Halifax Chamber of Commerce hears tips on growing economy

Atlantic Canada needs to do a lot more to grow its economy and the first step is keeping young professionals at home, a market research expert told members of Halifax's business community.

"Where are people going to go? They're going to go where economic opportunity exists, and the services are better and the taxation regime is better," Don Mills, chairman and CEO ofCorporate Research Associates, toldmembers of the Halifax Chamber of Commerce onThursday night.

Mills,who has 34 years of market research experience,laid out seven actions that he saidshould be taken to grow the economy.The first: keeping young people from moving away.

• StatsCan reveals Nova Scotia has highest senior-to-child ratio
• OPINION:The challenge of a stagnant population

He presented graphs reflecting the region's population growth in relation to the rest of Canada and saidby the year2030, therewill be 100,000 people in Nova Scotia who are 65 years old or older.

Mills said that means the province needs to find 70,000 workers in the next 15 years to offset the aging population.

"One of our biggest challenges in Nova Scotia and in this region is our stagnant and aging population, which really is the core of some of our problems," he said.

"I'm not worried about low unemployment in this region. What I'm worried about is that we won't have enough people to keep our weak economy going at the weak pace it is currently."

Mills was quick to point out that Halifax is thriving and the fourth fastest growing city in Canada, which he credits in part to Mayor Mike Savage.

The city has several major projects currently under construction, including a new convention centre.

Some business owners say while they hope to hire more young people, it remains a challenge to find good talent.

"I think ultimately he's trying to kick people in the ass a little bit, to just wake people up to the reality with some facts and that's always helpful," said Mathew Welsh, executive producer and owner of Journeyman Film Company.

"He tells us the stuff we need to be reminded of, over and over again, to realize where we're at."