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August 18

CBJ August 2018

Economic growth is largely pinned on what Canada is able to export to other nations. Over the past few months there has been rampant speculation as to whether U.S. President Donald Trump will create an all-out trade war with Canada as he seeks greater protectionism for American workers. Without a doubt, having tariffs slapped on our products that are earmarked for use south of the border will have a negative impact on our economy. But is there anything this country can do to mitigate some of those negatives? The answer is a resounding ‘yes’ and you can read what they are in this month’s cover story.

Nova Scotia: a beautiful eastern province that combines a great quality of life, with excellent job opportunities and a fantastic region to set up roots. It’s great to hear that Nova Scotia is spending $6 million to upgrade some of its vital tourism attractions. Among those sites to be given a facelift include Peggy’s Cove and the Cabot Trail. About 2.4 million people visited Nova Scotia in 2017, an increase of 9% from the year earlier. The Tourism Department estimates visitors spent $2.7 billion in the province last year. If you haven’t been – I highly recommend it.

Jeff Bezos is the richest man in the world and the company he founded in his Seattle basement in 1994 may soon be the most valuable enterprise as well. Bezos, who has an estimated net worth of $150 billion, has seen the value of Amazon.com increase to a stock market value of $900 billion. Amazon is opening a new fulfillment centre in Caledon, Ont. that will create more than 800 full-time jobs. If the company grows much more — at least on paper — it will have a greater market capitalization than the world’s largest company Apple Inc., which is currently valued at about $935 billion on Wall Street.

It may come as a surprise to many people, but until recently there were three Blockbuster video stores still in existence. However, that number is now down to one sole survivor after two stores in Alaska threw in the towel. That leaves just one location in the entire U.S., in Bend, Oregon. Believe it or not, it’s actually doing quite well, probably due to nostalgic and tourism curiosity.

Did you know?… At its peak there were 9,000 Blockbuster locations worldwide with 84,000 employees. The last of the Canadian locations went out of business at the end of 2011.

Angus Gillespie
angus@cbj.ca
@CanBizJournal

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CBJ September 2018