• 1 800 260 6682
  • GTranslate

Other ways to reach us: 1.800.260.6682 | 902.424.8670 | info@investnovascotia.ca

An aerial photo of downtown Halifax, Nova Scotia, facing west
  • Nova Scotia, Canada may have more in common with global financial centres than you think

Nova Scotia, Canada may have more in common with global financial centres than you think

Thursday, April 25, 2024

By Stephen Hilchey

Companies visiting our East Coast province for the first time often tell me Nova Scotia might be Canada’s best kept secret. I wholeheartedly agree.

While we might be famous for our seafood, picturesque lighthouses, and friendly people, we are also a centre for global finance, insurance, and tech.

The provincial capital, Halifax, has been gaining momentum for several years, but since the pandemic, it has become one of Canada’s brightest stars. The second fastest-growing city in Canada in 2022, one of the most notable achievements is Halifax’s emergence as a financial services centre, a trend that’s been developing for almost two decades.

Companies from across Canada, the United Kingdom, the United States, and the Caribbean are increasingly choosing Nova Scotia to locate business and technology operations, drawn by a unique value proposition that is hard to find elsewhere in North America.

Let’s dive into how we stack up.

From Back-Office to Innovation Hub Initially known for back-office operations, Halifax has evolved into a centre that embraces new industry operations.

From capital markets, financial crime and anti-money laundering to cybersecurity, fintech, AI, fund administration, software development, and data analytics, Nova Scotia has a surge of skilled workers ready to take on new technology.

The presence of major companies including Citco, MUFG, RBC's Innovation Hub, Manulife, Marsh, Opus Fund Services, and Admiral Insurance, alongside technology leaders like Cognizant, Virtusa, Avanade, FreshBooks, Global Relay, and IBM, shows we have the right business climate for global operations to succeed.

Education and Talent, A Powerful Duo They call us Canada’s university capital, and for good reason. Nearly 70% of Halifax’s population holds post-secondary education, making the city a hotbed for talent in finance, technology, and related fields. This intellectual capital is a magnet for businesses seeking a pipeline of a skilled and innovative workforce.

The True Cost When operational costs can be a deciding factor, Halifax stands out as one of the most cost competitive locations relative to other Canadian, US, and Western European cities. These cost advantages provide a compelling argument for companies looking to maximize their investment and operational efficiency while benefitting from a North American time zone.

Bloomberg.com Recommends It What sets Nova Scotia apart is not just its economic potential but also its lifestyle. It offers access to nature, shorter commutes, and a well-balanced routine increasingly appealing in today's fast-paced world. It is a place where the phrase "rising tides float all ships" resonates, reflecting a collaborative and welcoming business environment committed to mutual growth and success.

An Invitation The future is bright in Halifax and we want you to be a part of it. Join us as we navigate the exciting journey ahead, shaping Halifax into a leading destination for global financial services and technology.

Get in touch to discuss what business in Nova Scotia, Canada can look like for you.