N.S. combines five economic development agencies into two new Crown corporations

·1 min read

HALIFAX — The Nova Scotia government is combining five economic agencies with annual budgets totalling $100 million into two new Crown corporations.

Premier Tim Houston says the change will streamline operations and make the government more accountable for economic development decisions.

Nova Scotia Lands, Harbourside Commercial Park Inc., and Develop Nova Scotia will be absorbed by a new Crown corporation to be known as Build Nova Scotia.

Nova Scotia Business Inc. and Innovacorp will become part of a new Crown corporation called Invest Nova Scotia.

The government says the CEOs of Innovacorp, Nova Scotia Business Inc., and Develop Nova Scotia will be let go with severance, but it's unclear if more job losses will follow.

Houston says he has picked veteran businessmen Wayne Crowley and Tom Hickey to oversee the transition at Build Nova Scotia and Invest Nova Scotia, respectively, until new CEOs can be recruited.

Build Nova Scotia will assume responsibility for the estimated $2-billion redevelopment of the Queen Elizabeth II Health Sciences Centre in Halifax.

Another change will see the staff and operations of the Nova Scotia Gaming Corporation integrated into the Department of Finance and Treasury Board, while Houston confirmed that work is continuing on improving the governance structure at the Art Gallery of Nova Scotia.

Houston said legislation will be introduced this fall to reflect the changes to the boards and agencies.

This report by The Canadian Press was first published July 26, 2022.

The Canadian Press

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