Halifax, the capital city of Nova Scotia, provides one of the most cost-competitive locations for doing business in North America.
With a population of over 418,000, Halifax is the economic centre for Canada’s east coast and generates 22.9% of the region’s combined GDP. Halifax is home to one of the most diverse economies in Canada with many strong business sectors including:
- Energy – Propelled by a strategic investment in geoscience data, Halifax’s energy sector in particular is filled with renewable resource opportunities in wind, hydroelectricity and tidal developments along with offshore projects. According to the Atlantic Provinces Economic Council (APEC), there are currently $60 billion worth of projects on the books that are directly tied to the energy industry in Atlantic Canada.
- Transportation & Logistics – As the heart of Atlantic Canada’s Gateway, Halifax is the trans-load hub for imports destined to the Midwest and Central Canada. The Halifax Gateway is comprised of the Halifax Stanfield International Airport, the Port of Halifax, two post-Panamax container terminals, CN Rail, a strong logistics and warehousing sector and excellent highway infrastructure. It is the conduit for the diversified energy sector in Atlantic Canada. The Gateway moves and stores goods such as biomass, windmill parts, tidal turbines, hydroelectric equipment and transmission towers and also acts as the major supply base for energy giants such as Shell and BP.
- Oceans Technology – It should be no surprise that Halifax is a world leader in the oceans sector with its strategic location, the focus of its universities and community college, and the depth of its science-based workforce. We are Canada’s Ocean City. With a provincial economic impact of $2.5 billion, our oceans sector includes goods and services providers engaged in oceans technology, fisheries and aquaculture, life sciences, shipbuilding, and ocean observation, as well as marine-centric defence and security, transportation, life sciences and energy.
- Financial Services – Halifax is Atlantic Canada’s financial services capital, with one of the largest concentrations of financial services companies in Canada. There are almost 2,000 firms that employ 16,000 people. It is also home to the regional headquarters of Canada’s largest banks (“the Big 5”) and global financial services providers including Citco Fund Services, Marsh, Mitsubishi UFJ Fund Services, Admiral Insurance and more.
- ICT, Gaming & Interactive Media – With companies like Lixar, CGI, Citco, and DHX Media, our diverse ICT, gaming and interactive media sector includes more than 600 companies and provides employment for approximately 23,000 people in Nova Scotia.
Halifax offers the TLC needed for your business success – Talent, Location and Cost.
Our six universities and three community college campuses attract and train young talent from around the world. 70 percent of the city’s workforce has a post-secondary degree or certificate, among the highest post-secondary attainment rates in Canada.
Halifax is a strategic location for moving goods in and out of North America, travelling to and from international destinations, or delivering services across European, North American and Caribbean time zones.
Finally, the cost of doing business in Halifax is 15.5% below the U.S. average and as much as 33.0% lower for professional and financial services. Year after year, surveys consistently rank Halifax as one of the best places for business cost competitiveness.
Our prime geographic location, skilled workforce, cost-competitive advantages, thriving industry sectors and favourable R&D environment make Halifax the location of choice for a wide array of new and expanding businesses.
For more information on economic data, services, and travelling to Halifax, Nova Scotia, visit the links below: