Province Dedicated to Business Growth, Op-Ed

NOTE: The following is an op-ed from Percy Paris, Minister of Economic and Rural Development and Tourism.

Government is dedicated to creating high-value jobs and growing the economy throughout the province. This involves working with businesses of all sizes.

To say that the province's financial commitment to support the sale of the Port Hawkesbury mill to Pacific West is only about big business is short sighted. According to community and business leaders, this mill will be investing more than $160 million annually into the local and provincial economy.

Pacific West will spend millions on payroll in the Strait region, and millions more purchasing goods, supplies and services around the province. This investment helps create and sustain 1,400 jobs -- jobs that allow families to buy goods and services from small and medium-sized businesses across the province. In addition, more than $11 million annually is generated in tax revenue, money which goes to build hospitals, schools, roads in every part of Nova Scotia.

This investment in workers, their families, and the forestry industry is about getting people back to work so they can provide their children and loved-ones. It is about the businesses of all sizes that depend on the income generated from the men and women who work at the mill. It is about the employees of many small businesses that supply the mill. It is about keeping the local and provincial economy going.

We have to look at the big picture and we have to look at prosperity in the long term. The Port Hawkesbury mill is critical to small businesses and families right across the province.

In addition to providing support to large companies, when it makes good economic sense for the people of Nova Scotia, government realizes how important it is to work directly with small businesses for the benefit of the province's prosperity.

For the third year in a row, this government has reduced the small business corporate income tax rate. These tax cuts are the first of their kind in more than 20 years. By reducing this tax from five percent to three-and-a-half percent, we are saving small businesses millions of dollars each year.

Through jobsHere, our plan to grow the economy, we are helping hundreds of Nova Scotia businesses to become more productive, innovative and globally competitive. The results of these investments are substantial.

The province is investing $25 million each year in the Productivity and Innovation Program to help hundreds of Nova Scotia businesses invest in equipment to become more productive, or in training for employees. So far, 20,000 more people in 353 businesses have additional workplace training or have been supported in career development, and 224 businesses have received productivity improvements through capital investments. In both cases, the vast majority of these businesses are small businesses.

The province has invested $10 million to expand and improve the Credit Union Loan Guarantee Program, which supports so many of our start-up businesses. Now, more small businesses, new immigrants and social enterprises have greater access to capital, which we all know is the life-blood of any small business.

The province has increased the funding for the Business Development Program to a total of $540,000, which encourages the creation and expansion of small businesses.

The Productivity and Innovation Voucher Program has been expanded to include an accelerated program to help previous recipients access $25,000 in expertise at universities and colleges to further increase their productivity and innovation. The vouchers help small businesses explore new opportunities, improve existing products, and refine their operations.

These are just some of the ways government is helping businesses of all sizes. Knowing that the owners of small businesses often have to do the job of many individuals, we've also made it easier for them to understand what programs are available to them through business.novascotia.ca.