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Halifax · City guide · NS

Halifax: the full picture

Halifax is a 545,000-person government, university, health-care and port city that had the fastest population growth of any large Canadian metro in 2022-24 and then hit the brakes in 2025 when Ottawa cut non-permanent residents. Its next decade is being shaped by three big bets: the $22.2-billion first batch of River-class destroyers at Irving's Halifax Shipyard, a first offshore-wind licensing round, and a medtech-led rebound in startup funding after a bad 2024.

Halifax
544,834Halifax CMA population, July 1, 2025 (+1.6%, after +4.1% in 2024)2025-07-01 · Statistics Canada 17-10-0148-01
293,900Employed, Halifax CMA, 2025 annual average2025 · Statistics Canada 14-10-0461-01
5.5%Unemployment rate, 3-month moving average, seasonally adjusted2026-08 · Statistics Canada 14-10-0459-01
$30.3BGDP at basic prices, Halifax CMA2022 (released 2025-12-04) · Statistics Canada 36-10-0468-01
2.3%Real GDP growth 2025 (Halifax Index estimate, $26.9B in 2017 dollars)2025 · Halifax Index 2026
7,000Housing starts 2025 (record); Jan-Aug 2026: 3,060 vs 4,966 a year earlier2026-08 · Statistics Canada 34-10-0154-01 (CMHC)
502,000 TEUPort of Halifax containers 2025 (-1.4%)2025 · Inside Logistics
$22.2BCost to build and deliver first three River-class destroyers at Halifax Shipyard (excl. taxes); $8B initial contract2025-03-08 · Naval News
$162MVenture capital raised by Nova Scotia companies 2025 (Atlantic total $348M)2025 · Entrevestor / CVCA
77,800Public-sector employees, Halifax CMA (vs 187,000 private-sector)2025 · Statistics Canada 14-10-0468-01

01Scale: population surge, then a sharp slowdown

Statistics Canada puts the Halifax CMA at 544,834 people on July 1, 2025, up from 482,144 in 2021. Growth ran 3.3% in 2022, 3.5% in 2023 and 4.1% in 2024, then fell to 1.6% in 2025. The Halifax Partnership's Halifax Index 2026 records the municipality at 517,115 in 2025 (+1.5%) and attributes the slowdown to 'the significant decrease in non-permanent residents' after federal immigration policy changes; its 2027 strategy target of 525,000 now needs only 0.8% a year.

02Labour market: stable, health-care-led, public-sector heavy

In 2025 the Halifax CMA had a labour force of 311,300 and 293,900 employed, with unemployment at 5.6% (5.4% in 2023, 5.5% in 2024). The three-month moving average for August 2026 shows employment at 297,900 and unemployment at 5.5%. Health care and social assistance is now the largest employer at 43,500 (up from 40,800 in 2024), ahead of wholesale and retail trade (40,700), professional, scientific and technical services (28,700, up from 26,800), public administration (24,800) and construction (23,200). Public-sector employees number 77,800 against 187,000 private-sector employees; manufacturing (14,300, down from 15,200) and educational services (21,600, down from 22,800) both shrank.

03Output: GDP around $30 billion

Statistics Canada's most recent CMA-level figure puts Halifax GDP at basic prices at $30.3 billion for 2022 (released December 2025), up from $27.0 billion in 2021 and $24.4 billion in 2020. The Halifax Partnership's own estimate has real GDP at $26.9 billion (2017 dollars) in 2025, growing 2.3%, with real GDP per capita up 1.2%, which it says topped the ten benchmark cities in its Index.

04Defence and shipbuilding: the destroyer program

On March 8, 2025 Ottawa awarded Irving Shipbuilding an $8-billion (including taxes) implementation contract covering the first six years of building the River-class destroyers at Halifax Shipyard, and set the cost to build and deliver the first three ships (Fraser, Saint-Laurent, Mackenzie) at $22.2 billion excluding taxes. The government estimates the contract will create or maintain 5,250 jobs annually over 2025-2039 and contribute $719.3 million a year to GDP. Unifor MWF Local 1 represented 1,200 members at the shipyard at signing. Irving describes the yard as building both the Arctic and Offshore Patrol Ships and the River-class destroyers under the National Shipbuilding Strategy.

05The port: volumes drifting down

The Port of Halifax handled 502,000 TEUs in 2025, down 1.4% from 2024, with 8.6 million tonnes of total cargo and 106 calls by vessels over 12,000 TEU; Asia was 44% of trade and Europe 34%. That followed a 6.8% drop in 2024 to 509,273 TEUs, which the port blamed on the global geopolitical situation. Non-containerized cargo, including offshore-wind components, rose about 20% in 2024.

06Housing: record 2025 starts, 2026 falling back

CMHC data via Statistics Canada shows Halifax CMA housing starts of 4,805 in 2023, 5,081 in 2024 and a record 7,000 in 2025. Starts in January-August 2026 total 3,060, down from 4,966 in the same months of 2025, while 14,400 units were under construction in August 2026. The Halifax Index notes starts are increasingly multi-residential, vacancy rates rose again, but average apartment rents and home prices continued to rise.

07Startups and capital: medtech rebound, weak angels, zero NS VC in early 2026

CVCA data reported by Entrevestor shows Atlantic Canadian startups raised $348 million in venture capital in 2025, up from $176 million in 2024, with Nova Scotia at $162 million and Newfoundland at $163 million. Entrevestor's Halifax Index presentation (June 4, 2026) says 2024 was a low point (fewest new startups in five years, record failures, lowest funding in four years) and that 2025 funding was led by life sciences: ABK Biomedical $47.9 million, Sound Blade $23.8 million, Mara Renewables $12.6 million, Tenera $7.4 million. Halifax has 35 of Atlantic Canada's 66 'Elite' startups. Warning signs: regional angel funding fell to $13.2 million in 2024 from over $20 million a year before 2023, and Nova Scotia VC recorded so far in 2026 was $0 at the June presentation.

08Emera and Nova Scotia Power: a shrinking home base and a costly breach

Emera, headquartered in Halifax, reports $45 billion in assets, $8.8 billion in 2025 revenue, about 2.1 million customers and 6,800 employees (August 2026). Its Nova Scotia operations now represent only 19% of income; 80% of a new $20-billion five-year capital plan goes to Florida. Nova Scotia Power's Q3 2025 profit halved to $13 million from $26 million, with $6 million after-tax in year-to-date cyberattack costs, as the utility sought a 4% residential rate increase in each of the next two years (+$62 million revenue in 2026, +$108 million in 2027). The breach, discovered April 25, 2025 with access dating to March 19, exposed data of 'hundreds of thousands of current and former customers' including some SINs and bank account numbers; no ransom was paid, and a Nova Scotia Energy Board public hearing began August 18, 2026.

09Offshore wind: the first call for bids

On June 26, 2026 the Canada-Nova Scotia Offshore Energy Regulator released the list of companies pre-qualified for Nova Scotia's first offshore wind call for bids, which the Premier said will open later in 2026. The federal Major Projects Office describes Wind West as a concept to connect more than 60 gigawatts of Nova Scotia wind potential to market via new transmission, alongside the 160-km Wasoqonatl intertie to New Brunswick (about 587 jobs, $105 million GDP) and $25 million in February 2026 federal funding for the 184.5 MW Mersey River wind farm.

AnchorsThe companies and institutions that set demand here

Emera Inc.

Halifax-headquartered energy holding company: Tampa Electric, Peoples Gas, Nova Scotia Power, Emera Newfoundland & Labrador, Emera New Brunswick, Emera Caribbean; $45B assets, $8.8B 2025 revenue, ~2.1M customers.

The city's only large TSX-listed head office, but Nova Scotia is now just 19% of its income and its capital plan is 80% Florida.

6,800 (August 2026)

Emera, About us

Nova Scotia Power

Emera's provincial electric utility; 2025 capital investment about $700M; seeking 4% residential rate increases in 2026 and 2027.

Rate case and the 2025 cyberattack (hundreds of thousands of customers' data) dominate the province's energy politics.

Halifax Examiner

Irving Shipbuilding (Halifax Shipyard)

Builder of the Arctic and Offshore Patrol Ships and the River-class destroyers under the National Shipbuilding Strategy.

The $22.2B first-three-ship program is expected to create or maintain 5,250 jobs a year through 2039; Unifor Local 1 had 1,200 members at signing.

1,200 Unifor members (March 2025); total headcount not verified

Naval News / Unifor

Dalhousie University

21,000 students; describes itself as one of Canada's top 15 research-intensive universities; home of the Emera ideaHUB engineering incubator.

The research and talent base for the ocean, health and engineering clusters.

Dalhousie University, About

EcosystemWho helps a business start and grow

Halifax Partnership

Public agency

Halifax's public-private economic development organization, 30 years old, 100+ investors; publishes the annual Halifax Index and says it helped 89 companies locate or expand in HRM since 2019 (7,600 expected jobs).

halifaxpartnership.com/about-us ↗

Volta

Accelerator

Now positions itself as 'Atlantic Canada's AI-first hub in Halifax': community events and space, an AI Residency for founders, and an AI Productivity Lab for SMEs.

voltaeffect.com ↗

Propel

Accelerator

Atlantic Canada's virtual e-accelerator and course provider for tech startups.

propelict.com ↗

SectorsWhere the jobs are

  • Health care and social assistanceLargest employer at 43,500 in 2025, up from 40,800; 'jumps to top spot' per the Halifax Index.Statistics Canada 14-10-0468-01
  • Public administration and defence24,800 in public administration; 77,800 public-sector employees overall; the destroyer program adds an estimated 5,250 jobs a year to 2039.Statistics Canada 14-10-0468-01 / Naval News
  • Professional, scientific and technical services28,700 in 2025, up from 26,800; the fastest-growing private-sector category.Statistics Canada 14-10-0468-01
  • Ocean technologyAnchored by COVE (700+ organizations), Dalhousie research and the Ocean Supercluster; port cargo also includes offshore-wind components.COVE
  • Life sciences / medtechLed 2025 startup funding: ABK Biomedical $47.9M, Sound Blade $23.8M, Mara Renewables $12.6M.Entrevestor 2025 Startup Data Presentation
  • Construction and real estate23,200 construction jobs; 14,400 units under construction in August 2026 after record 7,000 starts in 2025, but 2026 starts are running 38% below 2025.Statistics Canada 34-10-0154-01
  • Port and logisticsTransportation and warehousing 14,900 jobs; container volumes fell in both 2024 (-6.8%) and 2025 (-1.4%).Inside Logistics
  • Manufacturing (weak)14,300 jobs in 2025, down from 15,200; educational services also fell (21,600 from 22,800).Statistics Canada 14-10-0468-01

WatchWhat changes the picture next

  • River-class destroyer ramp at Halifax Shipyard

    Construction runs 2025-2039 on a $22.2B first tranche; hiring and supplier demand will set the tone for trades wages and industrial land in Dartmouth.

  • First offshore wind call for bids (late 2026)

    Pre-qualified bidders were named June 26, 2026; Wind West targets 60+ GW of potential but depends on new transmission that does not yet exist.

  • Nova Scotia Power rate case and cyberattack fallout

    4% residential increases sought for 2026 and 2027; Energy Board hearing began August 18, 2026; NS Power earning below its 9% allowed ROE.

  • Immigration cuts and population growth

    CMA growth fell from 4.1% (2024) to 1.6% (2025) on the drop in non-permanent residents; rental demand, retail and university revenue all key off this.

  • Housing starts rolling over

    Jan-Aug 2026 starts of 3,060 are 38% below the same period of 2025, even as 14,400 units remain under construction and rents keep rising.

  • Early-stage capital drought

    Atlantic angel funding fell to $13.2M in 2024 and Nova Scotia VC was $0 through the first months of 2026 per Entrevestor, despite the strong 2025 total.

Not verifiedWhat we could not confirm

  • Emera's TSX ticker symbol (not stated on the fetched About page; left null).
  • Total current Halifax Shipyard headcount beyond Unifor's 1,200 members (March 2025).
  • Halifax CMA GDP for 2023 or later from Statistics Canada (table 36-10-0468-01 ends at 2022).
  • Port of Halifax cruise passenger numbers and the port's own economic-impact study (portofhalifax.ca returned 403).
  • Specific counts of non-permanent residents or immigrant landings for Halifax (only the direction of change was verified).
  • Halifax Index 2026 rent, vacancy-rate and business-count figures (the presentation PDF contains slide titles only).
  • Nautel (site returned 403), Proposify HQ (about/careers pages 404), Kinduct's fate, Introhive, Sona Nanotech, ReelData and MetOcean status.
  • Volta's reorganisation history (its site describes only current programs).
  • Nova Scotia First Fund size and Invest Nova Scotia portfolio figures.
  • BDC Atlantic activity and named angel groups.
  • Saint Mary's University, NSCC, IWK and QEII employment or student figures.
  • Total cargo tonnage at the port (sources gave 4.8M tonnes for 2024 and 8.6M for 2025, which appear to be different measures).