text: **2014 Outlook**
  **Economic Growth Opportunities in Atlantic Canada**
  
  Large economic projects, either proposed or underway in Atlantic Canada, are expected to drive economic and population growth. Highlights 
  from the five largest projects are included below: 
  
  v Continued progress on the $25 billion Irving Shipbuilding project is expected to generate growth in Nova Scotia in 2014, 2015 and beyond. 
  Presently, Irving is investing approximately $350 million modernizing the Halifax Shipyard to begin cutting steel in 2015. 
  
  v The $7.8 billion Muskrat Falls hydro project is driving strong economic growth in Newfoundland and Labrador (“NL”) and recently the 
  $1.52 billion Maritime Link subsea cable designed to transport electricity from NL to Nova Scotia has been approved. 
  
  v Shell Canada has been awarded the exploration rights for eight parcels offshore Nova Scotia and has committed to spending more than 
  $1 billion exploring these parcels over the next six years. 
  
  v BP Exploration Company Ltd (“BP”) was awarded another four deep water parcels for a total exploration spending commitment of nearly 
  $1.1 billion over six years. This offshore oil activity has the potential for long‑term spending and employment opportunities in the region 
  depending on the results of the exploration activity over the coming years. 
  
  v The proposed Energy East Pipeline Project is positive economic news for the Saint John, New Brunswick market. 