Budget Bulletin: Prosperous Communities

Strengthening Nova Scotia's position in the competitive world of international commerce is a priority for the government of Nova Scotia. The time is right to accomplish this objective by establishing Nova Scotia an international gateway.

Nova Scotia has tremendous advantages. Its ports are North America's closest mainland links to Europe, India and Southeast Asia via the Suez Canal. The existing infrastructure has the capacity to take advantage of rapidly emerging markets in China and India. Nova Scotia is a natural, intercontinental portal to North America, with its close proximity to markets, ice-free, deep-water ports, and excellent rail, truck and air connections.

The province will invest another $750,000 to aggressively market Nova Scotia as an international gateway, bringing the total commitment to $1 million. The province will also continue to work with the private sector and the federal government to ensure this national opportunity is realized.

Employment numbers in the province have reached record levels. It has steadily increased over the past several years. Since its creation, Nova Scotia Business Inc., has created or maintained about 18,000 jobs. The Industrial Expansion Fund has also successfully increased economic growth. The fund has helped create or maintain 3,600 jobs, created $97 million in new annual salaries and wages, and provided a return of three dollars in direct and indirect tax revenue for every one dollar invested.

The province will also invest $750,000 in a revitalized Winter Works Program. The program will provide a wage subsidy to businesses, municipal governments and not-for-profit organizations so they may hire unemployed or underemployed individuals. The program will be administered by the Office of Economic Development.

More students will be working this summer. An additional $800,000 will be allocated to the Summer Employment Program for students, bringing the total program expenditure to $2.3 million.

Note: For further 2007-08 budget information, see the Department of Finance website at www.gov.ns.ca/finance.