A report carried out by respected Halifax-based consulting firm Gardner Pinfold states that the economic impact of the NS-USA ferry is province wide; that the loss of US tourism traffic in 2010 can be directly related to the ferry closure; that a business case can be made by attracting 35% of the 2002 passenger carryings; that the termination of the ferry took $16.3M in direct expenditures from the NS economy and the equivalent of 260 full-time jobs.
Their findings indicate that a business case can be made for a Yarmouth to Portland, Maine service under the following conditions:
- The service is tourism-focused
- The service is seasonal
- The service deploys a cruise-type ferry
- The service is effectively marketed
- The service benefits from the US economy growing as projected
Its restoration, the report found, would have clearly defined benefits suggesting:
- That a revived ferry service will reverse the negative economic impact the region has suffered
- That the positive impact will be felt throughout the region as soon as the service begins
- That the revived Yarmouth to US ferry service will generate $16.3M in tourism spending
- That the impact of the ferry service extends beyond Yarmouth to the whole province
- That the service contributes to provincial and municipal tax revenues
- That the 2010 drop in US tourism can be directly linked to the ferry service
In brief, the Gardner Pinfold Study clearly supports the contention that, properly structured and conducted, a seasonal international ferry operation between Nova Scotia and the United states would be a financially viable operation that would contribute millions of dollars to the provincial economy.
For full report click here.