Wednesday, June 26, 2024
Downtown Halifax Business Commission releases 2024 ‘State of the Downtown’ report
Kjipuktuk, N.S. – Downtown Halifax Business Commission (DHBC) released the second installment of the (now annual) State of the Downtown (SOTD) report today at their Annual General Meeting (AGM.) Held at the Discovery Centre’s Dome Theatre, DHBC’s 2024 AGM was an overview of the year’s many accomplishments, splashed with excitement for the future.
“After a successful launch of Downtown Halifax Vision 2030 earlier this month, the State of the Downtown is now our yearly report card, highlighting the key areas that need attention and improvement,” says DHBC’s CEO, Paul MacKinnon. “DHBC has worked hard to become the go-to resource for all things Downtown, and providing data driven reports like this, assures our members, stakeholders and partners that our opinions and actions are based on research and evidence.”
The SOTD report, produced by DHBC, covers key metrics that are crucial to understanding the current state of vitality in Halifax’s urban core. Highlights from the 2024 SOTD include:
- Total revenue for all Downtown Halifax businesses was $8.3 BILLION, representing 21.1% of all Halifax Regional Municipality (HRM) sales.
- Of that, $389M came from Downtown Halifax ground floor businesses. Annual sales growth in ground floor sectors outperformed the whole city by 3.4%.
- The industry that Downtown Halifax is probably best known for, food & drink, stayed strong, adding to their employment base, and increasing sales by $4M.
- According to the University of Toronto’s School of Cities study that measures the recovery of downtowns, the average growth in total visitation over the past year in Downtown Halifax ranked #1 in Canada, and #2 in North America.
- Despite significant construction, Downtown’s overall assessment remained flat, while HRM’s total assessment has risen 21% since 2020.
“Through use of this data, we hope to empower policymakers, inform investors, and generate greater interest in the revitalization of Downtown Halifax, as we begin realizing the aspirations for Downtown Halifax Vision 2030,” says MacKinnon.
To view DHBC’s 2024 ‘State of the Downtown’ along with other reports and data visit, downtownhalifax.ca/dataandreporting
Click here to view the full 2024 State of the Downtown report in ISSU
Highlights from the 2024 SOTD Report
