Truro isn’t just a great place to live or visit, it’s also a great place to invest and build a business. Combined with a great central location on the Halifax to Moncton Growth Corridor, access to additional markets, proven industry sustainability, and the best competitive cost advantage location in Atlantic Canada (According to KPMG’s 2016 "Competitive Alternatives" study).
The Town of Truro is also one of the most attractive places in the country to develop a successful business, according to CFIB's 9th annual report (Entrepreneurial Communities: Canada’s top places to start and grow businesses in 2016). Truro placed in 32nd position this year, which represents the highest score in its history, thanks to a significant improvement in score (+7 points), and in rank (+42 places)!
The question is really... Why not?
Population Demographics and Growth
According to the most recent census in 2011, Truro and area is among the fastest growing regions in Nova Scotia. In 2011, the Town of Truro had a population of 12,059, representing a percentage change of 5.2% from 2001. Truro is the largest town and the major center of commercial activity in the County of Colchester. In 2011, the County of Colchester had a population of 50,970 which is 3.4% higher than in 2001.
The area has experienced positive growth since the mid-1990s. In terms of economic performance, the County of Colchester has traditionally had higher participation levels than most Nova Scotia counties, while generally enjoying lower unemployment rates. In 2011, the unemployment rate in Colchester County was 8.6% and the labour market participation rate was 63.6%. Provincially, the unemployment rate was 10% and the labour market participation rate was 63.1%.
For the most up to date information on the Population Demographics and Growth see Statistics Canada.
Transportation and Logistics Corridor
The Town of Truro’s prime location, and being the largest town along the Halifax to Moncton Growth Corridor, makes Truro the perfect place to locate and build your business.
The Halifax to Moncton Growth Corridor include six counties: Westmorland and Kent in New Brunswick and Cumberland, Colchester, Hants and Halifax counties in Nova Scotia. The vast majority of the population base within these six counties is located within a 20 km band along the major highway infrastructure connecting Greater Moncton with Greater Halifax. The population in the Corridor represents 39% of the population of New Brunswick and Nova Scotia.
Truro is known as the, “Hub of Nova Scotia”, because of its location at the junction of the Canadian National Railway which runs between Halifax and Montreal, as well as providing rail line access to northern and southern Nova Scotia. Truro’s VIA Railway Station is located in the Central Business District and is a major stop for a number of passenger trains. In addition, freight trains are of significant importance as rail line serves much of the Truro Business Park, and other commercial areas in the Town.
Truro is located just south of the major interchange that connects the Trans-Canada Highway to Highway #102. Highway #102 is a four lane expressway which connects the Trans-Canada Highway to Halifax and is the busiest highway in Atlantic Canada, with some points seeing upwards of 50,000 vehicles per day. Truro is easily accessible from a number of interchanges off of Highway #102 and the Trans-Canada Highway. In addition, a future interchange is planned just south of Interchange #13A at Hilden, NS, which will provide direct access to the Truro Business Park. The Trans-Canada Highway provides a direct route to New Brunswick and all points west, in addition to running north to Sydney, NS.
In addition to rail and roadways, Truro is located in close proximity to two International Airports. The Halifax Stanfield International Airport is located approximately 65 kms to the south of Truro, while the Greater Moncton International Airport is located approximately 160 kms to the north of Truro. Truro is also served by a smaller local airport which is located approximately 20 kms north of Truro in Debert, Colchester County.
The area is also close to several seaports, including the Port of Halifax which is one of the worlds largest natural harbours.
Education and Available Talent
Truro has a highly skilled workforce with 49% of Truro’s working population having a post-secondary degree, certificate or diploma. The Province has a total of 12 universities, 13 community college campuses, and 481 private and public schools.
The Town of Truro itself, has two public high schools, Cobequid Educational Centre and the francophone École acadienne de Truro, and two post-secondary institutions, a Nova Scotia Community College campus as well as the Institute of Human Services Education. In the adjacent village of Bible Hill, there is also the Agricultural Campus of Dalhousie University.
There are also seven of the other highly regarded universities within 100 km of the Town of Truro, all with unique programs and degree offerings.