NSBI Announces 201112 Annual Results

first_img For more information on NSBI’s 2011-12 annual report visit http://www.novascotiabusiness.com/AR2011-12. Nova Scotia Business Inc. is the province’s private-sector-led business development agency. Through trade development, investment attraction, business financing and venture capital, NSBI assists local companies and attracts international companies to Nova Scotia. For more information, visit www.nsbi.ca. In collaboration with partners, NSBI’s trade services assisted 441 companies expand existing markets and explore new markets, versus 328 from the previous year. Investment Attraction, which focuses on attracting new investment to the province, closed five foreign direct investments deals for the fiscal year. The approximately $11 million in earned incentives will create up to 1135 jobs and $162 million in payroll and benefits. The province can potentially earn up to $16 million in direct tax revenue though these agreements. NSBI charted five transactions in business financing providing structured financial solutions totalling about $2.4 million to help Nova Scotia businesses grow. NSBI Venture Capital’s five transactions provided access to about $14,850,000 in capital for businesses in Nova Scotia. The client-reported actual and forecasted export sales more than doubled to $318 million. Nova Scotia businesses are trading more, exporting more and creating more jobs in key sectors across the province, thanks to strategic provincial investments through Nova Scotia Business Inc. (NSBI). NSBI released its tenth annual report today, Dec. 6, which covers the fiscal period from April 1, 2011, to March 31, 2012, and marks the end of NSBI’s second five-year strategic plan cycle. “Nova Scotia is turning the corner on 20 years of the worst economic performance in the country and we are doing this by helping businesses showcase their innovation and products to the world – and by supporting the creation of high value jobs across the province,” said Percy Paris, Minister of Economic and Rural Development and Tourism. “Our information technology sector is growing faster than any other province – and that was before IBM selected Nova Scotia as home for its Canadian global delivery centre.” This fiscal year was one of NSBI’s busiest in investment and trade development. Export Development Canada forecasts Nova Scotia export growth to lead the country in 2013. KPMG recognized Halifax’s financial service sector as the fastest growing hedge fund administration centre in the country and Nova Scotia’s information technology sector grew faster than any other province in Canada over the last five years. Stephen Lund, president and CEO of NSBI, said that in spite of the economic turbulence of the past few years, Nova Scotia has seen a 35 per cent increase in trade activities over the last year. “We continue to see more world class companies, like Admiral Administration, wanting to do business in Nova Scotia,” said Mr. Lund. “These gains have positioned Nova Scotia for future growth and created an opportunity for us to illustrate our success in bringing Nova Scotia to the world and the world to Nova Scotia.” During the past fiscal year, NSBI, along with its partners and clients, has done business in over 40 countries, spanning five continents. In 2011-12, the growth in total trade exceeded the growth of provincial GDP by eight per cent. “NSBI is helping our Springhill-based company achieve its goals and service increasing demand in our export markets, especially in the renewable energy sector in Europe and Central America,” said James Surrette, president, Surrette Battery. Some highlights of the annual report include:last_img read more

BC premier says First Nations opposition a bump in the road for

B.C. premier says First Nations opposition a bump in the road for LNG by Geordon Omand, The Canadian Press Posted May 12, 2015 2:47 pm MDT Last Updated May 12, 2015 at 9:30 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email BURNABY, B.C. – B.C. Premier Christy Clark insists the possible rejection by a First Nation of a liquefied-natural-gas terminal is nothing more than a bump in the road for a multibillion-dollar pipeline project.Clark says she believes reaching a negotiated agreement with the 3,700-member Lax Kw’allams First Nation, on whose territory the terminal would be built, is only a matter a time.Pacific NorthWest LNG wants to transport natural gas from the northeast corner of the province to an export facility on Lelu Island, just south of Prince Rupert.Band members have been asked to vote on a $1.15 billion offer over 40 years in exchange for their consent for the project.“It’s always a bit of a bumpy road to get to a negotiated agreement but I think we’ll get there,” said Clark about the possibility of a No vote. “It’s part of the process.”Lax Kw’allams band member Malcolm Sampson was present for the initial two votes in Port Simpson and Prince Rupert and said both sessions resulted in unanimous rejection from members.The same outcome is expected for the third and final vote in Vancouver on Tuesday, said Sampson.The band’s primary concern relates to the project’s potential impact on Flora Bank, an underwater area immediately adjacent Lelu Island where an abundance of eel grass provides vital habitat to maturing salmon in the Skeena watershed.Pacific NorthWest LNG responded to concerns by proposing to build a 1.7-kilometre suspension bridge that would bypass the sensitive underwater ecosystem. The span would be anchored by a pair of support towers, one planted on the edge of Lelu Island and the other just outside Flora Bank.A trestle would then carry the pipeline the remainder of the nearly three kilometres to LNG carriers waiting at a deep-water berth.The company recently submitted additional documents requested by the Department of Fisheries and Oceans related to the updated infrastructure proposal.Observer and energy lawyer David Austin wonders why the band is set on holding a vote without all the information on the table, calling the move premature.“The full impact is still unknown,” said Austin, who is with the firm Clark Wilson.But rejection wouldn’t necessarily scuttle the project.Lelu Island is Crown land managed by the Prince Rupert Port Authority, which means the province technically has the authority to push ahead without support from the Lax Kw’allams.Even if the First Nation band proves it has aboriginal title — which would require proving it has had exclusive occupancy of the territory — Supreme Court precedent gives the province the right to override that claim.“From a legal perspective it would be very complicated to proceed with the LNG terminal without (First Nation) support,” said Austin. “But if the circumstances were right not impossible.”The length of time required to sort out the legal uncertainty resulting from a lack of First Nations support might encourage LNG developers to go elsewhere with their investments, he added.The B.C. government said it has reached 54 pipeline-benefits agreements with 28 First Nations across the province. Of the 59 First Nations along the natural-gas pipeline ending at Lelu Island only five have publicly announced signing agreements with the government.— Follow @gwomand on Twitter read more