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Population, workforce, and economic growth are converging

Source: https://www.saltwire.com/nova-scotia/more/custom-content/population-workforce-and-economic-growth-are-converging-100709784/

“The growth we’re seeing is good,” says Laurel Broten, president and CEO of NSBI. “It leads to more investment and innovation, increases in local spending, and a stronger tax base.” PHOTO CREDIT: Contributed
“The growth we’re seeing is good,” says Laurel Broten, president and CEO of NSBI. “It leads to more investment and innovation, increases in local spending, and a stronger tax base.” PHOTO CREDIT: Contributed

On Dec. 16, 2021, rain was falling instead of snow, but attention was on something else. Nova Scotia was celebrating its rising population – surpassing one million people.

Nova Scotia has a decade-long strategic priority on growing its population, including attracting skilled newcomers. In 2014, the Nova Scotia Commission on Building Our New Economy’s report highlighted population growth as a major factor to build the economy. Growth is necessary to ensure businesses in the province can find the right candidates and the economy can continue to strengthen. 

In the years since, inter-provincial migration has increased steadily along with unprecedented numbers of international newcomers. The net growth has been 55,530 new residents between July 2015 and July 2021.

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