Grande dame Algonquin reopens doors

BRUCE ERSKINE BUSINESS REPORTER  berskine@herald.ca @CH_Br uceErskine New Brunswick’s landmark Al­gonquin Resort welcomed its first guest Thursday after a $30-million makeover. “To those of us who hail from this part of the country, the Al­gonquin is more than just a hotel, it is part of our heritage, our his­tory,” said Jim Spatz, chairman and chief executive officer of Southwest Properties in Hali­fax, in a news release Thursday. Southwest and resort operator New Castle Hotels & Resorts of Shelton, Conn., bought the Tudor-style Algonquin from the New Brunswick government in 2012 and did a complete refur­bishment of the iconic resort, established in 1889. “It’s where generations of Ca­nadians have come to…

Traves is right: Business incentive programs need independent scrutiny

BUSINESS COLUMNIST ROGER TAYLOR r taylor@herald.ca @CH_RogerTaylor Most Nova Scotians probably already knew it was a bad idea for the provincial cabinet to be solely in charge of the multimillion­dollar Jobs Fund. Some may have thought that allowing cabinet to maintain control of an important support program would mean that only friends of the government would gain access to assistance.  My concern was that politicians don’t always demonstrate great busi­ness acumen . It  was therefore no surprise to discover that Tom Traves is re­commending government create an independent authority, arm’s­length from cabinet, to manage Jobs Fund business investment decisions.

Committee okays changes to ease city centre development

MICHAEL LIGHTSTONE STAFF REPORTER mlightstone@herald.ca @CH_Lightstone A Halifax committee Thursday recommended council authoriz e planning and land-use changes to help with future development of the city’s regional centre. The project includes the devel­opment of uniform land-use and planning rules for the centre, a district encompassing peninsular Halifax and the area of Dart­mouth within the Circumferential Highway. Before regional council con­siders any proposed planning amendments, public consu ltation on the potential impact of such changes must occur.

The ‘two-speed economy’ effect

Outmigration of Nova Scotians won’t end anytime soon, Bank of Canada boss says BRUCE ERSKINE BUSINESS REPORTER - berskine@herald.ca @CH_BruceErskine Economic trends compelling young Nova Scotians to move west for work won’t change any time soon, says the governor of the Bank of Canada. “The migrations . . . are a product of that two-speed eco­nomy that I mentioned,” Stephen Poloz said at a news conference Tuesday after addressing a Hali­fax Chamber of Commerce lunch­eon . “Although there are energy economies in more than one place in Canada, the one in Alberta has a stronger force of gravity. “That two-speed economy, and the forces…