Halifax’s economy will grow more quickly this year than last in spite of a slowdown south of the border, a survey of the Canadian economy predicts.

The growth will be significant enough to boost the city to eighth place among 27 cities the Conference Board of Canada surveyed, up from 17th place…

Halifax will enjoy 2.8 per cent growth this year, up from 2.5 per cent last year. Nova Scotia’s economy will go to 2.2 per cent from 2.0 per cent last year…

This year, the economy will get a boost from an expanding construction industry, even through housing starts are expected to fall 22.6 per cent.

But two large projects in downtown Halifax ought to keep the construction business moving, the report says.

Ralph Medjuck’s Centennial Group has received regulatory approval for a $65-million hotel, condo and mall at the corner of Salter and Lower Water streets.

And United Gulf’s so-called Twisted Sisters development, a $150-million two tower project, has received regulatory approval.

“While neither project has a definite start date yet, it is likely at least one of these projects will begin in the next year or so…” the conference board report says.

Story by Stephen Maher, Ottawa Bureau
Article appeared in The Chronicle Herald
Tuesday, January 22, 2008

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