United Proposal to Build Container Terminal
Nova Scotia took an historic step today when all three political parties presented a united proposal for federal support of Halifax's bid to become North America's first post-Panamax super port.
Don Downe, deputy premier and Minister of Finance, Darrell Dexter, New Democratic Party jobs and economic development critic, and Dr. John Hamm, leader of the Progressive Conservative Party, met with key members of the federal government to discuss what they believe is a matter of national importance.
Halifax is the only Canadian port competing against eight United States ports in its bid to win post-Panamax container traffic with the construction of a new shipping container terminal.
If successful, the economic spinoffs during the construction phase of the terminal would create 1,700 direct jobs and 4,200 indirect jobs and would generate $430 million in gross domestic product (GDP)for Nova Scotia.
The operating economic impact would result in 2,000 direct jobs and 3,000 indirect jobs generating an annual GDP gain of $335 million for Nova Scotia. The project would double current container traffic.
The benefits of the port expansion would extend far beyond the province. Economic calculations shows significant gains for central Canada due to the increased rail traffic from Halifax to the US Midwest. This extra traffic means an increase in direct jobs for both Ontario and Quebec. Economic calculations suggests that central Canada also benefits from the increased spending by the additional employment in Nova Scotia.
In total the operation of the new container facility would mean benefits for the rest of Canada in the form of a $270 million gain in GDP and 3,700 jobs a year. This is in addition to the GDP gains and direct and indirect employment increases for Nova Scotia.
The project represents a significant new source of export income for Canada. More than 80 per cent of the traffic is for American destinations, and because of that represents a gain for the Canadian economy. It also serves to strengthen the viability of the eastern Canadian rail network.
If the bid is successful, it is believed that the new container facility would be only the first of further expansions as shippers tend to coalesce around major transport hubs.
The delegation leaders will hold a joint news conference upon their return to Halifax at 10:30 a.m. tomorrow (Thursday August 13) at Province House in the foyer.