Economic Prosperity is a Shared Responsibility--Op-Ed Piece

NOTE: The following is an op-ed piece by Richard Hurlburt, Minister of Economic Development.

Any business in Nova Scotia, big or small, with a good business case can cut a deal with the province at anytime.

I'll tell you why.

If you've got a good business case to grow or start a new business, this government wants to hear from you. If your proposal will create new jobs, bring new business into the province or help expand existing business, we're open to discussion.

In short, Nova Scotia is open for business.

Nova Scotia's future economic success is a shared responsibility. We have serious challenges that need serious solutions and we need to be serious about how we conduct business in this province.

Last week at the Michelin announcement in Bridgewater, I mentioned that in 2004, the province signed an agreement with Michelin to consider contributing a percentage to new investment in Michelin's Nova Scotia operations.

Let's be clear on this. The agreement is not a standing offer. The agreement is not a guarantee. The agreement is a framework that outlines standard terms and conditions that would apply to future potential projects. The agreement permits Michelin and the province to negotiate individual projects. It suggests a target range for a provincial contribution of 12 to 14 per cent. However, this contribution is not guaranteed.

In the three years since signing the agreement, the province and Michelin have announced investments in four expansion projects in Nova Scotia. Each project was evaluated on its own merits and each met the standards as outlined in the agreement. An agreement that, to date, has helped secure $209 million in new investment.

Michelin in Nova Scotia competes with other Michelin plants around the world for investment in order to remain competitive globally. That's a tough business climate. The company invests many millions of dollars here in Nova Scotia and this agreement helps Michelin secure that capital investment for Nova Scotia.

It's an agreement that makes sense. By agreeing in advance to certain conditions, Michelin and the province can focus on what really matters. For Michelin, that means securing new investment for their three Nova Scotia plants so they stay competitive. For the province, it means ensuring continued employment for thousands of Nova Scotians and the creation of new jobs every time Michelin expands operations.

It's an agreement that lets us get on with the business of doing business in Nova Scotia.

In a world where companies must be accountable to their shareholders, so must the province be accountable to Nova Scotian taxpayers.

There is no doubt in my mind that continued support for Michelin is in the best economic interests of this province. If you don't believe me, just ask the 3,500 Nova Scotians working at Michelin.