Quinte Economic Development Commission. Presentation on Regional Economic Development

Transcription

1 Quinte Economic Development Commission Presentation on Regional Economic Development

2 AGENDA Quinte Economic Development Commission (QEDC) background Regional Economic Development Why / Benefits Key Success Factors What to look out for Multiple Agency Delivery Model Eastern Ontario Regional Cooperation Questions and Answers

3 Quinte Economic Development Commission Represents the municipalities of Brighton, Quinte West (Trenton) and Belleville Population approx. 103,000 between the 3 municipalities (greater region approx. 220,000) Strategic support to help companies grow more competitive and profitable Track record of delivering successful programs and attracting new industry Named one of Canada s top 10 Economic Development Agencies by Site Selection Magazine in 2008 and 2012

4 High Value Low Cost location

5 Quinte Economic Development Commission (QEDC) Mandate 1) To market the Bay of Quinte Region in order to attract new firms to the community 2) To encourage the growth and diversification of those industries now established in the area

6 Quinte Economic Development Commission QEDC established in 1994 (Trenton, Murray, Sidney, Frankford, and Brighton). City of Belleville joined in Representing: Belleville, Brighton and Quinte West Not-for-profit Corporation 3 staff plus 1 for Manufacturing Resource Centre Board appointments business leaders and political members Defined focus on manufacturing & technology sectors Municipal economic development still required Co-located at Loyalist College Pioneer building (QEDC, Trenval, BDC, Small Business Centre, OMAFRA, Bay of Quinte Tourism, Launch Lab, LTKC)

7 Food Processing A Growing Vibrant Cluster in the Bay of Quinte: Ontario s largest food processing centre east of Toronto Home to multi-nationals & specialty, local manufacturers More than 35 companies & growing Local Advantages Large volume water & sewer capacity Trenton Cold Storage, large 3 rd party frozen logistics company Support service companies (stainless steel fabricators)

8 Advanced Manufacturing A diverse group of innovative manufacturers Ontario s largest cluster of manufacturing east of Toronto Local Advantages : Supporting service companies in the area providing 4 Universities within an hour drive providing R&D support Local College providing a stream of well trained graduates and applied research capabilities. Strong manufacturing based workforce

9 Logistics A hub for distribution, warehousing & trucking industries, and an ideal location for manufacturers to access priority markets. Toronto, Ottawa & Montreal & U.S. Eastern seaboard are all within a day s drive Large parcels of investment ready land available at low costs Sites serviced by Canada s two main rail lines On Canada s main transportation artery HWY 401 Local companies take advantage of low cost shipping through port of Montreal

10 Aerospace, Defence & Security 8 Wing CFB Trenton is Canada s largest air force base Home to Canada s news fleet of transport aircraft $860M infrastructure expansion now underway A Natural Fit Talent pool retiring, highly skilled military members looking to stay in the area Municipal industrial park adjacent to the base Private sector aerospace opportunities in support of military operations Existing cluster providing collaboration, support and supply chain opportunities

11 Why focus on the Manufacturing Sector? Major driver of economic activity and employment in the Bay of Quinte Region (brings in new dollars versus recycling existing dollars) 3.25 Multiplier effect 85% of new product commercialization 75% of business sector R&D Today Manufacturing = state of the art technology, innovation, creativity and opportunities 1,000 new local jobs required in next 5 years

12 Local Manufacturing Sector Ontario s largest concentration of manufacturers East of the GTA. Diversified sector with clusters in food processing, automotive parts, advanced manufacturing Supported by local supply chain Employing over 11,000 workers in the greater region Taxation, employment, spending, community support

13 Targets for Investment Attraction Food Processing, Logistics, Advanced Manufacturing, Aerospace, Packaging and Plastics 2014 undergoing a new Target Market study to re-evaluate investment sector targets in manufacturing as well as technology related opportunities

14 Why QEDC Works In Our Region Identified regional economy Identified regional workforce Trends in workforce mobility Commute patterns Regional economic development Communities commission? have common priorities, opportunities, and targets Existing level of cooperation between member communities

15 Benefits of Regional Economic Development Business investors look at regional workforces, supply chain linkages, etc a regional approach leverages those assets Overcomes political boundaries Offers more options and critical mass to potential investors React quickly and adapt to challenges and opportunities Refreshing approach to clients Access to funding programs Cost savings

16 Key Success Factors Cooperation between municipal leadership / funders agree to the regional approach and believe that what is good for one community will benefit the others Ability to establish partnerships Clearly defined roles, responsibilities and focus Be part of the municipal team not another level of bureaucracy Trust

17 What to Look Out For Duplication of local economic development effort Don t forget who is the client Stay focused Need good communication Ability to access other non-economic municipal staff IT, engineers, planners Who is the contact person with the Province, site selector, etc. What name? Need to manage the corporation as well as deliver the services Insurance - HR issues Real Estate - IT etc. Does everyone really believe in it? The people are the key to make it work or not

18 Quinte Business Development Centre Multiple agency delivery model One-stop-shop for economic and business development. Shared services and resources (reception, photo copy, board room etc.) Municipally, provincially and federally funded organizations in one location. Client focused

19 Our Partners QEDC is co-located with Organizations Serving local business Trenval Community Futures Development Corporation (Federally funded local business development agency) Business Development Bank of Canada Ontario Ministry of Agriculture, Food & Rural Affairs Launch Lab Small Business Centre Loyalist Training & Knowledge Centre Manufacturing Resource Centre

20 Eastern Ontario Regional Cooperation Ontario East Economic Development Commission Strategic investment attraction partnership with communities across Eastern Ontario Pay-to-play model. Participate in sectors where a community has opportunities Food Processing Logistics Advanced Manufacturing Tourism investment Innovative Rural Communities Leverage Provincial and Federal funding dollars as well as other community investments Increase effectiveness and reduce costs

21 Our Community s Success New Company - Investment attraction Investment Existing industry expansions Manufacturing Resource Centre Manufacturing Funding Support Job Growth Rate QEDC Region 1.8% Ontario 1.4%

22 Bay of Quinte Living

23 Thank You Questions & Answers Chris King, C.E.O