2012 Predictions Continued

Innovation to a Contact Centre: 2012 Predictions Continued

By Keith MacDonald, Executive Director, Cape Breton Partnership

Last week’s column outlined four predictions for the top twelve business news makers in 2012. Growth in Eskasoni, new port development, Cabot Links Canadian rankings and the Tourism levy were all highlighted.

This week four additional predictions are being featured, starting with:

5) The contact industry in Cape Breton suffered some set-backs in 2011. Spiegel closed operations and HP shrank its workforce by 175. On the positive side, Stream Global Services continued to grow and diversify. The company located in Glace Bay has just fewer than 800 employees of which close to 70 are in a wide range of support services. Stream celebrated 10 years of operations in Cape Breton this past October with the company receiving support subsidies for just the first couple of years. The company contributes approximately $22-23 million in direct wages annually into the Cape Breton economy. 2012 will see Stream continue to grow and add new business lines, while maintaining the company’s position as one of the largest private sector employees in Cape Breton.

6) Innovacorp’s I-3 contest has again been successful in drawing out new innovation-based ventures. The I-3 business case competition received over 20 Cape Breton based submissions with Blackrock Electronics, Envidity Inc., J& K Scientific Inc., MediaSpark Inc. and Synergy Memory Solutions all listed as the top five regional contenders. With the success of past I-3 participants including Halifax Biomedical, Marcato Digital Solutions, Stack-A-Buoy, Billdidit and Health Outcomes Worldwide, the current 1-3 finalists should all be making headlines in 2012 as they turn their innovative new business ideas into reality.

7) Cape Breton University continues to grow in the number of international students attending the University. With more than 600 students from close to 50 countries attending CBU last year, the University has gained national recognition as an educational institution that attracts and retains international students. These students arriving from abroad to live and study in Cape Breton are having a significant economic impact. They are spending money on rent, cars, groceries, entertainment and of course tuition. With CBU strengthening the institutions connecting in China, Egypt and Saudi Arabia, 2012 will see the continued increase in the numbers of international students making their home in Cape Breton.

8) The NewPage Port Hawkesbury deal is now moving forward with Pacific West Commercial Corp. selected as the successful bidder. This is a good first step in bringing the mill back into operation. There are many significant steps that still have to take place in order to finalize the sale. A new labour agreement, a new fibre supply agreement and municipal tax negotiations with Richmond County are just three of the many next-steps that will have to be worked out over the coming months. The details surrounding the completion of the NewPage Port Hawkesbury purchase agreement will certainly continue to make headlines in 2012.

Next week’s column will list the final 4 predictions for 2012. After that the crystal ball will be put away and the focus of the column will shift back to discussing activities around Cape Breton that are currently affecting business and the economy.