I decided to start a thread for people to post economic news for the Maritime provinces(NS,NB,PEI.)

Last Updated: Monday, August 21, 2006 | 9:42 AM AT
CBC News

A small town in northern Nova Scotia is counting on a company that makes board games to jump-start the local economy with 1,500 new jobs.

Headz Gamez International, which produces sports-themed games, recently announced plans to move its offices to Parrsboro, on the northern shore of the Minas Basin.

The company has already begun to renovate the old post office and has secured 17 acres of land in the town's industrial park for a factory.

Bill Perry, the company's head of operations, said hundreds of applications are starting to pile up for the jobs, which start at $12 an hour.

"The people that we are getting calls from are actually the people that used to live in Parrsboro and now have the opportunity to move back, like myself," said Perry.

Headz Gamez president Kerry Martens has said he first fell in love with Parrsboro when he was a teenager stationed in Halifax with the navy.

In addition, Perry said the executives decided it would be cheaper to work out of the Nova Scotia town than the current headquarters in Richmond, B.C.

Headz Gamez is not looking for any government grants or tax breaks, he added.

Parrsboro Mayor Doug Robinson said the town is already feeling the buzz of the promise of 1,500 jobs over two years.

"We've always said that although we cannot drag a company here, what we can do is create an environment in Parrsboro which makes it good for a company to come here," Robinson said.

Parrsboro has a population of about 1,200. About 5,000 people live in the surrounding area.

Headz Gamez expects to have its factory ready by 2008.

http://www.cbc.ca/canada/nova-scotia/story/2006/08/21/parrsboro-gamez.html

I know I heard it on the news tonight that's great news especailly for that area of the province.

Anyone hear what's going on with Keltic Petrochemicals lately? Are they any furter along in the environemtal approval process?

Anyone hear what's going on with Keltic Petrochemicals lately? Are they any furter along in the environemtal approval process?

Im not sure. I'll keep a lookout for any news.

Gas retailers pumped about regulation



A gas-station owner in Nova Scotia who once denounced gas price regulation is now leading the charge in support of it.

Buns Kavanagh and 11 other gas retailers told reporters Wednesday that regulation is keeping their businesses alive.

"It's stability for the motoring public, and also for the rural communities," said Kavanagh, owner of Canso Garage.

The Nova Scotia government brought in regulation on July 11, saying pump prices would no longer fluctate from day to day and retailers would make a profit.

Eleven days after the new system went into effect, Kavanagh defied the rules and hiked the price at his pumps above the set amount.

He said he was losing money at the regulated price.

But now Kavanagh says he has figured out his options and his business has improved.

"[Local customers] are buying local, and it'll keep the stations alive."

Price set for 2 weeks

Under the system, the price of gas at the pumps is set for a two-week period. The price varies slightly across the province because the system factors in transportation costs.

The price also includes a retail margin between four and 5.5 cents per litre for self-serve gasoline, to a maximum of 7.5 cents for full-serve.

The Retail Gasoline Dealers Association of Nova Scotia says more than 80 gas stations have shut down in the past two years, and hopes regulation will help the remaining 451 stay open.

Graham Conrad, the association's executive director, said it has taken a while for members to understand the changes, but they see the benefits.

"The quiet majority who, up until now, have been working their way through this and who haven't really said very much publicly have agreed the time is right to come forward and set the record straight," he said.

Retailers have the option of continuing in their contracts and get the guaranteed profit under regulation, or sign a new deal with their wholesalers.

They have until October to make their decision.

Conrad said about one-third of the gas retailers in Nova Scotia have signed on to regulation.
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There is a reason why so many gas stations are going under...they are not profitable. With price regulation it just subsidizes rural areas that cannot sustain them. The money has to come from somewhere else.

Sydney housing market booming



Cape Bretoners who have made their money out West are helping to fuel a mini housing boom in Sydney.

Real estate agents in the Sydney area say they've never seen the market so hot.

"There's a demand and basically our supply is limited," said realtor Valerie Sampson, her phone ringing. "I can't believe how busy I am."

Jerry Dubinsky recently bought a condominium after selling his Sydney River home for a price much higher than he expected.

"It was very competitive," he said, "and I had 27 offers on my home."

Housing prices have jumped as much as 20 per cent over the past five years. The average home in Sydney now sells for about $77,000; in Cape Breton County it's $118,000.

Though high-end condominiums are going for almost $250,000, many prospective buyers say that's still a deal.

Joyce Doll, a Cape Breton native now living in Los Angeles, estimates a similar condo in her neighbourhood could sell for $1 million.

"I'm not quite ready yet to leave there and come back, especially last week with the rain," Doll said with a laugh.

But Sampson says many other Cape Bretoners out West are looking to cash in and return home.

"They're looking there at a 200 to 300 per cent profit and moving back to Cape Breton, buying a similar home and saving the balance of the money for travel or better quality of life," Sampson said.

http://www.cbc.ca/canada/nova-scotia/story/2006/09/08/sydney-housing.html

There was something in the Herald today (couldn't find it online) about General Dynamics building a new four-storey lab building in Cole Harbour, that'll employ a couple hundred people. :yes: