2019-20 Annual Report

REIMAGINE 19–20 HALIFAX REIMAGINE 19–20 HALIFAX Halifax’s residents and businesses are resilient. This has never been clearer than in the face of the worldwide pandemic, COVID-19. The economic impacts have been severe, but our collective actions to minimize the spread of the virus have put Halifax in a fortunate position compared to many cities around the world. We have a unique opportunity to reimagine Halifax – how we work together, how we do business, how we support local, and how we support each other. It’s time to look forward to see how we can not only get back to normal, but to a better, stronger city. MESSAGE FROM MAYOR MIKE SAVAGE 4 MESSAGE FROM RON L’ESPERANCE, BOARD CHAIR 5 MESSAGE FROM WENDY LUTHER, PRESIDENT & CEO 6 FROM ECONOMIC GROWTH TO ECONOMIC RECOVERY 8 2019–20 RESULTS 9 PROMOTE AND MAXIMIZE GROWTH 10 ATTRACT AND RETAIN TALENT 14 ALIGN ECONOMIC DEVELOPMENT 16 PURSUE AN ORGANIZATIONAL CULTURE OF EXCELLENCE 18 LOOKING FORWARD: REIMAGINING HALIFAX 20 FINANCIAL OVERVIEW 24 OUR BOARD OF DIRECTORS 26 OUR INVESTORS 27 2 REIMAGINE HALIFAX DESIGN BY HALIFAX PARTNERSHIP: ANNUAL REPORT 2019–20 3 MESSAGE FROM MESSAGE FROM MAYOR RON L’ESPERANCE MIKE SAVAGE BOARD CHAIR LAST YEAR, I WAS HONOURED TO ASSUME THE ROLE OF BOARD CHAIR FROM IN THIS CITY, WE KNOW HOW TO ADJUST TO A CHANGING TIDE. MY ESTEEMED COLLEAGUE MATT HEBB, FORMER CHAIR OF THE HALIFAX PARTNERSHIP. When I asked Halifax Partnership if they would take on I hope that as we do, we also carry with us a few I transitioned into this role at the same time our animate and support restarting our economy. In the Halifax COVID-19 recovery challenge, I knew they lessons from these difficult days and months. Tough new President & CEO, Wendy Luther, joined the June, we moved out of the crisis response phase of were up for the task. They have an experienced team, times have a way of forcing us to dig deep, to reflect organization, and have had the pleasure of working the plan into the recovery phase. It is heartening to a dedicated group of Investors behind them, and a city meaningfully, and to rise to the occasion. They make closely with her, our Board, and the talented Halifax see so many businesses reopening and resuming that would play to its strengths through tough times. us question our values and value our questions: What Partnership team through a period of both strong operations, both in person and virtually where matters most to us? What can we do better? What are economic growth and unexpected challenges due to necessary, while continuing to follow public health our strengths as a community? the COVID-19 pandemic. directives that are keeping the spread of the virus in We went into this crisis with strong performance check and our residents and businesses safe. indicators, including record population growth, a boom Halifax’s Economic Growth Plan for 2016–21 set in construction, year-over-year gains in tourism, and So, let’s commit to working as hard as we can to out an ambitious long-term vision for Halifax – Most importantly, we cannot continue to do this big ambitions for our Port. We had attracted and kept safely return to the life we knew. And, while we’re at population growth to 550,000 and a $30 billion GDP work without the support of Team Halifax – our more young people than at any time in our history, and it, let’s also commit to ensuring more people from by 2031. By March 2020, we were on target to reach Investor community. We depend on the collective we were seeing new companies choose Halifax like more diverse communities and backgrounds have our population goal, and tracking very well with efforts of our Investors who believe in and support never before. This has been a bruising time, and it’s not greater opportunities to be a welcome and vital part respect to GDP. Halifax Partnership’s mission. There has never over, but Halifax will demonstrate its resilience. of Halifax’s success. We were one of the strongest city been a more important time for an economic economies in Canada when COVID-19 hit, and we will Like other organizations, the pandemic changed development organization like ours to work with our be again as we recover. We will again welcome newcomers and tourists from everything – not just our progress, but, in some private sector partners and community leaders to around the world. We will still be a centre for research cases, a rethinking of the way forward and what we guide and support Halifax’s economic recovery. and innovation. Continue to be a centre of shipbuilding Congratulations to Halifax Partnership on another should be progressing toward. As a result, Halifax excellence. Regain the successes of our Port and our successful year, and although it ended on a difficult Partnership, with Halifax Regional Municipality and I thank our Board of Directors who continue to international airport. Support startups and entrepreneurs. note, I look forward to working together to bring our partners and Investors, seamlessly pivoted to provide strategic guidance as Halifax Partnership Halifax back to the thriving city I know it will become develop a new plan of action to respond to, and implements Halifax’s Economic Response and once again. address, Halifax’s new and evolving needs. Recovery Plan. On behalf of the Board of Directors I thank our Investors for their ongoing commitment The Economic Growth Plan work transitioned into to the Partnership and I especially thank Wendy Halifax’s Economic Response and Recovery Plan, a and her team for their excellent work last year and plan which considers inclusive growth and the need through the pandemic response. I look forward to for innovation, including social innovation, in how seeing, and being a part of, what Halifax Partnership best to respond to the unprecedented situation in will accomplish in 2020–21. which, collectively, we find ourselves. This strategic shift has aligned the work of the Partnership, HRM, and partners across the city to 4 REIMAGINE HALIFAX HALIFAX PARTNERSHIP: ANNUAL REPORT 2019–20 5 MESSAGE FROM WENDY LUTHER PRESIDENT & CEO I’M PLEASED TO PRESENT HALIFAX PARTNERSHIP’S ANNUAL REPORT FOR 2019–20, WHICH ALSO MARKS THE END OF MY FIRST YEAR AS PRESIDENT & CEO. Joining the Halifax Partnership team and leading through Of course as we celebrate the success both Halifax this unprecedented time has been exciting and challenging. Partnership and Halifax achieved and experienced in I am honoured to share with you the progress we made, 2019–20, we can’t ignore that the last few weeks of the together with our partners, to grow our city and economy. fiscal year began a new reality that is continuing to affect us now and into the foreseeable future. Looking back on the 2019–20 year truly feels like a different time for Halifax. Before our team transitioned The silver lining, however, is that we have seen countless operations to our home offices, before we learned how businesses pivot and adapt, either by retooling their to host all of our meetings and discussions online, and services to adjust to the new environment or by offering before we knew anything about COVID-19 and how it their support to COVID-19 efforts. would close our borders and impact our businesses, Halifax experienced a banner year for economic growth. Halifax Partnership and Halifax Regional Municipality Halifax Partnership had a successful year helping our have pivoted too. 2020–21 was expected to be the last businesses thrive and our young talent connect to year of implementation of Halifax’s five-year Economic opportunities in our city. You’ll see throughout this report Growth Plan with development of the next five-year plan that our team achieved or exceeded the vast majority well underway. In late March we switched our efforts of our targets, despite the last few weeks of the year to developing Halifax’s COVID-19 Economic Response marking the beginning of COVID-19’s significant effects. and Recovery Plan. Approved by Regional Council in early May, this plan now serves as the framework for our Last year was a tremendous year for Halifax with record collective actions for Halifax’s economic recovery. It is the population and labour force growth, as well as the best mechanism that will enable Halifax to get back to our GDP growth in a decade. Halifax Partnership’s Connector long-term growth trend and chart a path forward for a and Atlantic Immigration Pilot Programs worked to stronger, more resilient city. connect businesses to new residents and recent graduates looking to find their place in Halifax’s workforce. Our work, I’ve been inspired everyday over the past year by our in close collaboration with Halifax Regional Municipality, Halifax Partnership team, Board members, Investors, to support the African Nova Scotian Community’s Road and partners – especially through these challenging to Economic Prosperity Action Plan sets the framework COVID-19 months – by their unwavering collaboration for economic development and growth based on ANS and passion for our city. community priorities. Our Investment Attraction and SmartBusiness teams supported businesses as they We expect we’ll continue to see the impacts of COVID-19 moved or expanded their operations to our city and for the short- to medium-term, but Halifax Partnership connected them to the resources they needed to grow is committed to ensuring nothing less than a vibrant and through export, commercialization, or hiring top talent. successful Halifax. In fact, our banner year leading up to the Halifax’s Innovation District also made significant strides.

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