ANNUAL REPORT 2016-17 ANNUAL REPORT 2016-17 VISIT HALIFAXPARTNERSHIP.COM 1 ECONOMIC BOOSTERS IN 2016, HALIFAX’S POPULATION GREW BY (THE LARGEST GROWTH IN OVER 15 YEARS) HALIFAX’S UNEMPLOYMENT RATE DECREASED FROM 6.3% IN 2015 TO POPULATION GROWTH WAS DRIVEN BY IMMIGRATION. HALIFAX’S NET MIGRATION WAS COMPARED TO NATURAL GROWTH OF JUST UNDER 1,200 PEOPLE. IN 2016, NET INTERPROVINCIAL MIGRATION OF YOUTH AGED 20-29 IMPROVED. IMMIGRANTS WERE WELCOMED BY HALIFAX IN 2016. MORE YOUTH STAYED IN NOVA SCOTIA. 2 ANNUAL REPORT 2016-17 ANNUAL REPORT 2016-17 TABLE OF CONTENTS Message from the President & CEO 4 Message from the Mayor 4 Message from the Board Chair 5 This is Halifax 6 A New Era of Innovation in Halifax 8 2016-17 Business Plan Results 10 Promote and Maximize Growth 11 Attract and Retain Talent 14 Make Halifax a Better Place to Live and Work 16 Align Economic Development 17 Promoting Halifax 18 Performance Framework Results 19 Financial Overview 20 Our Board of Directors 21 Our Investors 22 Photography and design by CLOTHESLINEMEDIA.CA VISIT HALIFAXPARTNERSHIP.COM 3 MESSAGES Message from the Message from the Mayor President & CEO Today, Halifax looks and feels different than it did even five years ago. We are keeping and attracting more This has been a great year for Halifax and the Halifax young people, newcomers from across the country and Partnership. around the world are choosing to put down roots here, In our five-year Economic Growth Plan, launched in and companies of all sizes are investing in our growing 2016, we set very aggressive and ambitious targets economy. pointing toward a vision to grow Halifax’s population to 550,000 and GDP to $30 billion over 15 years. The good news is that we remain among the top cities in Canada “Today, we stand on the shoulders for economic growth; last year was a record year for of our past, proud of what we have population growth. So, we are off to a good start on our accomplished together and charting journey. a course for a bright future.” Talent recruitment and retention are top issues for many of our growing sectors. We need more people to work and live here, and we need to use our greatest strengths as an We are seizing opportunities as vast and as deep as the innovative and smart city to rethink how we source talent Atlantic that laps our shores, with major investments to sustain businesses and our community. In 2016, things in the Dalhousie-led Ocean Frontier Institute and the started to roll. Initiatives such as the Atlantic Immigration Centre for Ocean Ventures and Entrepreneurship (COVE). Pilot, a new streamlined federal program that helps Everywhere one looks, major private sector construction businesses in Nova Scotia recruit an additional 800 people projects are moving from blueprint to building. internationally to fill specific roles, is one fresh response to Our new Economic Growth Plan has set us on a path our talent shortage. to grow our GDP to $30 billion, and our population to Companies around the world are amazed by our 550,000 by 2031. Since our adoption of that plan less than innovative environment, educated workforce and global a year ago, we have already climbed to 426,000 people, student population. Our job is to lead the charge to make growing faster than the national average. Halifax the most inclusive, international, opportunistic This year we will come together to mark 100 years since place for business to grow. the Halifax Explosion, an unprecedented disaster that What we need to do is “put the pedal to the metal” and could have brought an end to our city. The rebuilding accelerate. From a global lens, we are seen as a vibrant, of Halifax in the face of such tragedy demonstrates thriving community – world leading innovative companies the strength of purpose and resilience that has are emerging, growing and prospering around us. Halifax always characterized our people. Today, we stand on and the Halifax Partnership are in a wonderful position to the shoulders of our past, proud of what we have collaborate with partners like NSBI, ACOA, Innovacorp, accomplished together and charting a course for a bright the Halifax Chamber of Commerce, Discover Halifax and future. others to tell our story to the world, to convince global Let’s look back with pride on 2016, continue to be open to companies to do business and invest in Halifax and to new possibilities and recommit ourselves to the hard work work with local companies to realize their full potential. of bringing them to fruition. I look forward to working with The future has never been brighter for Halifax. Our my Council colleagues, with the Halifax Partnership and TLC (Talent, Location, Cost) makes us the “best deal in our many community and business organizations as we Canada”. continue to build Halifax Regional Municipality as a great place to live, work and invest. Let’s all work together to dare to be positive and spread the word. Mayor Mike Savage Ron Hanlon, President & CEO 4 ANNUAL REPORT 2016-17 Accelerate: to cause faster or greater activity, development, progress, advancement. Message from the Board Chair Fostering new and better ways to create value is key to It is incredibly exciting right now to see a certain our city’s growth, shared prosperity and outstanding porousness has opened up between institutions and quality of place. organizations. Companies, governments, entrepreneurs, universities, philanthropists and community groups are Built on a partnership among private investors, demonstrating a willingness to work together in new governments, and the community, the Halifax Partnership ways. This alignment of activity in the service of common has a unique ability to help strengthen innovation purpose is absolutely vital to our success as a city. and entrepreneurial ecosystems that will spur rich collaborations, connections and accelerated pathways to pursue excellence on a global scale. “Halifax is the ideal home for those Halifax has an incredible value proposition: it is one of with an ambition to tackle the Canada’s top cities for advanced education. We are one world’s greatest challenges and of the world’s leading centres for ocean science and enterprise, and we enjoy an incredible quality of life, opportunities.” built on a unique urban-rural blend. Halifax is far more affordable both for families and for businesses than One can’t pay too much attention to rankings; however, many other cities in North America. And we’re gaining a we’ve seen Halifax ranked the Canadian city with the most strong reputation as a hub for creativity, innovation and up-and-coming IT start-ups in 2015, and ranked the fourth entrepreneurship. best tech hub in Canada in 2016 (based both upon our I see the next year as an opportunity to build momentum innovation and entrepreneurship assets and our quality of and critical mass. We have an opportunity to be one of life). The needle is moving. the most attractive cities in North America for creative At the Partnership, we describe our attitude toward people and dynamic companies – whether they are born Halifax’s growth goals as a positive sense of urgency: here, or choose to come here. From our schools to our there is great opportunity, but it won’t be realized coffee shops, our performance venues to our boardrooms, without concerted effort to try new and better ways Halifax is the ideal home for those with an ambition to of doing things. This outlook is anchored by the strong tackle the world’s greatest challenges and opportunities. management team, led by our outstanding president There is already a world-class innovation district emerging and CEO Ron Hanlon. organically. It is anchored by exciting undertakings Indeed, we are fortunate in this moment to have excellent like the new COVE, the beautiful Waterfront campus leadership in a number of key places in Halifax. Let’s make of the NSCC, the incredible new Discovery Centre, the the most of the opportunity by ensuring they have as success of entrepreneurs at Volta Labs, one of the most much success as possible. It will take all of us a long way. architecturally significant public libraries in the world, the Matt Hebb, Board Chair soon-to-be-completed Emera ideaHUB on Dalhousie’s downtown campus, the life-saving clinical research of the IWK and QEII, and the cutting edge companies at Innovacorp’s Life Sciences Research Institute. “We have an opportunity to be one of the most attractive cities in North America for creative people and dynamic companies.” VISIT HALIFAXPARTNERSHIP.COM 5 Halifax is transforming. We are proud of our long and storied history and are embracing our vibrant future without forgetting where we came from. Queen’s Marque, a $200 million Provincial Emera plans for New Atlantic investment on the and federal $2 billion Atlantic Immigration Halifax waterfront, governments Link, a subsea NTT Data, Jazz Pilot allows Nova will be a mixed announce $19.7 transmission Aviation LP and Scotia to bring in used space with million in funding to bring clean Citco (Canada) Inc. 800 additional hotel, residential, to convert former energy from among Canada’s foreign workers office and retail Coast Guard base Atlantic Canada to Top 100 Employers and international space. into the COVE. Massachusetts. for Young People. graduates. THIS IS HALIFAX Mobivity to create Bluedrop awarded Since 2013, Volta’s Port cargo Irving Shipbuilding 40 technical $15 million contract 39 resident start increased from invests $4.5 million development, to design naval ups and alumni 7,569,286 metric in the COVE. data analysis, simulation software.