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NEWS Last modified on October 21, 2014

Halifax Stanfield economic impact soars, report finds

Halifax Stanfield International Airport (HSIA) is a “valuable” provincial asset worth €894 million to the Nova Scotia economy in 2013, according to a new economic impact report.

This figure represents an additional €13 million in economic output over the previous year at the Canadian gateway.

The report by Chris Lowe Planning and Management Group, found Halifax International Airport Authority (HIAA), and airport tenants have contributed approximately €371 million in renovation and new construction impacts.

This is since operational transfer from the federal government in 2000, and generated 8,625 full-time equivalent (FTE) construction-related jobs and €234 million million in wages and salaries, the report found.

These projects represent over 70% of airport-related capital improvements in Atlantic Canada.

Joyce Carter, HIAA president & CEO, explains: “Together, the airport authority and all of our airport partners have a tremendous impact on Halifax and the province as an economic generator and growth enabler.

“These investments are a clear statement of our confidence in the future. The time is now to pursue opportunities for more services and more growth.”

In 2013, direct employment created by the airport was 5,735 full-time equivalent (FTE) jobs.

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The study says the Halifax Stanfield community – made up of airlines, aerospace, air freight firms, the airport authority, retailers, restaurants, vehicle rental firms and companies supporting the air transportation industry – is a major economic, fiscal and employment generator for Halifax and Nova Scotia.

Carter continues: “When we consider the mega-projects identified by the Atlantic Provinces Economic Council and the Halifax Gateway Council, the development of the Nova Centre, the VOLTA incubation lab, DDI, the European Union markets that will grow through the comprehensive economic and trade agreement (CETA).

“Halifax’s strength in the financial and education sectors as well as life sciences and oceans research, there is no better time than right now to be aggressive in our pursuit of new opportunities to make our mark in a global marketplace. Halifax Stanfield stands ready to play its part.”

The report also found visitors by air represent 33% of all tourists to Nova Scotia, and stay longer and spend more than tourists who arrive by other modes of travel, generating an estimated €575 million in revenue, or 42% of the province’s estimated €1.38 billion tourism revenues in 2013.

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