficiencies. Yet, with all our resources and potential for growth, our region still lacks a clear focus and direction regarding our economic future.
In order to stay ahead of other regions, HRM needs a comprehensive economic development strategy that lays out a vision, which can differentiate Greater Halifax in the global economy. The strategy will serve to identify key growth opportunities, and develop ways for the region to properly utilize its economic development resources.
With our excellent location and unique economic foundation (human resources, research and development, business climate, and quality of life), our economy is positioned to compete with other regions nationally and internationally if we make decisions that allow business growth to accelerate. Attention will be paid to retaining all the elements residents value in their creative community such as history, culture, diversity, civility, quality of place, and rich quality of life.
For additional information, visit www.greaterhalifax.com
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