Northern Europe and Nova Scotia

I have talked a lot about Research in Motion and other investment projects into Nova Scotia lately but we shouldn’t forget the Europeans.

Last week, Swiss-based conglomerate Xstrata PLC agreed to partner on the development of the coal industry in Cape Breton and today, Petroplus International B.V., of The Netherlands and Keltic Petrochemicals Inc. announced the signing of a Memorandum of Understanding to advance development of the liquefied natural gas project at Goldboro, Nova Scotia.

Both these projects will mean hundreds of millions in foreign investment into Nova Scotia.

Don’t look now but Nova Scotia has quietly pulled away from New Brunswick on almost every economic indicator. And the several thousand jobs announced as a result of these mega projects in recent weeks should set the table for strong economic growth in 2006-2007.

Don’t worry. We are still ahead of Newfoundland and Labrador.