2014 Halifax Index Presentation
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2014 Halifax Index Presentation
- 3. WHAT IS THE HALIFAX INDEX? âąThe Halifax Index measures Halifaxâs progress toward broad economic development âąIt benchmarks Halifaxâs progress against five Canadian cities h
- 4. Components of Economic Development Economic Developmen t People Sustainability Quality of Place Economy h
- 5. PEOPLE
- 6. A MODEST YEAR FOR POPULATION GROWTH h
- 7. NET INTERPROVINCIAL OUTMIGRATION FROM HALIFAX -2500 -2000 -1500 -1000 -500 0 500 1000 1500 40 and over Under 40 h
- 8. SOFT YOUTH LABOUR MARKET h
- 9. NET MIGRATION FROM REST OF NS -500 0 500 1000 1500 2000 2500 3000 3500 4000 To Halifax To Other Provinces h
- 10. Trend in Halifax University and NSCC enrollment h 4,629 29,610 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 NSCC Universities
- 13. STEADY IMPROVEMENT IN WORKPLACE SAFETY h
- 14. ECONOMY
- 15. ROBUST ECONOMIC GROWTH IN 201 h
- 17. ANOTHER STRONG YEAR FOR THE HALIFAX GATEWAY h
- 18. HOUSING MARKET SHIFT TO APARTMENTS h
- 19. QUALITY OF PLACE
- 20. BIG REDUCTION IN CRIME h
- 21. BIGGER REDUCTION IN VIOLENT CRIME h
- 22. STRONG INCOME GROWTH OUTPACED LIVING COSTS... h
- 23. STRONG GROWTH IN THE ARTS AND CULTURE SECTOR h
- 24. SUSTAINABILITY
- 25. HIGHEST USE OF PUBLIC TRANSIT h
- 26. DENSITY REDUCES DEPENDENCE ON CARS âąUse of public transit to get to work is much higher in the Regional Centre âąRegional Centre residents are also more likely to walk or cycle to work h
- 27. APARTMENT STARTS FAVOUR REGIONA CENTRE h
- 28. MUNICIPAL FINANCES IN GREAT SHAPE âąHalifaxâs credit rating remains at AA- with a stable outlook, indicating confidence in the cityâs long-term fiscal health h
- 29. Big Take-Aways âą We are getting old too fast âą We donât treat our future workforce well âą We can turn this around. âą The economy is growing, but the drivers are changing. âą We get great marks on our quality of place, sustainability and city finances. âą We are cautiously positive about our future. h
- 30. Whatâs Next âą Economic growth will jump significantly this year and next. âą Weâve got some things to work onâŠ. âą Retain more people. âą Attitudes need to shift âą Change could begin here. h
Hinweis der Redaktion
- Population growth is as important to a city as blood flow is to a person. If your population is not growing youâre probably on life support
- Halifax grew at below half the normal pace last yearâŠ.the slowest rate among our benchmark cities. So why are we glowing slower? The bottom line is that we are seeing too many of our peopleâŠ.mainly our young people moving to other provinces. Even St. Johnâs which has one of the hottest economies of any city in Canada canât hold itâs young people. Population growth is driven by immigrants and migrants from elsewhere in Nova Scotia in about equal measure. More immigrants are stayingâŠin Halifax although we still have a way to go to catch up with most of our benchmark cities. Only St. Johns has a lower retention rate. Immigrants stay for the same reason new grads stayâŠopportunity.
- Reasons for youth outmigration are pretty simpleâŠhigh youth unemployment rates. The unemployment rate for people under 25âŠmost new graduatesâŠ.is more than 3 times the unemployment rate for those over 25. Clearly if people are not finding that important first jobâŠ.they hang around for a while and then take off.
- 63% or 2/3rds of Nova Scotiaâs post secondary students are in Halifax. University enrolments grew at twice the national pace in 2011
- Particularly international students. These have been increasing dramatically over the past number of yearsâŠmore than doubling since 2008. However we retain very few of them. However surveys tell us that many want to stayâŠIndeed many stay in CanadaâŠjust not here.
- HoweverâŠitâs not all bad. Employment growth in Halifax is more than double the population growth the best performance among eastern Canadian benchmark cities.
- On another positive note, we are seeing a steady improvement in workplace safety in Nova Scotia. Improvements in workplace safety contribute directly to improvements in productivity both at the firm level and for all of Nova Scotia. Improvements in workplace safety may be our best and easiest path to productivity gains. Weâve been able to include these numbers in the Halifax Index for the first time thanks to the cooperation of the Workers Compensation Board of Nova Scotia.
- Halifaxâs economy toped 18 billion last year. More than half of the GDP of Nova Scotia. We did well compared to most of our benchmark cities. We didnât compete with Canadaâs boom cities, which are all in the west with the steady exception of St. Johnâs. Growth in GDP is expected to pick up this year and next.
- We survey business confidence twice a year using our friends at CRA. This spring weâve noticed a significant drop. Most distressing is the fact that young business are loosing faith in the economy quite rapidly. They were once the strength of the survey. Clearly our newest business leaders are most susceptible to the ups and downs of attitudes about the economy. They were over the moon when the Shipyard announce. NowâŠjust two years later they are less certain about the future. The index indicates that business are optimistic just not as optimistic as they used to be. I canât think of a better demonstration of the impacts of attitudes on an economy.
- The Halifax gatewayâŠ.is holding its own. A good year for air travel and air cargo. Container movements were up last yearâŠprobably an indication of recovering North American and European economies
- We are seeing a big shift in the housing supplyâŠ.from single family units to apartments. This makes a lot a sense given the shift in demand as the population ages, and a higher proportion of students are international or from other provinces.
- When people think about quality of place and quality of life, personal safety tops the list of considerations. Things go dramatically better last year in Halifax with a 13% fall in the crime severity index. Halifax has fallen from the top of the list to the middle of the pack in crime âŠnot bad in one year.
- Violent crime was down by more than 20% one of the biggest drops in the country. While demographics are having a impact on crime everywhere, improved policing approaches in Halifax account for most of the improvement.
- Not only is employment up in HalifaxâŠso is average income. Indeed the average income in Halifax jumped by more than 3% which provide impressive gains in real incomeâŠabout time. This is particularly impressive give the ratcheting down of federal employment which is now at itâs lowest level since before the second world war⊠Thatâs 65 years for those of you that are paying close attention.
- With a gain of 700 jobs last yearâŠthe arts and culture sector is approaching the 10000 person mark. Only Quebec City, among our benchmark cities employs more people in the arts. Better still, the growth in wages has been more than double the average for all occupations.
- Halifax achieves top marks on sustainability. We use public transit more than any benchmark city and only residents in Victoria walk to work more. Having no hills and being the size of postage stamp compared with Halifax probably helps their numbers.
- NEED TO FIX CHART FOR PRESENTATION
- Halifaxâs housing market responds pretty crisply to demandâŠ.and right now the demand is for apartments in the regional century⊠Over a three year stretch, apartment starts in the regional center are more than 4 and a half times the level in suburban areas. The next censusâŠif we have oneâŠ.should show a big jump in regional centre population. This is consistent with the dumb-bell effect of more demand by young professionals and university students and more baby boomers down-sizing.