THE Antigonish ADVANTAGE Table of Contents Preface The ABCs Advantages

THE Antigonish ADVANTAGE Table of Contents Preface The ABCs: Advantages of Business in Canada The Nova Scotia Advantage The Antigonish Advantage Our Real Strength: Our People v v 1 2 4 8 11 11 13 13 14 14 15 Our Workforce Education St. Francis Xavier University Strait Regional School Board Nova Scotia Community College Customized Oil and Gas Training v Research and Development 16 Resources & Infrastructure v v v v v v 17 17 19 19 22 23 26 Natural Resources Natural Gas Transportation Networks Realty Services Communications and Information Technology Information Technology Support Business Incentives & Support v v v v 28 28 30 33 35 Tax Incentives & Business Incentives Business Development Supports Taxation Business Registration Antigonish Business Support v v v 36 36 37 38 Accounting & Auditing Services Legal Services & Financial Services Government & Venture Funding Antigonish Living v v v v 39 39 40 40 41 Arts, Entertainment & Culture Sports & Recreation Health & Safety Services Housing Contacts 42 Preface T his document has been developed to highlight the advantages of doing business in Antigonish, Nova Scotia. It first gives a brief overview of the business climate in Canada, which was selected as the fourth most competitive country in the world in which to do business (Swiss-Based World Economic Forum, 1997). Next, it discusses the competitive advantages of locating in Nova Scotia, ear-marked by economists as “the Canadian province which is expected to have the highest investment growth over the next three years” (KPMG Canada study, April 1996). Finally, it highlights the Antigonish area, providing comprehensive information with regard to investment, infrastructure and support services. Antigonish has much to offer and we look forward to forging future partnerships with businesses and investors who are interested in learning more about this dynamic area. The Antigonish Advantage - 1 The ABCs: ABCs Advantages of Business in Canada Gordon Thiessen stated: “The Canadian economy continued its robust growth in 2000 and the trend of inflation remained low…Canada’s recent solid economic performance has led to rising personal incomes, growing employment, and an unemployment rate that in 2000 was at its lowest average level in 26 years.” C anada is a nation of well-educated and enterprising people, has an abundance of natural resources and is favoured with political stability and an unparalleled quality of life. In the Bank of Canada’s Annual Report (January 2001), former Governor Canada’s economy is now reaping the benefits from the accelerating pace of globalization over the past decade. The trade agreements that Canada forged in the late 1980s and early 1990s have ensured our increased participation in this new, more open competitive international economy. Under the North American Free Trade Agreement, a Canadian location provides the business investor with access to 400 million people and a gross domestic product of approximately $11 trillion. Canada also has free trade agreements with Israel and Chile, is a member of the World Trade Organization and continues to take steps to lessen global trade barriers. The Canadian economy is among the world's largest with a real gross domestic product of $864.8 billion (annualized second quarter basis in 1999). This is up 3.5% from $838.3 billion in 1998. The Antigonish Advantage - 2 Canada's current laws, regulations and political climate provide an environment conducive to international business. The country is noted for possessing an open and fair judicial system that is grounded in federal parliamentary democracy and limited by a constitutional Charter of Human Rights & Freedoms. Since the 17th century, people from all over the world have immigrated to Canada. Immigrants from England, Scotland, Ireland and France settled lands and initiated commercial trade. In later years, immigrants from Eastern Europe, the United States, Asia, Africa and Latin America have made this country their home. Canada is a strong multi-cultural nation and has two official languages -- English and French. Canada's quality of life is second to none. Each year, the United Nations ranks 160 countries using 42 indicators of human development, including per capita income, social services, health and personal freedom. Consistently since 1994, Canada's quality of life has been ranked the highest in the world. In 1997, the United Nations also ranked Canada number one in the world in its Report on Human Development. Canada boasts low location-sensitive costs. In fact, Canadian costs are more competitive than those of the United States. A KPMG Canada study (April 1996) revealed that Canadian manufacturing labour costs are 70% of those of the United States and software labour costs are 65% of U.S. costs. The Antigonish Advantage - 3 The Nova Scotia Advantage Province is connected to New Brunswick and the remainder of Canada by the 28 km. Isthmus of Chignecto. Cape Breton Island is joined to the mainland of Nova Scotia by the Canso N ova Scotia is in a prime trade and commerce location. Located on the scenic East Coast of North America, the Province of Nova Scotia covers an area of 55,500 sq. km. and serves as a gateway to nearly 40 million consumers. The mainland part of the Causeway, which crosses the deepest natural ice-free port in North America. The booming New England States are just a day’s drive away. By air, it is just a few hours away from major cities such as Boston and New York. The Antigonish Advantage - 4 Nova Scotia is located at 59 to 67 Longitude and 43 to 48 Latitude. This places Halifax, its capital city, south of Tokyo, Paris, Vienna, Minneapolis and Portland Oregon. The coastline stretches for 7,400 km., but the overall length of the province is only 574 km. while the average width is 130 km. Nova Scotia’s Department of Economic Development attributes Nova Scotia’s appeal to business investors to many factors, including the following. A HIGH QUALITY LABOUR FORCE Nova Scotia’s workforce is one of the best educated in Canada, with the most university students per capita in the country. More than 63% of Nova Scotia’s population of 941,000 has a high school or post-secondary education. Each year, 15,000 new post-secondary graduates strengthen our workforce. Nova Scotia boasts some of the finest schools in Canada, with 11 degreegranting institutions and 13 community college campuses. Specialized schools offering medicine, social work, education, dentistry, engineering, architecture, business administration, law, art and design programs, theology and oceanography can be found throughout the province. The Antigonish Advantage - 5 High School or Post-Secondary Education Nova Scotia vs. Canada 60 60 50 40 30 20 10 0 Canada Nova Scotia 48 Nova Scotia’s highly skilled workforce has a long-standing reputation as loyal and hard working. This statement is supported by the province’s low absenteeism rate of 3.4% as compared to 8% to 9% in the United States. Currently, 10.7% of the province’s workforce is available to work. As well, 10% of the labour force is fluently bilingual in both official languages, English and French. Nova Scotia labour costs, across all industries, are 16% lower than the Canadian average and are 19% lower than those of the United States. As these costs account for 55% of location-sensitive costs, the low cost of labour in Nova Scotia offers businesses a distinct competitive advantage. CHOICE INFRASTRUCTURE Nova Scotia is on the leading edge of the latest technology and is one of the few places in the world with a fully digital telecommunications network. Nova Scotia is also a major research centre in oceanography, biomedicine, the environment, telecommunications and software development. Excellent road, rail and container connections provide superior access to key markets in the United States. The province’s major international seaports provide excellent sea links to the North American Free Trade Agreement (NAFTA), European and Caribbean markets. There is also a ferry service from Nova Scotia to both Maine and New England in the US on a regular basis making business trips quick and easy. Halifax offers yet another strength in that it has the main international airport in the Maritime Provinces. Most flights stop over in Halifax on their routes to and from Europe and Africa. The Antigonish Advantage - 6 UNBEATABLE COST ADVANTAGES The Atlantic Canada Opportunities Agency commissioned KPMG Management Consulting to carry out an analysis of the relative costs of doing business in the United States and Atlantic Canada in 1996. The study examined the impact of key location-sensitive capital and operating costs for seven industries. For every industry, overall cost are lower in Atlantic Canada, with Nova Scotia identified as the second lowest among the 40 international locations studied. The current Canadian exchange rate means an automatic 35% (March 2001) cost advantage over all U.S. locations. Based on the average costs for all industries studied, Atlantic Canada would maintain a competitive cost advantage even with a significant drop in the current level of exchange. LIFESTYLE The excellent quality of life in this region has been recognized internationally and not only attracts hundreds of thousands of tourists each year, but also new business. Nova Scotia, known as Canada’s Ocean Playground, played host to more than 2.2 million out-of-province visitors in 1999. Tourism is a major industry (contributing $1.27 billion to the provincial economy in 1999) because of its spectacular scenery, clean and safe communities and an overall superior quality of life. The Antigonish Advantage - 7 The Antigonish Advantage A ntigonish is located on the northeastern shore of Nova Scotia, bordering the Northumberland Strait and St. George’s Bay. It is a gateway to Cape Breton with easy links to Prince Edward Island and Newfoundland. Known as the Highland Heart of Nova Scotia, Antigonish County is culturally rich, with diverse communities of Dutch, Mi’kmaq, Acadian and Black Loyalists, among others. Business has grown in the Antigonish area because of the progressive attitude of our people and institutions. The strength of this community is that it is a low-cost and extremely smart area of the province with a large market area and availability of quality human resources. The county's main economic advantage is the stability provided by the educational and health services in the Town of Antigonish. Because of its status as the consumer, commercial and social centre of the region, Antigonish can offer virtually any professional services … legal, financial, medical and educational. The Antigonish Advantage - 8 POPULATION The population growth in Antigonish between 1991-1998 continued to experience a positive growth trend. Living in the Antigonish community offers a wide range of opportunities. For example, residents of Antigonish have the advantage of educational, health, and recreational services available as well as a wide range of employment opportunities. Demographic and Labour Force Data Total Population Population Growth ’96 – ‘01 Population Density (Persons/km2) Antigonish 19, 578 0.12% 13.43 Nova Scotia 908,007 -0.1% 17.2 Source: NS Statistical Review, 1999 The economic state of the Antigonish region is relatively healthy compared to surrounding areas. The region's economic advantage is the stability provided by the educational and health services in the Town of Antigonish. The presence of St. Martha's Regional Hospital and Saint Francis Xavier University in the town ensures a base of highly paid professionals. professionals at these facilities have stable and relatively well paying positions. Even non- The largest employers in the county are public organizations such as the school board, the hospital and the university. Also, the new $18.9 million Millennium Centre at StFX University houses conference and IT training facilities, a modern fitness and wellness centre and two ice surfaces. The Antigonish Advantage - 9 Employment in Industry Retail Trade Educational Service Health Accommodation, food & beverage service Construction “Other” service Manufacturing Agricultural Government Service Fishing & Trapping Logging & Forestry All Others Antigonish 15.1 % 11.8 % 11.6 % 9.2 % 7.7 % 6.8 % 6.2 % 4.1 % 3.7 % 3.6 % 3.6 % 16.6 % Nova Scotia 13.0 % 7.3 % 10.6 % 6.5 % 5.9 % 7.3 % 10.4 % 2.3 % 9.6 % 2.2 % 1.2 % 23.7 % Source: Statistics Canada, 1996 Census data Antigonish … v A well-educated and highly skilled labour force -- with levels of university attainment 15% higher than the provincial average. The Town of Antigonish is the primary service, retail, government and healthcare centre for northeastern Nova Scotia. Power in Nova Scotia is about 40% cheaper than northeastern United States; power in the Town of Antigonish is 17% cheaper than the rest of Nova Scotia. Industrial land costs are $12,000-$15,000/acre – about 40% less than elsewhere in Atlantic Canada. First-rate telecommunications, technological and transportation infrastructure Quality tourism infrastructure and attractions with potential for further development International reputation; home of the famous Antigonish Movement v v v v v v The Antigonish Advantage - 10 Our Real Strength: Strength Our People OUR WORKFORCE A ntigonish is well known for its high quality, well-trained and highly skilled labour force. Local trades people recently completed major highway and school construction projects, including $1 billion in the natural gas sector including a fractionation plant, natural gas plant and the laying of pipeline. The area’s cultural diversity is reflected in the work force, as approximately 10% are fluently bilingual in Canada’s two official languages -- English and French. In Nova Scotia, labour costs across all industries are 15% lower than the Canadian average and 19% lower than in the United States. As these costs account for 55% of location-sensitive costs, the low costs of labour in Nova Scotia offer businesses a distinct competitive advantage. Average Nova Scotia Weekly Wages, by Industry (1992-1997) in U.S. Dollars Industry Forestry Mining Manufacturing Transportation, Communication & Utilities Trade Public Administration Services Construction Finance, Insurance & Real Estate 1993 365 642 454 491 257 522 349 435 414 1994 360 619 425 468 256 492 324 400 410 1995 350 614 425 471 255 469 315 411 416 1996 355 605 440 473 268 476 317 404 429 1997 363 566 456 447 269 434 308 428 470 1998 311 551 433 407 254 427 287 388 377 Source: Nova Scotia Statistical Review, 1999 The Antigonish Advantage - 11 Wages by Occupation Average Hourly Rate in U.S. $ $ 9.90 $ 7.28 $ 7.99 $ 21.78 $ 6.64 $ 5.98 $ 7.44 $ 7.80 $ 4.69 $ 6.71 $ 6.01 $ 9.51 $ 7.20 $ 8.63 $ 9.34 $ 11.12 $ 11.17 $ 9.67 $ 8.06 $ 9.10 Occupation Accountant Clerk Computer Analyst Computer Programmer Engineer Customer Service Representative Data Entry Clerk Executive Secretary Word Processor Hand Packer Fork Lift Operator Production Worker Machine Operator Light Assembly General Maintenance Machinist Welder CNC Operator Electronic Technician Lab Technician Network Administrator Average Hourly Rate CDN $ $ 14.91 $ 11.20 $ 12.29 $ 33.50 $ 10.21 $ 9.20 $ 11.45 $ 12.00 $ 7.21 $ 10.33 $ 9.24 $ 14.63 $ 11.08 $ 13.28 $ 14.37 $ 17.11 $ 17.19 $ 14.87 $ 12.40 $ 14.00 Average Weekly Rate $U.S. (40 hrs/wk) $ 388 $ 291 $ 320 $ 871 $ 265 $ 239 $ 298 $ 312 $ 187 $ 269 $ 240 $ 380 $ 288 $ 345 $ 374 $ 445 $ 447 $ 387 $ 322 $ 364 Source: HRDC Labour Market Information – 1998 The Antigonish Advantage - 12 EDUCATION Antigonish is well known for its high quality, well-trained and highly skilled labour force. The area also has very high education levels, with the level of university attainment about 15% more than the provincial average. This is in part thanks to the presence of one of the finest universities in Canada -- Saint Francis Xavier University. ST. FRANCIS XAVIER UNIVERSITY: RANKED # 1 IN CANADA Antigonish is home to St. Francis Xavier (StFX) University. According to the 2002 Maclean’s Magazine’s annual university survey, St. FX was the first ranked undergraduate university in Canada. Today, with the student population of over 3,600, StFX offers general, major and honours degrees in the faculties of Arts, Sciences, Business and Information Systems. Programs from nutrition, aquatic resources and consumer studies to business administration and information systems are offered to both resident and off-campus students. StFX’s Coady International Institute and the StFX Extension Department are world renowned for facilitating economic development through the establishment and support of co-operatives and credit unions. Furthering the goals of the Antigonish Movement, the Extension Department organizes educational courses in rural areas of northeastern Nova Scotia, and the Coady International Institute extends the principles to community development leaders from around the world. StFX University developed the award-winning WebFX, a sophisticated network system facilitating electronic teaching methods for professors. It allows students, especially those in The Antigonish Advantage - 13 business programs, to prepare for their careers using cutting edge technology. Currently, 74 students will be graduating through the University’s BIS degree program. StFX has been focusing on the development of multimedia applications and courses for use in school and community. The university has also developed formal partnerships with local businesses and community groups. Such a partnership has resulted in the $18.9-million Millennium Centre, to be constructed in 2000-2001, which will house a wide range of Information Technology training facilities, as well as convention and concert facilities. STRAIT REGIONAL SCHOOL BOARD The Strait Regional School Board delivers educational services within the counties of Antigonish, Guysborough, Inverness and Richmond. The Board is comprised of 28 schools, 1,002 professional staff and 11,156 students. The Antigonish area alone encompasses five elementary schools and three secondary schools. Aside from the provincial core curriculum, the Strait Regional School Board offers specialized courses in various areas, such as French Immersion honours programs, prevocational studies and some specialized courses in Mi' kmaq are available. There is a campus of the College de l'Acadie in the Acadian community of Pomquet, east of the Town of Antigonish. The school board has continuing and adult education programs, as does StFX University. The new Mulgrave Professional Development Centre is a result of a creative partnership with MTT and IBM, with the support of the Industry Canada-funded Strait East Nova Community Enterprise Network (SENCEN). The centre provides a venue for staff training and an opportunity for students and community members to become technologically literate. It also facilitates strategic planning of education services in the region, including human resources technology training requirements of business and industry. NOVA SCOTIA COMMUNITY COLLEGE Vocational training is available from the Antigonish area at the Strait Campus and the Stellarton Campus of the Nova Scotia Community College. Strait Campus is located in Port Hawkesbury, approximately 50 kms. east of Antigonish; Stellarton Campus is located in Stellarton, 40 kms west of Antigonish. The Strait Area Campus and Nautical Institute offer a wide variety of technical and vocational courses and programs. It has sought industry input in its training and The Antigonish Advantage - 14 course planning, resulting in graduates successfully filling the needs of many local businesses. Enrolment stands at 1,550 with 550 full-time students, 800 part-time and 200 marine students. CUSTOMIZED OIL AND GAS TRAINING Nova Scotia Community College is continually expanding its slate of customized oil and gas training programs. In addition to some of its core programming like Marine Emergency Duties, H2S Alive, Radar Observation and Industrial Rigging, the college is working alongside industry to develop specialized, time-sensitive training. The college works with industry to develop curriculum to fill current and future training needs. Current programs include: High Pressure Pipe Welding; Heavy-Duty Mobile Equipment Operator; and Micro-Computer Specialist. The college is collocated with the Strait area Nautical Institute, which has a fire-fighting facility, wave training pool and dockside boat facility. The Nautical Institute also offers a broad range of Nautical/Marine courses with a state-of-the-art bridge, propulsion plant and communications simulators. St. Francis Xavier University v v v v v v v v StFX is ranked the top undergraduate university in Canada in the 2002 MacLean’s magazine annual university survey For the past 20 years, StFX has maintained its rank among top Canadian undergraduate universities for research grants awarded to science faculty by the Natural Sciences and Engineering Research Council of Canada (NSERC); Arts faculty also receive grants from the Social Sciences and Humanities Research Council of Canada (SSHRC); In the past 13 years, StFX students have been awarded more than 70 NSERC scholarships for postgraduate studies; Four StFX students have won the prestigious Rhodes Scholarship in the last 13 years; The NSERC 1967 Centennial Scholarship (valued at $21,300 per year) for postgraduate studies has been awarded to seven StFX students in nine years; StFX students distinguish themselves in regional and national competitions bringing home top honours on a regular basis. One of only two universities offering SAP training in Canada. The Antigonish Advantage - 15 RESEARCH & DEVELOPMENT The Annual Report of the bank of Canada states that there has been a surge in technological investments since 1996. This is in part due to Canada's research and development tax incentive program -- the most generous within the G-7 nations. Businesses can enjoy an immediate and full write-off for most costs and 20% to 48% tax credits. According to Ernst and Young and the Conference Board of Canada, Nova Scotia has one of the best performing R&D incentives in Canada and it outperforms almost all U.S. locations. Research and Development Projects are wide ranging in scope: manufacturing and software development, marine, aerospace, environment, biotechnology, agriculture, information technology and medical research and innovation (cancer, cardiology, infectious diseases, multiorgan transplants). St. Francis Xavier University Research • St. George’s Bay Ecosystem Project • Food Research Lab www.stfx.ca/tresearch • Information Systems and Technology • Multimedia and Software Development • Bacterial Pathologenics • Visual Cognition • Biomechanics Lab • Plant Evolution and Development • Business Management Research • Accounting and Marketing • Social Research for Sustainable Fisheries The Antigonish Advantage - 16 Resources and Infrastructure A number of strengths make Antigonish a viable location for export activities. The Strait of Canso, the deepest natural ice-free port in North America is only a short distance away by road. An international shipping lane, which runs from South America all the way to Iceland stops into the port regularly. The Trans-Canada Highway runs right through the middle of the county, giving easy year-round access to any destination in North America. The booming New England States are just a day’s drive away. Antigonish is the government, business and shopping centre for eastern mainland Nova Scotia. The major employers are St. Francis Xavier University with 500 employees and St. Martha's Regional Hospital with 300 employees. The Town of Antigonish also has local branches of major financial institutions and new high-tech education facilities. Bordering on the Trans-Canada Highway east of the Town is the Antigonish County Industrial Park. The full-service park consists of 101 acres, which is accessible year round and is serviced by a potable water distribution system, storm and sanitary sewers, and fire hydrants. CB & CNS Railway rail sidings are available to the Park. Major industries in the county include fishing, forestry, tourism and dairy. NATURAL RESOURCES FISHERY With a landed value amounting to $8.2 million in 1998, Antigonish County's share of the provincial total is 1.5%. There is one large fish processing plant, Arisaig Fisheries Ltd., which employs 110 and processes primarily lobster and other shellfish (1998-1999 N.S. Manufacturers Directory). The Antigonish Advantage - 17 Rank of Value of Landings by Species, 1998 - Antigonish ($000) Lobster Winter Flounder White Hake Herring Plaice $ 7, 911 $ $ $ $ 105 84 38 30 Source: Dept. Fisheries & Oceans, 1998 FORESTRY In 1998, a total of 218,835 m2; (193,264m2 ; softwood and 25,571m2; hardwood) of roundwood was harvested in Antigonish. These totals are relatively minor compared to province-wide harvesting, amounting to 3.7% of softwood harvested and 3.9% of hardwood harvested. According to the 1998 Nova Scotia Registry of Buyers there are 15 registered buyers of roundwood products in the Antigonish area. Antigonish County is shouldered on either side by two large pulp and paper mills - Stora Enso (Point Tupper, Richmond County) and KimberleyClark (Pictou Landing). AGRICULTURE During the 1950s and the 1960s the arrival of a large number of farm families from the Netherlands contributed significantly to the growth and development of agriculture in Antigonish County. There are 44 dairy producers in the region that represent 10% of Nova Scotia's total production. Twenty-five percent of the milk for Scotsburn Co-operative Dairy (an Antigonishbased dairy distribution centre) is produced in Antigonish/Guysborough County. A total of 20.2% of Antigonish is farmland, which accounts for 6.9% of all farmland of Nova Scotia. In terms of how farmland is used, 33% is for beef cattle, 22% for dairy cattle and 21% for Christmas trees. The Antigonish Advantage - 18 NATURAL GAS Although all of the construction activity associated with the plant and pipeline took place outside of Antigonish, the county has benefited substantially. While the gas plant was being constructed in Goldboro and the pipeline being built from Goldboro towards the Nova Scotia/New Brunswick border, there were over 2,000 people involved in construction, many of these living in the Antigonish area. Over the long term there will be about 70 full-time employees at the gas plant in Goldboro. A consultant with strong oil credentials was hired by the four northern Regional Development Authorities to assist the region's business community access Sable contracts. This initiative lead to local companies securing over $50 million in oil and gas related work. The Antigonish Regional Development Authority (ARDA) is bullish on the possibility of both petrochemical developments and increased exploration and development with resultant impacts in northern Nova Scotia. The first lateral pipeline from the Sable gas fields has been completed and natural gas is now available for commercial use, offering clean, efficient and cost-effective energy to industry and consumers. It is estimated that there are 24 trillion cubic feet of natural gas reserves on the Scotian shelf (www.soep.com). Natural gas rates will be very competitive with U.S. rates due to substantial savings on transportation. TRANSPORTATION NETWORKS The transportation infrastructure in the Antigonish/Strait Area is world-class, offering a multitude of links to key markets. The area connects to the Atlantic’s extensive network of rail, road, air and shipping routes. Ultimately, the region provides easy access to millions of consumers in the North American market and offers solid links to European Communities, the NAFTA trade-zone and Japan. MARINE There are no substantial port facilities in Antigonish County beyond fishing wharves; however, The Antigonish Advantage - 19 the Strait of Canso’s Superport is just minutes away from Antigonish County. The Strait Superport has one of the finest deep-water, ice-free and dredge-free harbours on the continent along with superior wharf facilities. It is strategically located on established international and coastal shipping lanes. In fact, its location on the Great Circle Atlantic Shipping Route is well situated to serve Eastern North America and the Great Lakes, as well as Trans-Atlantic destinations. The Strait area is an ideal location for a variety of marine-related activities, with more than 16,000 acres of industrial land to meet the needs of marine and industrial clients. The main harbour can accommodate Ultra Large Carriers of the 500,000-tonne class. Common user and private terminal facilities along the Strait of Canso can meet the needs of shippers, vessel operators, cargo importers and exporters. RAIL LINKS Antigonish is well served by highway and railway transportation routes. The Cape Breton and Central Nova Scotia Railway (CB&CNSR) links the Antigonish/Strait Area to the Canadian National Railway and the continental heartland of the United States. This short-line railway was purchased from CN Railway in 1993 by Rail Tex Inc. and has recently been purchased by RailAmerica out of Boca Raton, Florida. The recent purchase by RailAmerica has made the CB&CNS Railway part of the largest short line railway in the world, both Rail Tex Inc. and RailAmerica trade on the NASDAQ stock exchange under the symbols rtex and rail respectively. CB&CNSR Railway operate over 245 miles of track that run from Truro to Sydney, Nova Scotia and has its headquarters in Stellarton, Nova Scotia. The rail link from Truro westward can also double stack containers to provide additional transportation capacity. Traffic is interchanged with Canadian National Rail in Truro, NS; Cape Breton Development Corporation in Sydney, NS; and Marine Atlantic in North Sydney, NS. ROAD Antigonish is easily accessible off Routes 6, 7, 245, 337 and Trans-Canada Highway 104. There has been a significant investment in the upgrading of this modern 100-series Trans-Canada highway system throughout Nova Scotia, with the ultimate objective of providing a four-lane The Antigonish Advantage - 20 divided highway spanning the province. The highway system offers businesses an expedient, safe transport of goods. The large volumes of freight which are transported on this all-weather, high-speed highway, have access to direct links with U.S. Interstate highways as well as to the rest of Canada. AIR Antigonish is 150 kms from Halifax International Airport. The closest airports are Port Hawkesbury (40 kms) with a 1525m runway and Trenton (40 kms) with a 1220m x 45m runway. The local Port Hawkesbury Airport offers chartered flights and the Halifax and Sydney Airports offer daily flights and connections to major centres within Canada, the United States, Europe and throughout the world. COMMERCIAL AIRPORT International Hub Status Number of Runways Runway Capacity Carriers Serving Airport Sydney Halifax No 2 737 Aircraft Air Nova Yes 2 747 Aircraft Air Canada, Canadian Airlines, Air Nova, Air Atlantic, Air Transit, Royal Air, Air St. Pierre, Canada 3000, Icelandair, Continental, Business Express Provincial Airlines, Prince Edward Air Halifax Yes 1000 New York Boston Toronto Charter Service Provincial Airlines, Prince Edward Air Halifax No N/A Halifax Moncton St. John’s The Antigonish Advantage - 21 Customs Port of Entry Foreign Trade Zones at the Airport # of Weekly Non-Stop Flights Five Largest Cities Served Charlottetown Boston Hours of Operation 24 hours a day, 7 days a week 287 Montreal London 24 hours a day, 7 days a week Number of Fog Free Days 244 The Port Hawkesbury Airport offers a 1,525-metre runway and is capable of handling most corporate commercial aircraft up to a Boeing 737. It also has the capability to operate at night and has IFR operations that are enhanced by medium intensity lighting and runway identification lights. The airport provides high-level maintenance, including winter maintenance that results in the provision of a year-round and reliable operation. COMMERCIAL AND RESIDENTIAL REALTY SERVICES There is excellent commercially zoned land and buildings available for sale or lease in the Antigonish area, located in industrial and business parks as well as private sites. Interested businesses may contact the Municipality of the County of Antigonish to learn more about opportunities at the Antigonish County Industrial Park, 285 Beech Hill Road, R.R. # 7 Antigonish, NS, Canada, B2G 2L4 (902) 863-1117. Local realty companies can provide information on available land, commercial and residential properties. ANTIGONISH REALTY SERVICES Century 21 Trident Realty Ltd. Highway 104 Lower South River, NS (902) 863-0668 century21@ns.sympatico.ca Sceles Realty Ltd. 143B Hawthorne Street Antigonish, N.S. B2G 1B2 (902) 863-1446 Mary-Pat Realties Ltd. 208 Main Street Antigonish, N.S. B2G 2B9 (902) 863-4824 marypatant@auracom.com Prudential Highland Properties 219 Main Street, Suite 104 Antigonish, N.S. B2G 2C1 (902) 863-1878 prudential@ns.sympatico.ca The Antigonish Advantage - 22 PrivateList.Com www.privatelist.com Land Information Services: Department of Housing and Municipal Affairs Website: http://www.nsgc.gov.ns.ca COMMUNICATIONS AND INFORMATION TECHNOLOGY Communication has always been vital to the growth and prosperity of Nova Scotia. The province has a sophisticated, fully digital telecommunications network. In fact, it is one of the few places in the world that has such a network. The main telecommunications service provider is Maritime Telegraph and Telephone Co. Ltd. Nova Scotia was involved in the earliest developments in telecommunications and has continued to invest in developing new state-of-the-art technologies. The Town of Antigonish has been one of the first communities in the province with "MPowered" Internet connections, which is a service by Maritime Tel and Tel (MTT) providing subscribing households with high-speed access to the Internet. Maritime Tel and Tel offers regular phone service as well as telemarketing, telecollection and teleconferencing to the area with excellent service throughout the Maritime region. MTT invests heavily in new technology. In 1997-1998, the company invested more than $200 million and the following year invested over $120 million. Antigonish County has 10 public community access (CAP) sites in Antigonish County. As well, StFX University provides Antigonish with important information and communications infrastructure. The university has just been linked to Nova Scotia's High Speed Network as part of the Information Economy Initiative. StFX University developed the award winning WebFX, a sophisticated network system facilitating electronic teaching methods for professors. It allows students, especially those in business programs, to prepare for their careers using cutting edge technology. StFX has been focusing on the development of multimedia applications and courses for use in school and community. Through the SAP Canada University Alliance Program, StFX is offering education in ERP integrated with SAP. The university has also developed formal partnerships with local businesses, community groups The Antigonish Advantage - 23 and government. One such partnership has resulted in the $18.9 million Millennium Centre, soon to be built on the StFX campus, which will house conference and IT training facilities. MEDIA CJFX AM/FM radio has been broadcasting in Antigonish since March 1943, making it one of the oldest in Nova Scotia. CJFX broadcasts 24 hours a day with programming covering all aspects of the musical spectrum, as well as talk shows, and up to the minute news and sports. The primary coverage areas include the counties of Antigonish, Guysborough, Inverness, and Richmond. CIGO FM, broadcasting out of Port Hawkesbury, went on the air in 1975. It follows an adult contemporary format and reaches the entire Strait of Canso area. CBC Radio 1 FM is transmitted from the Mulgrave site. CBC Halifax, ATV Cape Breton and Global bring regional and national television to the area. Bragg Communications and Rural STV 1 Ltd. provide additional broadcasting on Canadian and American stations. The Casket Printing & Publishing Co. Ltd. has been serving the public since 1852 with its community newspaper, The Casket, the oldest continuing weekly newspaper in Canada. The Casket's weekly circulation exceeds 9,000 copies with patrons in Antigonish, Guysborough and Pictou counties as well as Cape Breton Island and various points throughout Canada and the United States. On a daily basis, The Chronicle-Herald, Nova Scotia's provincial paper, is delivered to homes and new-stands throughout the area. TELECOMMUNICATIONS IN ANTIGONISH • Continuously updated fully digital telecommunications network; • Fibre-optic network covering select location within a four-kilometre radius of Antigonish town; • ATM broadband switching network designed for high-speed data and multimedia available – up to 3 MB/second download speed; • MTT's dedicated Business Internet accessible to all provincial businesses; • Ease of access to satellite telecommunications, frame relay and ADSL systems complete cellular service and wireless networks. The Antigonish Advantage - 24 PHONE RATES Maritime Telegraph and Telephone Company (MTT) is the main service provider in the Antigonish area, with long distance competition coming from ATT, Sprint Canada and many others. MTT offers a wide range of telephone services to the business community including straight phone line installation, Internet service, telecommunications services, toll free numbers, specialized state-of-the-art equipment and consultation services. It also offers various packages to ensure its clients obtain the most cost-effective rates for the type of service they require. The rates vary with the needs of each business client. For rate information, contact: MTT: Eastlink: AT&T: Sprint Canada: 1-800-992-5997 or at http://www.mtt.ca 1-902-735-5000 or at http://www.eastlink.ca 1-800-222-0400 or at http://www.att.com 1-800-456-9711 or at http://www.sprintcanada.ca TELECOMMUNICATIONS SERVICE PROVIDERS Rogers / AT&T Call Centre, long-distance, data and cellular services. http://www.att.com 1-800-248-4343 http://www.rogers.com 1-800-265-6565 Eastlink Communications Telephone, Internet and Cable TV Services 1-902-735-2800 http://www.eastlink.ca MTT Mobility Cellular service 1-800-222-7074 http://www.mttmobility.mtt.ca Internet access (902) 539-7955 http://www.auracom.com Internet access 1-800-920-7873 http://www.ca.inter.net Full-service telephone, data and telecommunications provider 1-800-992-5997 http://www.imgrowing.mtt.ca The Antigonish Advantage - 25 Auracom Internet Maritime Tel & Tel http://www.mtt.ca MTT Sympatico Internet access 1-800-733-2121 http://www.sympatico.ca Sprint Canada Long-distance and data 1-800-980-5464 http://www.sprintcanada.ca INFORMATION TECHNOLOGY SUPPORT A number of organizations support the development of telecommunications systems and information technology in Nova Scotia. Services range from connecting people to the right system for their business needs to developing, testing and commercializing new applications. ATLANTIC LEARNING INNOVATIONS NETWORK (ALIN) http://www.alin.ca The Atlantic Learning Innovations Network (ALIN) is an entrepreneurial not-for-profit organization which is a partnership of various educational and business. It focuses on: • • • • E-Learning: application of information and communication technologies to formal and nonformal learning. E-Business: the application of these technologies to existing and new business ventures. E-Content: application of these technologies to economic, social and cultural content from industrial and entertainment sectors and specialized content in education and health fields. E-Networking: the establishment and application of the telecommunications infrastructure and partnerships to build and support all of the above. NOVAKNOWLEDGE http://www.novaknowledge.ns.ca NovaKnowledge was established in 1993 and is a unique association committed to promoting the growth of the knowledge-based economy and forging links between business, governments and educational services. ITANS http://www.itans.ns.ca The Information Technology Industry Alliance of Nova Scotia, representing the IT industry in the province, has the broad task of fostering growth within the industry. Its main thrust in this The Antigonish Advantage - 26 direction is in contributing to provincial and national policy development on issues relevant to the IT industry. It also focuses on delivering business facilitation services to its members. TARA (TELECOM APPLICATIONS RESEARCH ALLIANCE) http://www.tara.ca TARA is an R&D lab whose mission is to “enable its members to be world leaders in the development and exploitation of communication network applications and services.” It facilitates partnerships among researchers, developers and manufacturers to help bring new technologies to market. INNOVACORP http://www.innovacorp.ns.ca InNovaCorp is a provincial crown agency involved in research and development, combining its expertise with financial and academic resources available through government, business and the education system. A one-of-a-kind organization, it supports individual companies by partnering and promoting the commercialization of technology developed in Nova Scotia. Over 100 business, engineering and technical staff provide an array of commercialization and partnership services. POSTAL & COURIER SERVICES Canada Post provides a nation-wide mail service that is affordable and easily accessible. It offers regular delivery, bulk mail delivery and a variety of priority post, airmail, registered mail and courier type services. Parcels can be insured and the postal corporation has a sophisticated tracking system for parcels that are insured and registered. Canada Post has streamlined its operations to become an efficient and effective postal service and now includes overnight service to many locations in Canada and on the eastern seaboard of the United States. Other parcel and mail delivery services available in the area include MacNeil Courier, Altimax, Federal Express, UPS, Sameday Right-O-Way Courier, Loomis Courier and Purolator. Parcel pick-up can be arranged by phone. Same day service is available to some locations and overnight service to specified destinations is possible. The Antigonish Advantage - 27 Business Incentives & Support T he Government of Canada and the Government of Nova Scotia’s carry a pro-business attitude, which effectively translates into reasonable policies, regulations and business development incentives. These incentives include those for investment, manufacturing, research and development and small business development. TAX INCENTIVES Nova Scotia New Business To assist the start-up of new business ventures, provincial taxes are eliminated on eligible businesses for the first three fiscal periods on the initial $200,000 annual taxable income. This is a non-refundable credit against Nova Scotia corporate income taxes owing and is for 15% of qualifying investments in new manufacturing and processing plant and equipment for use in manufacturing and processing in Nova Scotia. It may be carried forward 7 years and back. The Nova Scotia Research and Development Tax Credit (R&D credit) offers tax relief to incorporated Nova Scotia firms that incur qualified scientific research and experimental development (SR&ED) expenditures made in Nova Scotia, as defined by the federal Income Tax Act. The 15% refundable credit is administered by Revenue Canada Taxation and claimed in conjunction with federal SR&ED tax credits. The capital cost allowance allows taxpayers to charge up to a 30% declining balance on manufacturing machinery and equipment. This enables a significant write-off of these assets in the initial years of operation. The federal government offers a reduced tax rate on profits for corporations involved in manufacturing and processing activities. This special rate effectively reduces the general rate from 28% to 22.12%. Investment Tax Credits Research and Development Incentives and Tax Advantages Capital Cost Allowance Special Rate for Manufacturing and Processing Profits The Antigonish Advantage - 28 Equity Tax Credit An individual income tax credit, equivalent to 30% of eligible equity investments up to $30,000. The maximum credit of $9,000 annually is available to encourage investment in small businesses, co-operatives and community economic development. This credit may be carried back three years or forward seven years. A refundable corporate income tax credit is available for Nova Scotia film production companies, equivalent to 30% - 35% of the wages and salaries paid to Nova Scotians and 15% - 17.5% of total production costs. In recognition of the value of establishing and maintaining ISO 9000 certification, a non-refundable corporate income tax credit, equal to 25% of eligible expenditures, can be claimed by companies seeking this certification. Film Development Tax Credit ISO 9000 Tax Credit & ISO 14000 Tax Credit SMALL BUSINESS INCENTIVES Lower Corporate Income Tax Rate Small Canadian-owned businesses benefit from a preferred federal-provincial tax rate ranging from 18% to 21%. The Nova Scotia Small Business Tax Deduction effectively eliminates the Nova Scotia Corporation Income Tax for the first three years for a new small business incorporated after April 24, 1992. Only 50% of capital gains is subject to tax and the first $500,000 of capital gains on the disposition of qualified business shares by individuals is exempt from income tax. Labour - sponsored venture - capital tax credit is designed to assist Nova Scotia small and medium sized businesses and co-operatives in obtaining equity financing by offering a personal income tax credit to individuals investing in registered labour-sponsored venture-capital corporations, or LSVCC's. As of November 1999 Small Business Deduction Capital Gains Taxation Nova Scotia Labour-sponsored Venturecapital Tax Credit The Antigonish Advantage - 29 BUSINESS DEVELOPMENT SUPPORTS ANTIGONISH REGIONAL DEVELOPMENT AUTHORITY (ARDA) The Antigonish Regional Development Authority acts as the first point of contact for investors requiring further information on the Antigonish Area. ARDA directs investors to the best possible sources of information, working closely with them to ensure a smooth transition into the local economy. ARDA is located in the Access Centre on St. Andrews Street in Antigonish, along with some of its partners in development: Northern Opportunities for Business (NOBL), the Nova Scotia Departments of Economic Development, Sport and Recreation, and Service Nova Scotia. ARDA has a staff of four and a 12-member board representing the town, the county, the university, and other sectors. http://www.antigonishrda.ns.ca Phone: (902) 863-3330 Fax: 863-4095 NORTHERN OPPORTUNITIES FOR BUSINESS LIMITED (NOBL) NOBL is the community business development corporation in the Antigonish area. NOBL delivers ACOA (Atlantic Canada Opportunities Agency) funded programs, works with smalland medium-sized businesses offering financial assistance and marketing assistance to individual clients. It serves Colchester, Pictou and Antigonish Counties with offices and investment committees in each county. http://www.cbdc.ca Phone: (902) 863-3365 Fax:(902) 863-4095 NORTHEASTERN COMMUNITY INVESTMENTS INC. NCII is a community economic development investment fund that can take equity positions in companies in Antigonish, Guysborough, Inverness or Richmond Counties. http://www.antigonishrda.ns.ca/ncii Phone: (902) 863-3267 Fax: (902) 863-4095 DEPARTMENT OF FOREIGN AFFAIRS AND INTERNATIONAL TRADE DFAIT is a federal government department that works with provincial governments and private industry associations to ensure that businesses seeking export opportunities or assistance are directed to the proper source. DFAIT also provides access to other federal departments with expertise in specific areas. http://www.dfait-maeci.gc.ca/investcan/ The Antigonish Advantage - 30 STRATEGIS CANADA - INDUSTRY CANADA Industry Canada is a key federal department for investors. It has developed a website that incorporates large databases of business information and links to business development agencies, funding partners and other relevant sites. It is considered to be Canada’s business information site. The department is well versed in strategic planning and has a page to assist business in developing solid business strategies. http://strategis.ic.gc.ca HUMAN RESOURCE DEVELOPMENT CANADA (HRDC) HRDC is the federal government department that helps Canadians prepare for, find and keep work. One important incentive program offered by HRDC is the Job Creation Partnerships program, which supports job creation activities. HRDC works in collaboration with provincial and regional economic development agencies, other government departments, community partners and the private sector to create long-term sustainable employment in sectors that have good prospects for future growth. It specifically provides employers with financial assistance to create employment opportunities. http://www.ns.hrdc-drhc.gc.ca Phone (902) 863-7037 ATLANTIC CANADA OPPORTUNITIES AGENCY (ACOA) ACOA is a federal government agency mandated to improve the economy of Atlantic Canadian communities through the development of business and job opportunities. It offers a business development program that targets businesses and offers capital in the form of interest-free, unsecured, repayable contributions. It can be used to aid companies or individuals set up, upgrade or expand their business. Contributions are limited to 50% of costs related to expansion, modernization and start-up and 75% of soft costs such as marketing, training and quality assurance. http://www.acoa-apeca.gc.ca Phone 1-800-705-3929 or Fred Davis (Area Manager) (902) 867-7379 N.S. BUSINESS DEVELOPMENT CORPORATION/ INVESTMENT & TRADE This corporation provides loans and loan guarantees for land purchase and improvements, construction of buildings, purchase or lease back of machinery, and other fixed assets, generally businesses in manufacturing, processing and technology-based industries. It may also offer assistance for the establishment and development of business in targeted economic sectors. The Antigonish Advantage - 31 http://www.novascotiabusiness.com Phone (902) 863-7380 BUSINESS DEVELOPMENT BANK OF CANADA The BDC is a Crown Corporation that offers specialized financing for commercially viable business projects. Its mission is to help create and develop small- and medium-sized enterprises in Canada. It offers venture loans, venture capital and term loans to eligible businesses. http://www.bdc.ca EXPORT DEVELOPMENT CORPORATION (EDC) The EDC is a unique financial institution that has been helping Canadian businesses grow and prosper through exports and international investment since 1944. EDC’s sophisticated trade finance solutions can help exporters compete in more than 200 countries, including higher-risk and emerging markets. EDC is a Crown Corporation that operates as a commercial financial institution. It provides export financing, direct loans, lines of credit as well as guarantees and insurance for Canadian companies and their foreign customers. The EDC also provides economic summaries from their Country Risks and Opportunities Workbook that provides key economic indicators for over 65 countries. http://www.edc.ca InNovaCORP InNovaCorp is a provincial crown agency involved in research and development, combining its expertise with financial and academic resources available through government, business and the education system. It was established in 1994 to grow Nova Scotia’s knowledge economy through technology commercialization and partnerships. Its main office is in Dartmouth, Nova Scotia, where commercialization advisors and corporate services testing services and business incubator are located. Commercialization advisors are in field offices in Sydney and Wolfville, Nova Scotia. InNovaCorp is linked to universities, research institutions and companies across the province and across Canada. http://www.innovacorp.ns.ca The Antigonish Advantage - 32 TAXATION CORPORATE TAXES The Town of Antigonish offers 35% lower taxes than towns rated in a KPMG Study commissioned by the Nova Scotia government (1996). Canada’s combined federal-provincial income tax rate averages 43%, with a base federal corporate tax rate of 28%. The provincial corporate taxes are as follows: Corporation Tax Rates as of May 6, 1999 Income Tax as % of CTI Manufacturing and Processing Small Business Rate Capital Tax Provincial Property Tax Payroll Tax Health Care Premiums Harmonized Sales Tax 16.00% 16.00% 5.00% 0.25% Nil Nil Nil Nil (Total refund) For more detailed information on corporate taxes contact: Provincial Nova Scotia Department of Finance Phone: (902) 424-5554 Web Site: http://www.gov.ns.ca/fina Canada Customs and Revenue Agency Business Enquiries Phone: 1-800-959-5525 Web Site: http://www.ccra-adrc.gc.ca Federal The Antigonish Advantage - 33 MUNICIPAL TAXES Municipal Tax Rates 1998-99 *Includes all service fees Area Antigonish County Town of Antigonish Richmond County Guysborough County Inverness County Town of Port Hawkesbury Town of Mulgrave Commercial Rate $ 1.31 $ 2.19 $ 1.38 $ 1.55 $ 2.06 $ 3.32* $ 3.69* Residential Rate $ 0.93 $ 0.87 $ 0.74 $ 0.80 $ 1.28 $ 1.86* $ 1.71* PAYROLL TAXES Nova Scotia has the lowest employer-paid payroll taxes and provincial health premiums in Canada. KPMG states that for a salary of $40,000 these deductions amount to 7.7% in Nova Scotia, significantly lower than the national average of $9.6%. A sampling of payroll taxes in Nova Scotia: Unemployment Insurance Canada Pension Plan Worker’s Compensation $1.40 per $100, maximum insurable earnings of $39,000 $1.95 per $100, maximum pensionable earnings of $37,500 Varies by occupation, depending on risk, ranging from $0.50 to $11.80 per $100. With the exception of construction occupations, averaging $6.02/$100, most occupations are below $3.00 per $100. Nil Health Care Premiums SALES TAX There is effectively no sales tax on businesses in Nova Scotia. Nova Scotia does use a harmonized federal-provincial sales tax at a rate of 15% and individuals and corporations pay that rate on most goods and services. However, corporations receive a full refund of paid taxes. The Antigonish Advantage - 34 BUSINESS REGISTRATION All organizations and individuals doing business in Nova Scotia must register with: Nova Scotia Registry of Joint Stock Companies 9th Floor, Maritime Centre 1505 Barrington St. Halifax, Nova Scotia Canada B3J 2Y4 Phone (902) 424-7770 (press 2 for assistance) The process of registering a business takes about one week and is inexpensive (approximately $335 U.S.). The process involves selecting one of the following types of business registration: > Limited Company > Partnership > Sole Proprietorship > Business Name on Behalf of a Company (if using a name other than the company’s legal name) > Extra-Provincial Company (All extra-provincial limited companies incorporated outside Nova Scotia are required to register in Nova Scotia if they wish to do business in the province) > Society (non-profit) Businesses must then complete the following three steps: ♦ Choose and reserve a business name (cost $50 U.S. or less) ♦ Register the business (cost $250 U.S. or less) ♦ Register the reserved name with that business (cost $35 U.S. or less) Finally, every business registered in Nova Scotia is required to appoint a Recognized Agent, an individual that may be contacted by the Registry to simplify procedures and to receive any writs, summons, process or notice on behalf of the company. This individual must be a resident of Nova Scotia. More information can be found at http://www.gov.ns.ca/snsmr The Antigonish Advantage - 35 Antigonish Business Support ACCOUNTING & AUDITING SERVICES F ederal and provincial securities impose certain financial disclosure requirements on public corporations, which offer shares to the public. Privately owned companies are not required to disclose financial information to the public. All companies incorporated under the Canadian Business Corporations Act, including private corporations, must file financial statements with Industry Canada’s Corporation Directorate. Several basic financial statements must be included in a company’s annual report. These include a balance sheet, income statement, a statement of retained earnings, a statement of changes in financial position and notes. Financial statements must be prepared in accordance with Generally Accepted Accounting Principles, which are set out in the handbook of the Canadian Institute of Chartered Accountants. Accountant International Firms Ernst & Young LLP Grant Thorton LLP KPMG LLP Price-Waterhouse Coopers Local Firms Draper, William B. Loosen, E. Normand MacInnis, Judy Moeller, David S. Sears, J. Mark Webster, Donald E. Woolaver, D.L. Antigonish Antigonish Antigonish Antigonish Antigonish Antigonish Antigonish (902) 863-6101 (902) 863-3443 (902) 863-5536 (902) 863-5554 (902) 863-2299 (902) 863-5241 (902) 863-3701 Halifax Antigonish Sydney/ Halifax Halifax (902) 420-1080 (902) 863-4587 (902) 492-6000 (902) 491-7400 Location Phone The Antigonish Advantage - 36 The Antigonish Advantage - 37 LOCAL LEGAL SERVICES Barristers/Solicitors Archibald, Robin Chisholm & Gillies Gorman & MacLaughlin Legal Aid (Nova Scotia) MacIntosh, James C. MacIsaac, Daniel J. MacPherson, MacNeil, MacDonald Meehan, William F. Address Antigonish Antigonish Antigonish Antigonish Antigonish Antigonish Antigonish Antigonish Phone (902) 863-0505 (902) 863-2900 (902) 863-2100 (902) 863-3350 (902) 863-4805 (902) 863-5398 (902) 863-2925 (902) 863-3136 FINANCIAL SERVICES Canada’s financial system provides stable and effective infrastructure for conducting business. An independent central bank administers an anti-inflationary monetary policy and expedites inter-bank operations. Chartered banks and trust companies provide deposit, credit and payment services. Stock exchanges and investment dealers handle securities sold to the public and insurance companies offer protection against a wide range of financial risks. There are many sources of funding available for businesses in Nova Scotia that are easily accessible in the Antigonish area. The following lists include the major debt and venture capital financing available in the area. CHARTERED BANKS - ANTIGONISH Bank Bergengren Credit Union Bergengren Credit Union Havre Boucher Credit Union Canadian Imperial Bank of Commerce Business Development Bank of Canada Royal Bank of Canada ScotiaBank Address Main St., Antigonish St. Andrews, Antigonish Co. Havre Boucher, Antigonish Co Main St., Antigonish Truro Main St., Antigonish Main St., Antigonish Phone (902) 863-6600 (902) 863-3877 (902) 234-2523 (902) 863-4740 (902) 895-6377 (902) 863-4411 (902) 863-4800 The Antigonish Advantage - 38 GOVERNMENT AND VENTURE FUNDING DEBT FINANCING Atlantic Canada Opportunities Agency (ACOA) Chris Storseth (Account Manager) Tel: 1-800-705-3929 or (902) 867-7379 http://www.acoa.ca VENTURE CAPITAL FINANCING InNovaCorp 101 Research Drive PO Box 790 Dartmouth, NS B2Y 3Z7 1-800-565-7051 Tel: (902) 424-8670 Ext.167 http://www.innovacorp.ns.ca Northern Opportunities for Business Limited (NOBL) Brian Patton (Business Analyst) Tel: (902) 863-3365 http://www.cbdc.ca ACF Equity Atlantic Inc. Purdy's Wharf Tower II, Suite 2106, Box 25 1969 Upper Water Street Halifax, NS B3J 3R7 Tel: (902) 492-5164 Toll free in Atlantic Canada 1-800-251-5331 Fax: (902) 421-1808 http://www.acf.ca E-mail: acf@acf.ca Nova Scotia Economic Development Antigonish Office Wilfred (Sonny) Alexander (Business Development Officer) Tel: (902) 863-7380 http://www.gov.ns.ca/ecor DRM Equities Tel: (902) 422-1100 Human Resources Development Canada Antigonish Office Tel: (902) 863-7069 http://www.ns.hrdc-drhc.gc.ca Working Venture Canadian Fund Inc. Suite 407, 1959 Upper Water Street Halifax, NS B3J 3N2 Tel: (902) 492-2292 Fax: (902) 492-1101 Business Development Bank of Canada Truro Office Tel: (902) 895-6377 No Charge: 1-888-463-6232 http://www.bdc.ca Northeastern Community Investments Inc. 20 St. Andrews St. Antigonish, NS B2G 2H1 Tel: (902) 863-3267 Fax: (902) 863-4095 http:// www.antigonishrda.ns.ca/ncii The Antigonish Advantage - 39 Antigonish Living ARTS, ENTERTAINMENT & CULTURE T he Antigonish area encompasses diverse and distinct cultures that shape its arts and entertainment. The area is home to Mi’kmaq First Nation communities, a thriving Acadian community and a strong Scottish heritage. The Town of Antigonish is designated as a full-service community and the major cultural centre for Antigonish County, with a downtown shopping district, a mall, art galleries and artists' studios, an 18-hole golf course, a variety of parks and recreation facilities and a Visitor Information Centre. St. Francis Xavier University houses a sports complex, which offers a swimming pool and sauna, a gym, a track, and tennis, racquetball and squash courts. Festival Antigonish, a summer-long theatre festival, presents plays, musicals and revues at the Bauer Theatre on the StFX campus during July and August. The Antigonish Heritage Museum, located in the former CN railway station on East Main Street, has local histories from 47 graveyards, books, photographs and artifacts. In mid-July the town hosts the Antigonish Highland Games, which have been staged annually since 1861. The games are the longest running consecutive Highland Games in North America. They feature the best in Scottish music, dance and sports. The ancient Scottish heavyweight sporting events, such as the caber toss, are a popular feature of the games. The estimated yearly spending by visitors to the town of Antigonish is $12-15 million (In Profile. The Economy of Antigonish County). This does not include the estimated yearly accommodation revenue of $4-5 million. There are 40,000 visitors per year to the town's tourist bureau. The Town of Antigonish is located at the intersection of the Marine Drive and Sunrise Trail Nova Scotia scenic drives. Other attractions in the county of Antigonish include smaller community festivals, Arisaig and Pomquet Provincial Parks, many beaches, hiking trails, an 18- The Antigonish Advantage - 40 hole golf course and others. The Antigonish Wildlife Management Area offers natural history tours of a wildlife sanctuary. If you enjoy hiking, The Fairmont Ridge Trail offers 12 km of well-marked walking circuits suitable for young children and aggressive hikers alike. There are great vistas of Antigonish Harbour, St. George's Bay and Cape Breton from numerous locations along the route. A key tourism advantage to the community is the proximity to Cape Breton, a primary provincial destination point. Yearly events associated with the university such as graduation and homecoming also serve to attract visitors. For more information, contact: Visitor Information Line 1-800-565-0000 Doers and Dreamers Guide http://explore.gov.ns.ca/virtualns/ SPORT AND RECREATION The Antigonish area is a sports and recreation mecca. The region offers a variety of recreational facilities including indoor swimming pools, lighted tennis courts, playgrounds and ball fields, skating arenas and curling clubs. Facilities are also available for those interested in sailing, hiking, downhill and cross-country skiing, snow mobiling, salt water and fresh water fishing, scuba diving and hockey. Golf enthusiasts can take advantage of the Antigonish Golf and Country Club or the nine-hole Fiddlers’ Green Golf Course. There are several other fine golf courses located within short driving distances. The warm waters of the Gulf of St. Lawrence attract many eager swimmers in the summer, while in the winter ice fishing enthusiasts swarm to the same waters. Winter enthusiasts also enjoy skiing, hiking, snow-mobiling and skating. For those who prefer less active recreation, five scenic trails are ready to explore on a leisurely afternoon drive. A network of provincial parks scattered throughout the area, as well as many natural areas, are perfect for picnics and hikes. The scenery is beautiful and the hospitality is warm. HEALTH & SAFETY SERVICES The Antigonish Advantage - 41 St. Martha’s Hospital, located in Antigonish, has 175 beds. As the area’s regional hospital, it offers full hospital services to surrounding communities. As well, it offers emergency services, outpatient services, and laboratory and clinical services. Policing for the area is provided through a local detachment of the Royal Canadian Mounted Police (RCMP). Numerous volunteer departments throughout the region provide fire protection. Training is mandatory for all volunteers and the fire fighting services are of a very high calibre. An Emergency Measures Organization is prepared to handle emergencies caused by natural, industrial or marine crises. HOUSING The Antigonish area offers a wide variety of housing options in the Town of Antigonish as well as in more rural settings in the county. Prices are attractive, with the average price for a detached bungalow in Antigonish at $105,000 ($68,000 U.S.). The following chart indicates prices for Antigonish housing compared to the rest of Canada. COMPARATIVE HOUSING COSTS Location Antigonish Halifax, NS Moncton, NB St. John's, Nfld. Charlottetown, PEI Toronto, Ont. Winnipeg, Man Calgary, Alta Vancouver, BC Detached Bungalow U.S.$ - CDN$ $ 68, 000 $ 83, 226 $ 105, 000 $ 129, 000 $ 80,350 $ 96, 000 $ 111, 000 $ 260, 000 $ 113, 000 $ 188, 000 $ 289, 000 Two-Storey U.S.$ - CDN$ $ 78, 000 $ 100, 000 $ 60, 000 $ 92, 258 $ 87, 098 $ 192, 258 $ 70, 323 $ 132,903 $ 195, 483 $ 120, 000 Executive 2-Storey U.S.$ - CDN$ $ 110, 500 $ 139, 355 $ 109, 677 $ 110, 967 $ 98, 709 $ 253, 548 $ 100, 645 $ 172, 258 $ 231, 613 $ 170, 000 $ 216, 000 $ 170, 000 - $ 155, 000 $ 93, 000 $ 143, 000 $ 135, 000 $ 51, 838 $ 61, 935 $ 71, 613 $ 167, 742 $ 72, 903 $ 121, 290 $ 186, 451 - - $ 172, 000 $ 153, 000 - $ 298, 700 $ 109, 000 $ 206,000 - $ 393, 700 - $ 156, 000 - $ 267, 000 - $ 359, 000 - $ 303, 000 Source: Royal LePage Canadian Home Price Survey, Prudential Realty The Antigonish Advantage - 42 Contacts Labour and the Economy Human Resources Development Canada Labour Market Information and Labour Programs http://www.ns.hrdc-drhc.gc.ca Statistics Canada 1-800-263-1136 http://www.statcan.ca Taxation Nova Scotia Department of Finance Tel: (902) 424-5554 http://www.gov.ns.ca/fina Canada Customs and Revenue Agency 1-800-959-5525 http://www.ccra-adrc.gc.ca Municipal Taxes Municipality of the County of Antigonish (902) 863-1117 http://www.antigonishcounty.ns.ca/ Town of Antigonish (902) 863-1312 Tax Incentives NS Department of Economic Development http://www.novascotiabusiness.com http://www.gov.ns.ca/ecor Antigonish Regional Development Authority (902) 863-3330 http://www.antigonishrda.ns.ca Business Costs KPMG Canada http://www.kpmg.com The Antigonish Advantage - 43 Payroll Taxes Human Resources Development Canada (902) 863-7069 http://www.ns.hrdc-drhc.gc.ca Worker's Compensation Board 1-800-870-3331 http://www.wcb.ns.ca Registering Your Business Nova Scotia Registry of Joint Stocks (902)424-7700 http://www.gov.ns.ca/snsmr/business/rjsc Power Rates Nova Scotia Power Inc. 1-800-428-6230 http://www.nspower.com Town of Antigonish – Power Utility Division (902) 863-2354 Water and Sewer Rates See Municipal Taxes Nova Scotia Department of the Environment & Labour http://www.gov.ns.ca/enla Phone Rates Maritime Telegraph and Telephone 1-800-992-5997 http://www.imgrowing.mtt.ca http://www.mtt.ca Natural Gas Rates Sable Offshore Energy Project (902) 496-4950 http://www.soep.com Transportation Infrastructure Antigonish Regional Development Authority (902) 863-3330 http://www.antigonishrda.ns.ca Department of Economic Development http://www.novascotiabusiness.com http://www.gov.ns.ca/ecor Halifax International Airport (902) 873-1234 http://www.hiaa.ca The Antigonish Advantage - 44 The Strait of Canso Superport (902) 747-2078 http://www.strait-highlands.ns.ca/superpor.htm Communications and IT NS Department of Economic Development http://www.novascotiabusiness.com http://www.gov.ns.ca/ecor Antigonish Regional Development Authority http://www.antigonishrda.ns.ca Maritime Tel & Tel http://www.imgrowing.mtt.ca Financing Antigonish Regional Development Authority http://www.antigonishrda.ns.ca Northeastern Community Investments Inc. http://www.antigonishrda.ns.ca/ncii Northern Opportunities for Business Ltd. http://www.nobl.cbdc.ca Atlantic Canada Opportunities Development Agency http://www.acoa-apeca.gc.ca NS Department of Economic Development http://www.novascotiabusiness.com http://www.gov.ns.ca/ecor Bergengren Credit Union http://www.bergengrencu.com Royal Bank of Canada http://www.royalbank.com Bank of Nova Scotia http://www.scotiabank.com Canadian Imperial Bank of Commerce http://www.cibc.com Business Development Bank of Canada http://www.bdc.ca The Antigonish Advantage - 45 Business Parks Antigonish Regional Development Authority http://www.antigonishrda.ns.ca Municipality of the County of Antigonish http://www.antigonishcounty.ns.ca NS Department of Economic Development http://www.novascotiabusiness.com http://www.gov.ns.ca/ecor Real Estate Century 21 Trident Realty Ltd. Highway 104 Lower South River, NS (902) 863-0668 century21@ns.sympatico.ca Mary-Pat Realties Ltd. 208 Main Street Antigonish, N.S. B2G 2B9 (902) 863-4824 marypatant@auracom.com Prudential Highland Properties 219 Main Street, Suite 104 Antigonish, N.S. B2G 2C1 (902) 863-1878 prudential@ns.sympatico.ca Sceles Realty Ltd. 143B Hawthorne Street Antigonish, N.S. B2G 1B2 (902) 863-1446 Land Information Services: Department of Housing and Municipal Affairs http://www.nsgc.gov.ns.ca Private List.Com http://www.privatelist.com Business Assistance NS Department of Economic Development http://www.novascotiabusiness.com http://www.gov.ns.ca/ecor Antigonish Regional Development Authority http://www.antigonishrda.ns.ca The Antigonish Advantage - 46 Education and R & D Strait Regional School Board (902) 625-2191 http://www.ednet.ns.ca/educ/boards/sb-strait Conseil Scolaire Acadien Provincial http://www.ressac.rpa.ca/csap Le College de L’Acadie (902) 226-9301 http://www.ccfne.ns.ca/english.htm Nova Scotia Community College http://www.nscc.ns.ca St. Francis Xavier University http://www.stfx.ca Labour Market Information Human Resources Development Canada http://www.ns.hrdc-drhc.gc.ca Quality of Life NS Department of the Environment and Labour http://www.gov.ns.ca/enla Antigonish Regional Development Authority http://www.antigonishrda.ns.ca Nova Scotia Doers and Dreamers Guide http://explore.gov.ns.ca/virtualns The Antigonish Advantage - 47