The latest edition of fDi Magazine’s biennial “American Cities of the Future” list gave a nod to Halifax, Nova Scotia, ranking the capital ninth in terms of business friendliness among cities in its category.
The city secured the accolade after its current and future economic outlooks were compared to conditions in 76 other municipalities of a similar size, which underscores the positive elements associated with doing business in Halifax.
“The Municipality is committed to creating a competitive and attractive business climate and it’s paying off,” said Halifax Mayor Mike Savage in a statement. “You don’t have to look far to see the evidence of new construction and business happening all around Halifax.”
“Halifax’s GDP rose to nearly $19 billion in 2014.”
Indeed, as the most recent iteration of the Halifax Partnership’s annual Halifax Index noted, the city’s GDP rose to nearly $19 billion in 2014, representing growth of 2.6 per cent year over year. In terms of construction, the development of new landmarks such as the Nova Centre and the Halifax Central Library have improved the value of downtown building permits, and the construction industry was third on the list of Haligonian economic sectors with employment gains, growing by 1,000 jobs in 2014. Moreover, Halifax comes with numerous competitive advantages, such as its strategic business location, high quality of life, educated workforce and position as a hub of transportation and innovation.
The nation’s cities snapped up the lion’s share of the top 10 business friendliness rankings, indicating the strength of doing business in Canada. As MyToba reported, Ottawa, London, Quebec City, Hamilton, Winnipeg and Brampton also made the list.
Halifax business news brought to you by the Halifax Partnership, Halifax’s
economic development organization.