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April 2012 Maritime Economic Fundamentals

Ally

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News articles for April.
 

Ally

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Nova Scotia invests in jobs, infrastructure, and training through shipbuilding contract





Nova Scotia committed up to $304 million in loans as part of Irving Shipbuilding's successful bid for the $25 billion federal combat vessel shipbuilding program, Premier Darrell Dexter revealed today, March 30.







It is the single largest investment in jobs and growing the economy in Nova Scotia's history - to strengthen the competitiveness of Irving Shipbuilding's bid to build Canada's next fleet of combat ships. It represents six per cent of the tax revenue the province expects to receive in return.







"I, the entire province, and indeed people from across Canada, have stood behind Irving's bid from day one, knowing that the best ships in the world start right here," said Premier Dexter. "This is the single most important opportunity Nova Scotia has ever seen to create jobs and propel our economy into the future. This is a vital project for Nova Scotia and for Canada."







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Halifax mixed project awaits city's OK




A developer is waiting for the official go-ahead from the city before beginning a Wrights Cove residential and commercial project.




Toronto-based Harbour Isle Halifax Inc. has a development agreement in place to build the Hazelton, a 12-storey, 89-unit residential tower off Windmill Road.




Originally slated to start construction in the spring, it now seems that work could begin in the summer, said project manager Dan Dean.





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Apartment construction boom hits Halifax




The Halifax region is in the midst of one of its biggest booms in apartment building construction in 40 years.




Data released Wednesday by the Canada Mortgage and Housing Corp. shows the number of housing unit starts recorded in March nearly doubled to 201 units, compared with 112 units in March 2011.




However, a more significant number is an accumulation of starts in the construction of apartment units. That currently stands at 2,276 units after !builders broke ground in March on 131 more apartment units.





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Wanted: St. John's rental units




It has been approximately 30 years since a new privately built apartment building with rental units has graced St. John`s, according to the city.




That is set to change with construction of a new building underway in Pleasantville, the city`s deputy mayor says more units are needed to accommodate people who cannot afford a mortgage in St. John`s.





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Nova Scotians may add exports to list of good news to anticipate in 2013




Who could blame Nova Scotians for taking a wait-and-see approach to the economy? But some experts believe 2013 might just be a watershed year for the province.




By that time, if everything goes well, both of the province`s paper mills will be back in production, Irving Shipbuilding`s $25-billion contract to build combat ships for the navy will begin, and there is additional evidence suggesting a dramatic turnaround in Nova Scotia`s exports.




The news about exports comes from Peter Hall, chief economist for Export Development Canada. He believes the economy in the United States is about to stage a rebound, particularly in the housing sector, and that should pump up Nova Scotia exports.





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Saint John home sales edge back in March



Residential sales activity reported through the MLSÂ System of the Saint John Real Estate Board numbered 120 units in March 2012. This was a decrease of 18 per cent from the same month in 2011. Home sales in all of New Brunswick were down nine per cent compared to March 2011.





`Home sales came back to earth in March following a near-record setting performance in February,` said Jason Stephen, President of the Saint John Real Estate Board. `The magnitude of the year-over-year decline is mostly a reflection of a strong March last year. Generally, we`re looking at demand right now that`s back in line with what we`ve seen over the past six months or so.`





The average price for homes sold in March 2012 was $168,371, down four per cent from the same month in 2011. By comparison, the average price for homes sold in New Brunswick was $159,943, unchanged from March 2011.





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Admiral Insurance to add 400 jobs at Halifax office




Unhappy with his job at the time, Jimmy Connors was at the right place at the right time when he heard a radio ad announcing the arrival of Admiral Insurance in Halifax.




Five years and three promotions later, Connors is one of the 425 employees who stood and cheered as the company`s local vice-president, Alex MacDonald, announced the insurance provider was adding 400 more positions to its Halifax office.





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