Nova Scotia Canada Tops in North America for Foreign Direct Investment

HALIFAX, July 23, 2013 /PRNewswire/ - Nova Scotia, Canada has been recognized internationally for its work in attracting foreign direct investment (FDI).

"Nova Scotia was the best-performing region in North America in attracting inward investment in 2012 with Nova Scotia attracting more FDI projects per capita than any other state or province. Furthermore, three of the four largest job-creating FDI projects in Canada went to Nova Scotia in 2012 with major investments by IBM, Admiral Insurance, and Stream," said Dr. Henry Loewendahl, VP North America, representing fDi Intelligence, Financial Times Ltd.

Nova Scotia has also seen significant growth in its key sectors. In 2012, KPMG recognized Halifax, Nova Scotia as the fastest-growing hedge fund administration centre in Canada and over the last five years, Nova Scotia's ICT sector has seen more growth than any other province in Canada.

Nova Scotia Business Inc., the province's business development agency, works to attract international companies to Nova Scotia.

"This is a testament to the work of my team at NSBI and our many partners.  Our sector driven, pro-active approach, combined with a solid value proposition, has led to the success we are seeing today," said Stephen Lund, President and CEO of Nova Scotia Business Inc.  "Nova Scotia is a competitive jurisdiction that has attracted some of the world's largest companies in every key sector and offers a solution for companies looking to expand their global footprint."

IBM and UK based Frontier Developments chose Nova Scotia to expand their global footprints.

"After being approached by NSBI and learning about the benefits of Nova Scotia, we successfully opened our first North American office in 2012," said David Walsh, COO, Frontier Developments. "Nova Scotia is a strategic location for major markets and offers a highly competitive value proposition, great quality of life, talented labour and academic institutions that are keen to partner with business.  It is the perfect fit."

"We felt the open, collaborative business environment in Nova Scotia was a region in which we could find success, so we established our newest global services centre here," said Dave McCann, Associate Partner, Global Business Services, IBM Canada. "Nova Scotia's flourishing IT community, great quality of life, major academic institutions and rich diversity make it a great place to establish business."

Nova Scotia, Canada's university capital, is home to 10 universities and a thriving community college with 13 campuses. Talented graduates from these award-winning institutions are succeeding with international companies in Nova Scotia. With Nova Scotia's increased emphasis on partnerships between educational institutions and industry, graduates are receiving the specialized skills required by these companies.

About Nova Scotia Business Inc.
Nova Scotia Business Inc. is the province's private-sector-led business development agency. Through trade development, investment attraction, business financing and venture capital, NSBI assists local companies and attracts international companies to Nova Scotia. For more information, visit www.nsbi.ca and follow online at www.nsbi.ca/connect

SOURCE Nova Scotia Business Inc.