Nova Scotia Business Inc. Legislation

ECONOMIC DEVELOPMENT--Nova Scotia Business Inc. Legislation Introduced

Economic Development Minister Gordon Balser today introduced legislation that will create Nova Scotia Business Inc. (NSBI), one of the new entities to promote economic development activities in the province.

Mr. Balser called the legislation a turning point for Nova Scotia.

"The economic growth strategy we launched several weeks ago focuses our efforts," said Mr. Balser. "The new structure supports those efforts by using partnerships and expertise in a more efficient and constructive way than ever before. I believe these efforts will restore confidence in the decisions around economic growth and improve Nova Scotia's future competitiveness."

The legislation establishes NSBI as a corporation managed by a private-sector board of directors. The board will appoint a president and chief executive officer who will carry out the mandate of the corporation. Its principal function will be to promote economic development in Nova Scotia through business attraction, investment, retention and expansion.

The new corporation will complement a smaller Department of Economic Development. The department will establish policy and monitor business climate issues that affect Nova Scotia's competitiveness. The department and NSBI are critical players in the implementation of the government's new economic growth strategy a strategy that works in conjunction with the province's new social and education agendas.

For more information visit the website at www.gov.ns.ca/ecor/strategy/.