2016-17 Annual Report Available

Nova Scotia Business Inc. (NSBI) released its 15th annual report today, July 27, covering the fiscal period from April 1, 2016, to March 31, 2017.

“NSBI works with companies helping them become successful exporters, and we attract sustainable investment into our province,” said Laurel Broten, NSBI president and CEO. “When businesses succeed in Nova Scotia, we know that we all win.

“Together with our clients, this past year has brought successes, learning experiences, new challenges, and we are committed to building on strengths and doing the work that needs to be done.”

The 2016-17 annual report measures goals against NSBI’s 2016-17 business plan and includes financial statements audited by an independent third party in accordance with Canadian auditing standards.

Looking back, 2016-2017:
— 26 NSBI clients became new exporters in 2016-17. Fourteen of these were from the oceans, information communications technology (ICT), and seafood and agri-food sectors
— client-reported export sales saw a 30.5 per cent increase across all sectors, and in the high-potential clusters of oceans, ICT, and seafood and agri-food, this number jumped to 40.1 per cent
— NSBI’s focus on attracting innovative, globally competitive, exporting companies to locate in Nova Scotia, resulted in 15 foreign direct investment (FDI) transactions. Rural representation of FDI transactions, outside of Halifax, increased by 25 per cent in 2016-17
— there was a 36.6 per cent decrease in capital investment among NSBI clients. A new tool to address capital investment is planned for 2017-2018
— there was an increase in activity in the Nova Scotia Film and Television Production Incentive Fund with 37 approved productions, 22 more than the previous year.

For more information on NSBI corporate reports, including NSBI’s 2016-2017 Annual Report and the 2016-2017 write-off listings, visit: www.novascotiabusiness.com/corporatereportsandplans

Source: Release