July 19, 2024
Halifax: Capital of Nova Scotia and Economic Hub of the Atlantic Bubble
Posted: October 21, 2020Atlantic Canada has gained much attention since the COVID-19 pandemic began. With staggeringly low cases compared to the rest of the Canada and the world, the newly formed “Atlantic bubble” has become a safe haven for people and businesses alike.
Consisting of Nova Scotia, New Brunswick, Newfoundland and Labrador, and Prince Edward Island, each Atlantic province has its own one-of-a-kind lifestyle and culture. However, it is Halifax, the capital of Nova Scotia, that stands out as the economic center of the Atlantic Region.
An Unmatched Workforce
Halifax is home to eight post-secondary institutions, and 70% of the city’s workforce holds a post-secondary degree or certificate. Nova Scotia also has the highest number of graduates in engineering, applied science, mathematics, and physical science per capita than anywhere else in Canada.
Halifax workers aren’t just well educated – they are also extremely loyal. The turnover rate in Halifax’s tech sector is just 8.6% compared to the U.S. average of 33.1%. Even more astonishing, the IBM Client Innovation Centre in Halifax has reported the highest staff retention rate of any IBM location on a quarterly basis since the location opened.
The Future Lives Here
The capital city of Nova Scotia is quickly rising as a place that embraces and fosters innovation. Halifax was selected as the first and only Canadian jurisdiction for MIT’s prestigious Regional Entrepreneurship Acceleration Program (REAP) and as such, is fast becoming one of Canada’s most exciting technology and innovation hubs.
Located in the heart of the city, Halifax's Innovation District is a striking combination of drive and discovery, technology and talent, curiosity and culture – all working together to fuel growth. The district is home to a concentration of innovation hubs, major universities and colleges, large firms, SMEs, startups and scaleups, entrepreneurs, major hospitals and R&D labs, and all levels of government.
More about Halifax’s Innovation District
An Offer Too Good to Refuse
Halifax offers several incentives that make moving here easier than ever before, and ensure businesses in any sector thrive. Halifax ranks Top 10 of the 50 largest cities in Canada and the U.S. for cost competitiveness across our five key sectors.
If anything is certain in these unprecedented times it’s that, after years of strong growth and impressive resilience during the pandemic, Halifax is becoming an increasingly ideal place to do business and live.