Industrial Estates Limited
Encyclopedia
Industrial Estates Limited (IEL) was a Crown corporation established by the Government of Nova Scotia
in 1963.
IEL stemmed from the Voluntary Planning Act, instituted by Premier Robert Stanfield
's administration in the same year. IEL began with a $23 million start-up investment from the government and received a mandate to build industrial parks and lease space to companies, though through an aggressive pursuit of outside investment.
IEL quickly began building and financing plants for companies that were willing to move to Nova Scotia
. Frank Sobey, the first president of the IEL was very effective in attracting new companies to the province, and by 1968, 60 firms had benefited from the program, producing 10,000 new jobs and $40 million in provincial revenue.
IEL was at its zenith during the 1960s as it played an important part in modernizing the province's economy; its influence declined significantly in the 1970s.
Government of Nova Scotia
The Government of Nova Scotia refers to the provincial government of the Canadian province of Nova Scotia. Its powers and structure are set out in the Constitution Act, 1867....
in 1963.
IEL stemmed from the Voluntary Planning Act, instituted by Premier Robert Stanfield
Robert Stanfield
Robert Lorne Stanfield, PC, QC was the 17th Premier of Nova Scotia and leader of the federal Progressive Conservative Party of Canada. He is sometimes referred to as "the greatest prime minister Canada never had", and earned the nickname "Honest Bob"...
's administration in the same year. IEL began with a $23 million start-up investment from the government and received a mandate to build industrial parks and lease space to companies, though through an aggressive pursuit of outside investment.
IEL quickly began building and financing plants for companies that were willing to move to Nova Scotia
Nova Scotia
Nova Scotia is one of Canada's three Maritime provinces and is the most populous province in Atlantic Canada. The name of the province is Latin for "New Scotland," but "Nova Scotia" is the recognized, English-language name of the province. The provincial capital is Halifax. Nova Scotia is the...
. Frank Sobey, the first president of the IEL was very effective in attracting new companies to the province, and by 1968, 60 firms had benefited from the program, producing 10,000 new jobs and $40 million in provincial revenue.
IEL was at its zenith during the 1960s as it played an important part in modernizing the province's economy; its influence declined significantly in the 1970s.