The economic value of the Nova Scotia ocean sector : Valeur économique du secteur de l'océan en Nouvelle-Écosse

By improving our understanding of the role of the ocean in the economy, decision-makers are placed in a stronger position to develop sound policies aimed at protecting the marine environment, supporting sustainable activities and communities, and providing leadership in ocean stewardship. [...] During the development of an oil and gas project and in the early years of its operation, employment and household income account for most of the economic impact. [...] Gardner Pinfold Economic Value of the Ocean Sector in Nova Scotia iii The summary of impacts shown in Figures S-2 to S-4 provides interesting insights into the relative importance of activities, and also about differences in the nature of activities and at what point – direct or spinoff – they create their impacts. [...] This reflects the current dominance of returns to and of capital and the limited activity occurring in the economy during the offshore production phase. [...] Within this broad objective are four specific objectives: • Describe and quantify the various activities comprising the Nova Scotia ocean economy; • Estimate in a consistent manner the direct and spinoff benefits to Nova Scotia’s economy of each component of the ocean economy; • Discuss each component of the oceans sector in an Atlantic Provinces context; and • Estimate the growth potential, inclu