A group of Nova Scotians representing a blend of new ideas and business experience has been asked to lead the board of directors for the province’s new economic development fund.
Economic and Rural Development and Tourism Minister Michel Samson shared more information about the nine people nominated to oversee Invest Nova Scotia, today, Oct. 30.
“We were very deliberate in our selections, and this is a very different kind of board that will do economic development in new and different ways,” said Mr. Samson. “Not only do we want these individuals to represent Nova Scotians from all areas and walks of life, we’re also looking for a mix of experience and fresh perspectives that traditionally have not had a place at the table.
“This is a significant step in the government’s commitment to take a new direction for economic development that allows the private sector and community leaders to grow the economy,” said Mr. Samson.
One of the proposed board members is Colette O’Hara, business owner and co-founder of Halifax’s Awesome Foundation, which provides funding to make awesome ideas happen.
“The best solutions come from when you have a variety of opinions and perspectives,” said Ms. O’Hara. “Rethinking the way we do things feels really positive and I’m excited to challenge what is presented to us and define solutions that will lead to different results than we’ve had in the past.”
Tom Traves is proposed chair of the inaugural board and recently authored a review of government’s economic development assistance tools.
“From our review, we know that most jurisdictions use incentives to help attract businesses and encourage expansion,” said Mr. Traves. “I’m pleased that this board will have the opportunity to shape the way we make these important decisions so that Nova Scotia’s money will be invested effectively and efficiently, and for the benefit of long-term objectives.”
The board will independently support projects that advance the economy and have broad-based benefits. Transactions will be posted to the accountability website, and reported in an annual report to Nova Scotians.
Regulations will be developed over the coming months to provide more details about the fund.
Board appointments will not become final until they are passed at the Standing Committee on Human Resources and receive Governor in Council approval.
More information on Invest Nova Scotia and its board members can be found at www.novascotia.ca/econ/ins .