Economy
The urban area of Halifax Regional Municipality is a major economic centre in eastern Canada with a large concentration of government services and private sector companies. Halifax serves as the business, banking, government and cultural centre for the Maritime region. Major employers and economic generators include the Department of National Defence, as well as the Port of Halifax. The municipality has a growing concentration of manufacturing industries and is becoming a major multi-modal transportation hub through growth at the port, the Halifax Stanfield International Airport, and improving rail and highway connections. A real estate boom in recent years has led to numerous new property developments, including the gentrification of some former working-class areas.
Agriculture, fishing, mining, forestry and natural gas extraction are major resource industries found in the rural areas of HRM. HRM's largest agricultural district is in the Musquodoboit Valley; the total number of farms in HRM is 150, of which 110 are family-owned. Fishing harbours are located along all coastal areas with some having an independent harbour authority, and others being managed as small craft harbours under the federal Department of Fisheries and Oceans.
Other resource industries in HRM include the natural gas fields off the coast of Sable Island, as well as clay, shale, gold, limestone, and gypsum extraction in rural areas of the mainland portion of the municipality.
Read more about this topic: Halifax Regional Municipality
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)