2/22/ Strategic Plan. Central Okanagan Economic Development Commission 2012 COEDC ADVISORY BOARD EXECUTIVE: Okanagan

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1 2/22/ Strategic Plan Central Okanagan Economic Development Commission 2012 COEDC ADVISORY BOARD EXECUTIVE: Renee Wasylyk, CHAIR Alison Yesilcimen, Vice CHAIR Mike Gilmore, Past CHAIR Jim Paterson Paul Maarschalk Larry Widmer Heather Schneider Troika Development Inc. MediaCooler Inc BDO Dunwoody LLP City of Kelowna Solomon Resources Ltd Community Futures Central Okanagan Okanagan College 1

2 2/22/ COEDC ADVISORY BOARD OF DIRECTORS Directors appointed from local government: City of Kelowna Jim Paterson, GM Community Sustainability City of Kelowna Gail Given, Councillor District of Lake Country Alberto De Feo, CAO District of Lake Country Jamie McEwan, Councillor District of Lake Country Mark Koch, Development Services Manger District of Peachland Elsie Lemke, Administrator District of Peachland Peter Schierbeck, Councillor District of West Kelowna John Perrott, Business Development Officer District of West Kelowna Gord Milsom, Councillor Regional District of Central Okanagan Patty Hanson, Director Westbank First Nation Jayne Fosbery, Economic Development Directors appointed from partner organizations: Accelerate Okanagan Jeff Keen Business Development Bank of Canada Martine Hickman Community Futures Development Corp Bill Morrison Chamber of Commerce Kelowna David Bond Chamber of Commerce Lake Country Marvin Farkas Chamber of Commerce Peachland Rob Campbell Chamber Commerce Westbank & District Al Davies Kelowna International Airport Sam Samaddar Okanagan College Heather Schneider Tourism Kelowna Brad Sieben UBC Okanagan TBD Women s Enterprise Centre Laurel Douglas 2012 COEDC ADVISORY BOARD OF DIRECTORS Directors representing the local business community: Martin Cronin Bradley Cronquist Ched Gaglardi Doug Gallagher Sheldon Gardiner Mike Gilmore Ron Labossiere Tony Lewis Paul Maarschalk Sharen Marteny Victor Narynskyyi Dustin Sargent Roger Sellick Sara Shaak Domenic Vinci Renee Wasylyk Peter Withers Alison Yesilcimen Helios Global Tracking Pushor Mitchell LLP Beelineweb.com Peller Estates Entrepreneur BDO Dunwoody LLP Labossiere & Company Vibrant Vines Vineyard Solomon Resources Limited Seniors Consulting Centro Consulting Inc Davara Enterprises Ltd InterVISTAS Consulting Inc Arrowleaf Entertainment Properties Interior Savings Credit Union Troika Development Inc Withers Development Associates MediaCooler Innovations Inc 2

3 2/22/2012 Trends no change Population Kelowna CMA Labour Force Participation Rate Kelowna Unemployment Rate (December) Tourism Room Revenue (Q3) EI Claimants (Nov) Bankruptcies Business (Q3) Bankruptcies Consumer (Q3) Incorporations Business Licenses Central Okanagan Building Permit Values Central Okanagan Strategic Imperatives Demographic Shift Worldwide rapid decline in birthrates, influencing an irreplaceable loss of millions of producers and consumers who otherwise would be participating and supporting today's global economy The Race for Human Capital In order to meet the future needs of economy there is global race to attract of young families Quality of Place The climate, housing choices, natural physical attributes of the landscape like the lake and vineyards and our ties to the land are all key factors in taking quality of life from a theoretical to actual level 3

4 2/22/2012 Investment Attraction location independent entrepreneurs & the recruitment of families Facilitation making it easier to successfully grow a business in the Central Okanagan Business Retention & Expansion Most effective way to create sustainable economic growth Program Areas Film Commission Family Attraction 68 Partnerships Communication Social Media, Newsletter, Data, Web updates Valley Wide Initiatives Profiles, Site Selection Toolkit Workforce Development Site Visitation Sector Specialists 17,000+ inquires 4

5 2/22/ Site Visits to Okanagan companies 100 companies attended 25 Agriculture Site visits 112 Presentations 1:1 Export Development assistance provided to 30 Okanagan companies Agriculture Incubants 2011 Highlights 3 Business PNP s 175 Skilled Labour Okanagan Young Professionals Farms to Tourism Status Business Walks Economic Summit Entrepreneur Recruitment New in

6 2/22/2012 Need More Information? Central Okanagan Economic Development Commission (250) Robert Fine (250) Corie Griffiths (250)

7 2012 Strategic Plan Central Okanagan Economic Development Commission 1/1/2012

8 The Central Okanagan Economic Development Commission (COEDC) is an agency of the Regional District of Central Okanagan (RDCO). The Commission is funded by and accountable to the elected board of the RDCO. The 2012 COEDC Strategic Plan was developed based on information gathered during September 2011 Industry Roundtable Discussions where over 65 representatives from a cross section of industries provided advantages, barriers and opportunities to support growth of their industries, hundreds of oneon one site visits conducted by COEDC staff and specialized contractors in 2010 & 2011, Industry Reports and direction provided by the Commission s Advisory Board of Directors. The Central Okanagan boasts the highest per capita number of entrepreneurs in British Columbia (CFIB October 2011); the Region s entrepreneurial spirit and creative business environment is the backbone of the region s economy. "A prosperous region, where smart growth complements its natural resources and amenities embracing new global economic and social change." 2

9 EXECUTIVE SUMMARY The 2012 Strategic Plan outlines the Commission s activities within three program areas Business Retention & Enhancement, Investment Attraction and Economic Development Facilitation. The COEDC s Advisory Board consists of appointees from industry, collaborative organizations and local government. Board members provide a valuable linkage to the business community; they provide valuable input as to the state of their industries and advisement to staff of the Central Okanagan Economic Development Commission. Through the strategic planning process, industry leaders and Central Okanagan representatives who comprise the Advisory Board have recognized how the Commission s emphasis on Business Retention & Enhancement, Investment Attraction and Economic Development Facilitation are the most strategic approach to facilitate economic prosperity in the Region. The 2012 COEDC Strategic Plan was developed based on information gathered during Industry Roundtable Discussions where over 60 representatives from a cross section of industries provided project ideas to address advantages, barriers and opportunities to support growth of their industries. In addition to these roundtables COEDC s 2012 projects sought information provided at over 200 business site visits conducted in 2011, Economic data and growth trends, as well as, direction provided by the Commission s Advisory Board of Directors. ROLE OF THE COEDC ADVISORY BOARD OF DIRECTORS Advisory Board Members consist of representatives of local government, business organizations, chambers of commerce and specific sectors (i.e. Agriculture, Advance Manufacturing, Professional Services, Construction & Development, Technology, Tourism) who communicate to the Commission and other members of the Board industry specific information. This information helps to create programs and initiatives to further enhance the operations of Central Okanagan businesses. Role of an Advisory Board Member: Report on industry happenings within their sector Provide local knowledge, direction and expertise during the planning and implementation of the COEDC s programs Opportunity to contribute to the strategic vision of the COEDC Advisory board member only (not operational board) and is not legally responsible for decisions or actions of the COEDC 3

10 The Advisory Board does not make definitive decisions about operational structure or direction of COEDC, advise staff only In consultation with staff, recommendations are made about the strategic business plan and the budget of the COEDC which is then put forward to the regional district board for their budgetary decision process Do not partake in hiring and firing of staff Do not set the budget, not accountable for budgetary decisions Advisory Board consists of ex officio organizations, appointees of local government and industry representatives Request active involvement, attendance at meetings, COEDC representation in the community,, provide relevant and timely information for staff from your area of representation to assist staff in daily activities Not a lobbyist organization, resist situations where asked to endorse a political solution or choice, we can become involved in a process by supporting the work of the lobby agencies (chambers etc) 2012 COEDC ADVISORY BOARD OF DIRECTORS Executive: Mike Gilmore, Past Chair Renee Wasylyk, Chair Alison Yesilcimen, Vice Chair Jim Paterson Paul Maarschalk Larry Widmer Heather Schneider BDO Dunwoody LLP Troika Development Inc MediaCooler Innovations Inc City of Kelowna Solomon Resources Ltd Community Futures Central Okanagan Okanagan College Directors appointed from local government: City of Kelowna City of Kelowna District of Lake Country District of Lake Country District of Lake Country District of Peachland District of Peachland District of West Kelowna District of West Kelowna Regional District of Central Okanagan Westbank First Nation Jim Paterson, GM Community Sustainability Gail Given, Councillor Alberto De Feo, CAO Jamie McEwan, Councillor Mark Koch, Development Services Manager Elsie Lemke, Administrator Peter Schierbeck, Councillor John Perrott, Business Development Officer Gord Milsom, Councillor Patty Hanson, Director Jayne Fosbery, Economic Development 4

11 Directors appointed from partner organizations: Accelerate Okanagan Jeff Keen Business Development Bank of Canada Martine Hickman Community Futures Development Corp Bill Morrison Community Futures Development Corp Larry Widmer Chamber of Commerce Kelowna David Bond Chamber of Commerce Lake Country William Clark Chamber of Commerce Peachland Rob Campbell Chamber Commerce Westbank & District Al Davies Kelowna International Airport Sam Samaddar Okanagan College Heather Schneider Tourism Kelowna Brad Sieben UBC Okanagan TBD Women s Enterprise Centre Laurel Douglas Directors representing the local business community: Martin Cronin Helios Global Tracking Bradley Cronquist Pushor Mitchell LLP Ched Gaglardi Beelineweb.com Doug Gallagher Peller Estates Sheldon Gardiner Entrepreneur Mike Gilmore BDO Dunwoody LLP Ron Labossiere Labossiere & Company Tony Lewis Vibrant Vines Vineyard Paul Maarschalk Solomon Resources Limited Sharen Marteny Seniors Consulting Victor Narynskyyi Centro Consulting Inc Dustin Sargent Davara Enterprises Ltd Roger Sellick InterVISTAS Consulting Inc Sara Shaak Arrowleaf Entertainment Properties Domenic Vinci Interior Savings Credit Union Renee Wasylyk Troika Development Inc Peter Withers Withers Development Associates Alison Yesilcimen MediaCooler Innovations Inc 5

12 STRATEGIC IMPERATIVES Demographic Shift Canada, British Columbia and the Okanagan Valley are going through a significant shift in demographics that act as both a catalyst for societal change, but also creating significant long term challenges to our economic future. The phrase "demographic winter" has been used to describe the current global economic challenges. It refers to the worldwide rapid decline in birthrates, influencing an irreplaceable loss of millions of producers and consumers who otherwise would be participating and supporting today's global economy. British Columbia has the lowest fertility rates in Canada, and the Okanagan the lowest in the Province. With 80% of the world s economy tied to decreasing population, some theorize that this is our challenged future. The implications of the above are wide in reach. Besides government priorities & spending, where will replacement workers who provide health care come from? With housing costs significantly higher in the Okanagan compared to the rest of the country (currently ranked 3rd in Canada) how can we attract younger professionals? What proactive measures can we do to attract more families? The Race for Human Capital The ability to deal with the Demographic winter is focused around strategies to encourage talented and highly skilled individuals to look at making a life in the Okanagan. This has economic implications in shifting the region from being an economic centre of mass production to one focused on value added skills, production and services. As a low cost producer, the Okanagan cannot and never will compete with the developing world. As a result, the Region should focus its efforts on attracting entrepreneurs and skilled workforce; the ability to attract tourists with families to the Region to showcase the quality of life should be supported and encouraged in assisting in communicating the quality of life offering to young families. Richard Florida has written extensively on the creative class and states, Those regions that will succeed are those that will be magnets for the highly educated, highly mobile, innovative people that high wage, high growth companies need to hire. Subsequent research has shown a pronounced positive relationship between a high share of creative population and employment growth and new firm formation at the regional level. At the same time, being creative matters more than being educated. To this end, the Region should continue to seek not only talented creative people but also ensure that the reasons for such relocation and retention are maintained. This in effect is the third pillar of the economic development strategic filter quality of place. 6

13 Quality of Place Quality of place is often used in the world of economic development. The climate, housing choices, natural physical attributes of the landscape like the lake and vineyards are all key factors in taking quality of life from a theoretical to actual level. The City of Calgary s economic development strategy succinctly connects the quality of life argument. The focus of economic development strategies is shifting. As cities grow in importance in the global economy, more attention is being given to creating an urban environment that provides a high quality of life & quality of place for residents as a way to ensure that a city can attract the best & the brightest to its workforce. The strategic imperative we need to seek value added economic opportunities that build upon maintaining our environmental landscape, making the Region the most appealing place to attract new talent. A recent technology mapping exercise, which included 60 in depth interviews with technology companies found some amazing similarities: over 90% of the companies could work and locate their companies anywhere they choose in North America and in some cases globally. Their primary reason for locating in the Okanagan was not the cost of doing business or the access to talent but was put quite simply as quality of life This is our competitive advantage and given the demographic shifts, the global search for human capital, is one we should continue to use from a marketing perspective and from a policy plank. Strategic Plan - The Economic Backdrop As the Region, country and globe continues to grapple with the economic challenges, the question is raised as to what we can do at the local level from an economic development perspective. What can we do to assist existing and growing business base with enhancement related activities and programs which address needs and challenges, attract new investment in the form of human and business capital into an expensive marketplace, and thirdly what larger policy and infrastructure issues must be addressed to allow the Region to meet its economic potential. This in essence is what economic development is and what the Commission should do on a Regional level. Investment Attraction - Most people historically equate economic development with the attraction of new industry; Identifying a targeted industry, making a sales pitch and closing a deal is what most people assume economic development is all about. In reality, investment attraction is expensive, time consuming and as demonstrated above not the most effective way to create sustainable economic growth. Decisions are based on labour force, cost and availability of land, transportation logistics, access to markets and taxation to mention a few. In the Thompson Okanagan 8% of the Labour Force is in the 7

14 Manufacturing sector while 74.9% is in the Service Producing Sector. 1 Site Selectors also consider the availability of developable land and the ability to transport goods and services as fundamental considerations in the location decision; smaller land parcels and the influence of the Agriculture Land Reserve (ALR) create larger location challenges. Location decisions also thrive on incentives that is the act of committing large amounts of public dollars to pave the way for location (and herein lies part of the challenge). British Columbia and local cities in the Province do not specifically offer incentives. A quick look to the US clearly demonstrates what we are competing with. A review of state incentives show 78% of US states actively offer dollars to encourage business to locate. A review of incentives by state can be found at apps.csg.org/business Incentives/. An example from November 2011 demonstrates the power of incentives. The decision by a high tech software company DSI to invest more than $15 million in retaining its presence in the US state of Missouri (maintaining 145 jobs and creating 15 new ones) in Kansas City, relied upon a state incentive package of $6,302, 821 in Missouri Quality Jobs incentives, which the company would be eligible for if its meets all the requirements of the program in terms of investment and job creation; and sales tax exemptions. The move to downtown Kansas City, Missouri is targeted for March As a result, investment attraction has to be focused and directed in areas where we have a competitive advantage. Our experience suggests that attracting entrepreneurs to create high value companies, with an emphasis on technology and value added agriculture is the way to go. We will never compete on an incentive basis so we must look at creating the best overall business climate. Over the years, FDI has been the search for the philosopher s stone for so many communities in Canada and abroad. Economic developers and agencies were still are? evaluated on their capacity to attract this big foreign company that will invest a huge amount of money, sustain several local suppliers, will be environmentally friendly, create an abundance of new, well paid, interesting jobs, will actively participate in the community s social and cultural environment and stay forever. In real life, no foreign investor nor any domestic one, for that matter can really fulfill all these criteria. FDI is, at best, ONE of the many components that should be part of the economic developers tool box to enhance the economic landscape of a region. As a result of the competitive global marketplace and identification of the Okanagan s unique assets, the Commission has identified the most strategic and sustainable streams of programming to attract investment into the region lies within the recruitment of location independent entrepreneurs, as well as, the recruitment & attraction of families. 1 1 Statistics Canada, Labour Force Survey, Annual averages Prepared by BC Stats February (Accessed November 2011) 8

15 Business Retention and Expansion - Research has shown that the majority of new jobs created come from existing businesses. David Birch, MIT, in his study Jobs Created in America, identifies that up to 80% of new jobs created come from existing businesses. The following represent a number of the key reasons for incorporating business retention and expansion in an overall community economic development strategy. Business retention and expansion: contributes significantly to the growth of the local economy through job creation, increased property assessment, etc.; facilitates the gathering of strategic business intelligence, which can lead to the development of an effective strategic planning for economic development; represents a more cost effective approach to economic development than the attraction of new businesses; facilitates the development and implementation of actions to address urgent business issues i.e. early warning system; acts as a business attractions strategy; and Facilitates the development of an improved local business climate. Simply stated, it is the most effective way to create economic growth in a community. While not deemed to be as exciting nor worthy of front page news, as the location of new business would be, it is the most effective way to create sustainable economic growth. Facilitation At the core facilitation speaks to the concept of a business friendly climate and connecting the dots for the economic community; In the case of economic development, this usually implies improved efficiency in the administration, procedures, and logistics in the establishment of ongoing operation of businesses. A broader definition includes ensuring the community has the resources and infrastructure in place to allow for the attraction of the enhancement of business. Facilitation is at the core what economic developers do as a daily task that is making it easier to successfully grow a business in the Central Okanagan. This includes providing access to pertinent data and communicating resources available to the business community in the Central Okanagan. 9

16 2012 Projects Program Area: Business Retention & Enhancement A strong and viable business retention and enhancement focus is fundamental to a successful economic development strategy. The COEDC has made business enhancement activities the mainstay of its programs and has conducted over 1400 site visits ( ) providing follow up to a significant number of these businesses. Additionally the Commission has presented to 380 organizations over the past 3 years and works in partnership with numerous local, regional, provincial, national & international organizations in order to facilitate programs and services to support the region s business community. 10

17 Project: Objective: Site Visitation(s) Provide 1:1 assistance to Central Okanagan employers by delivering 200+ site visits Rationale: COEDC developed the Site Visitation Program in 2002 as one way to communicate COEDC services to the business community, as well as, identify trends and opportunities & challenges businesses in the Central Okanagan face. With information gathered, the COEDC develops direct programming, facilitates partnerships and association collectives to capitalize on identified opportunities and address challenges. Tactics/Action: Budgetary Implications: $60,000 Site Visitation: Provide 1:1 assistance to 200 businesses in a cross section of industries in the Central Okanagan Corie Griffiths, Tracey Fredrickson, Keith Duhaime & Richard Takai Ongoing COEDC Advisory Board, chambers of commerce Partnerships with municipal, elected & industry associations as appropriate Tactics/Action: Budgetary Implications: $5,000 Site Visitation: Business Walks Corie Griffiths 1/4ly Senior level municipal staff, elected officials, Chambers of Commerce, Downtown Kelowna Association, Uptown Rutland Business Association Required probable follow up to visited businesses. Resources will need to be identified on an ongoing basis. Tactics/Action: Budgetary Implications: $5,000 Site Visitation: Develop a quarterly publication highlighting sectors & success stories (newsletter) Corie Griffiths, Richard Takai, Keith Duhaime & Tracey Fredrickson 1/4ly or monthly industry themed editions Accelerate Okanagan, Chambers of Commerce, Industry Associations, Women s Enterprise Centre 11

18 Tactics/Action: Budgetary Implications: Site Visitation: Identify & Link Central Okanagan manufacturers to supply chain opportunities associated with BC s Ship Building contract (Seaspan) Corie Griffiths & Richard Takai TBD TBD Ministry of Jobs, Tourism & Innovation, DFAIT Dependent on support from MJTI Tactics/Action: Budgetary Implications: Site Visitation: Facilitate BC Bid awareness session for Okanagan manufacturers Corie Griffiths & Richard Takai $ cost recovery program March DFAIT, Chambers of Commerce Tactics/Action: Site Visitation: Provide market ready assistance to farms/agri tourism = Facilitate the development of 8 Central Okanagan Farms to Tourism Status Budgetary Implications: $30,000 Robert Fine, Keith Duhaime & New position a multiyear program BC Tourism, Ministry of Agriculture, Farm Credit Canada, 12

19 Project: Objective: Workforce Development To support the labour needs of employers in the Central Okanagan. Rationale: Based on intelligence gathered at Industry Roundtables in 2011 and hundreds of oneon one site visits to Okanagan businesses, the recruitment and retention of skilled workforce is the number one challenge that employers are facing. Coupled with the aging demographics of the region, the COEDC has identified workforce development project(s) as a means to soften the pressure our local employers are facing. Tactics/Action: Budgetary Implications: $0 Workforce Development: Communicate industry needs to UBCO /OC programming through participation on program Advisory Committees Robert Fine Ongoing, as meetings are required Chambers of Commerce, UBCO, OC, School District # 23 Tactics/Action: Budgetary Implications: $2,000 Workforce Development: Through the COEDC Foreign Skilled Worker Program Facilitate Seasonal Agricultural Worker option to Central Okanagan employers Corie Griffiths, Keith Duhaime & Woody Cross ongoing Tactics/Action: Budgetary Implications: Workforce Development: COEDC representation on the BC Fruit Growers Association (BCFGA) Labour committee Corie Griffiths & Keith Duhaime staff time, 1/4ly meetings ongoing 13

20 Tactics/Action: Workforce Development: Facilitate conversions of the BC PNP program through COEDC s Foreign Skilled Worker Program Coordinator Budgetary Implications: $2,500 Robert Fine & Woody Cross ongoing Changes in program must be communicated as they occur Tactics/Action: Workforce Development: Identify & Respond to employers & employees with their foreign skilled labour & process needs Corie Griffiths & Woody Cross Budgetary Implications: $20,000 ongoing Tactics/Action: Workforce Development: Partner with the Okanagan Valley Economic Development Society (OVEDS) in the implementation of the Labour Market Partnership Program (identification of short & long term labour needs for Agriculture & Professional Services sectors) Budgetary Implications: $3,600 Corie Griffiths April OVEDS LMPP partnership leveraged $40,000 worth of programming & regional license of business retention & expansion (BR&E) software programming allowing the COEDC to better measure & track its BR&E activities 14

21 Project: Business Beyond Borders Objective: Working in partnership with DFAIT, facilitate three business development sessions to Okanagan businesses. Rationale: The Commission partnered with DFAIT in 2011 in the development of branding and programming of the Business Beyond Borders Seminars; 2011 seminars addressed: Financing Resources for Growth, Exporting Professional Services, Understanding International Business Transactions and Protecting your Intellectual Property. COEDC has identified the need for additional strategic business development programming in 2012 and will continue to develop the Business Beyond Borders program as one way to address specific needs of businesses in the Region. Tactics/Action: Business Beyond Borders: Develop three business development support seminars to assist with the identification of markets, sales & exporting etc. Richard Takai Budgetary Implications: $10,000 ongoing DFAIT, Chambers of Commerce, Business Service Providers 15

22 Project: Objective: Succession Planning Agriculture Provide assistance to farms with their Succession needs. Rational: Agriculturalists in the Okanagan are aging. The average age of Okanagan farmers (Census of Agriculture, 2006) was over 56 years. Many are looking to retire in the next 5 years. Land prices are prohibitive in many instances to local new entrants to the industry. Opportunities do exist however for entrants from other locations around the globe with similar land prices. *Please also see Business Enhancement Program Area; Site Visitation project(s) regarding provision of market ready assistance to farms. Tactics/Action: Budgetary Implications: Succession Planning Agriculture: Facilitate four succession planning workshops for businesses in the Agricultural sector Robert Fine & Keith Duhaime $n/a 1/4ly sessions Ministry of Agriculture ***program development dependant of funding through the Ministry of agriculture 16

23 Project: Objective: metabridge Develop market expansion of metabridge Rationale: Building upon the Commission s technology attraction strategy and activities from 2008 to 2011, the COEDC will work with partners to facilitate support to our local technology businesses, as well as, attract foreign direct investment in the expansion of the metabridge program in The commission continues to drive the metabridge program and facilitates a significant amount of leveraged funding to support corresponding project(s); contributing only 2% from the COEDC s budget. Tactics/Action: metabridge: Develop Strategic (program expansion) Plan as a result of the evolution of MB, there is a need to focus objectives of MB to include identification of targeted industry audience (e.g. ICT ), identified market expansion with rationale, a defined criteria for company participation and benefit offering with measurable results and communication plan(s). Budgetary Implications: Robert Fine & Michael Blonde N/A Ongoing, Flagship event June DFAIT, WD, & industry Tactics/Action: metabridge: Facilitate market expansion of metabridge through the development of 5 Western North American Partnership events; GROW Vancouver, DFAIT Vancouver, C100/48 hrs silicon valley, CES, SXSW Austin, 4 th annual Flagship event Central Okanagan aimed at providing new sales and communication channels. Budgetary Implications: Robert Fine & Michael Blonde $80,000 ( to be reimbursed by Federal & Provincial programs) ongoing DFAIT, BCIC, REDI BC program (Community Futures), Steve Wandler Tactics/Action: metabridge: Formulate Silicon Valley based Pitch Team to provide 30 Western Canadian companies with 1:1 dialog, mentorship and pitch coaching. Robert Fine & Michael Blonde Budgetary Implications: $10,000 ongoing Steve Wandler 17

24 2012 Projects Program Area: Economic Development Facilitation Economic Development Facilitation requires developing an information infrastructure that ensures effective communication with decision makers at all levels of government and with other community organizations. The COEDC works to bring a business perspective to the decision making process by these organizations; Effective business facilitation also requires the Commission to work with groups outside its specific region on growth management strategies with regional benefits. 18

25 Project: Economic Summit Objective: The continued expansion and diversification of the Economy within the Central Okanagan is arguably the single biggest issue within the Region today. The impact of current real estate and development and our tourism market has exposed vulnerability for our economy. What is the Region s Economic future? How can the private / public / and not for profit sectors collaborate to ensure a robust and secure economic future for the Region? How can we better leverage the Region s greatest economic engines; the Airport, UBCO, Okanagan College, and Health Care, to positively influence our economy? Rationale: The COEDC Advisory Board has determined the need to increase partnerships, cultivate relationships and awareness of economic development providers in the region to interested parties Global Ipsos Reid (Global TV Canada s Pulse) Survey results show the Economy is the Okanagan s top local issue / across Canada it was the 3 rd highest ranked behind 1. Infrastructure deficit / spending and 2. access to Healthcare Survey suggests that while Kelowna is a great place to live (90%), we scored poorly on Kelowna being a great place to work / invest, and were not very upbeat about the economy. To address the perception that Gov t and Business can work more effectively towards the enhancement of the Region s economy. To develop strategies and to seek partnerships that will lead to a robust and sustainable future for our Economy. Tactics/Action: Economic Summit: Facilitate gathering of interested parties to build a better understanding of economic development process Budgetary Implications: Corie Griffiths, COEDC Executive Advisory Board, & Contractor $10,000 (+$40,000 in leveraged funding) October (small business month) EDABC, OVEDS, Ministry of JTI, Okanagan College, University of British Columbia Okanagan How does this fit with COEDC s Mandate? Mixed messaging exists as to the roles and responsibilities of the various players (municipalities, Ec. Dev staff, the Chamber, other levels of Gov t). It helps to address our need for increasing awareness of what we do and how we do it (Branding). It supports the exchange of information amongst the playersincluding UBCO / OC / Accelerate Okanagan etc. It may assist in facilitating new partnerships ** project dependent of securement of leveraged funding 19

26 Project: Increase Awareness of COEDC Programs & Services Objective: To increase the awareness of COEDC s programming and services to support the business community in the Central Okanagan. Rationale: As identified by the Commission s Advisory Board, site visits and industry intelligence there is an opportunity for the Commission to increase the awareness of its services to the greater business community in the Okanagan. Tactics/Action: Increase Awareness of COEDC Programs & Services: Develop COEDC Communications Strategy & process including use of newsletter, social media & identification of additional targets, mediums & tactics Budgetary Implications: $2,000 Corie Griffiths February COEDC Advisory Board members Strategies should be consistent, long term based leveraging multimedia with human elements. Leveraging of executive board members to present/copresent to community groups as the voice of the COEDC. 20

27 Project: Support, Facilitate & Implement Information Exchange Between the COEDC & University of British Columbia (UBCO) & Okanagan College (OC) Objective: To support and cross promote programs between the COEDC, University of British Columbia (UBCO) & Okanagan College (OC). Rationale: The challenges of the Demographic Winter are apparent in the Central Okanagan. With approximately 19% of Kelowna CMA s (Central Okanagan Region) population over 65 years of age there has been a pressure placed on employers and the region s economy to retain a young talent pool of professionals in the region. With this in mind the COEDC has identified the following activities to support & implement the exchange of information between the Commission and the post secondary institutions in the region. Tactics/Action: Support, Facilitate & Implement Information Exchange Between the COEDC & University of British Columbia (UBCO) & Okanagan College (OC): Senior Staff representation on Presidential Advisory Council (UBCO) Senior Staff representation on Regional Advisory Council (OC) Budgetary Implications: Robert Fine n/a 1/4ly meetings UBCO, OC Staff time Tactics/Action: Support, Facilitate & Implement Information Exchange Between the COEDC & University of British Columbia (UBCO) & Okanagan College (OC): Support & Promote International Student Recruitment initiatives (UBCO, OC, SD23 & private schools) Robert Fine Budgetary Implications: $ TBD TBD UBCO, OC, School District # 23 **identify where recruitment efforts/activities are taking place & tie COEDC programming & collateral materials to activities 21

28 Tactics/Action: Support, Facilitate & Implement Information Exchange Between the COEDC & University of British Columbia (UBCO) & Okanagan College (OC): Support Okanagan College s International Student dinner/reception Budgetary Implications: $500 Robert Fine May International Student Recruitment efforts are dependent on identification of partnership opportunities w/ UBCO, OC & SD23 as well as identification of appropriate markets where value added COEDC programming compliments existing international student recruitment activities. 22

29 Project: Airport/Route Development Objective: Through COEDC senior staff representation on the Kelowna Airport Air Service Development Task Force, facilitate the development of outward & inward air routes of the Kelowna International Airport. Rationale: At Industry Roundtables facilitated by the Commission in 2011, the Kelowna International airport was identified as vital infrastructure to businesses in the region. At the same time business stated a need to increase inward/outward bound routes to better serve their business needs. YLW is also a major employer in the region employing over 2,700 people and generating an economic impact of over $610 million dollars. Tactics/Action: Airport Route Development: COEDC representation on Kelowna Airport s Air Service Development Task Force Robert Fine Budgetary Implications: $10,000 ongoing 23

30 Project: Objective: Communication Industry Intelligence to Regulatory Bodies Facilitate the opportunity industry intelligence to regulatory bodies Rationale: Based on industry feedback obtained from COEDC s site visitation program, industry roundtables, and the Commission s Advisory Board there is a need to increase communication of industry needs to business service providers, educational institutions and regulatory bodies in the Central Okanagan. Tactics/Action: Communication Industry Intelligence to Regulatory Bodies : Continue ongoing support and communication of industry needs to key partners in the region. Budgetary Implications: Robert Fine & Corie Griffiths n/a *considerable staff time Ongoing Including but not limited to BC Small Business Roundtable, Small Business Innovation Centre Task Force, Convention Centre Task Force, Accelerate Okanagan (AO), Chambers of Commerce, Business Development Bank of Canada (BDC), Okanagan Valley Economic Development Society (OVEDS), Community Futures (CFDC), Thompson Okanagan Tourism Association (TOTA) and the Women s Enterprise Centre. Considerable staff time 24

31 Project: Young Entrepreneur Program Objective: The Young Entrepreneur Program creates an opportunity for middle school and secondary school students to develop their business and entrepreneurship skills. Rationale: With the Central Okanagan having one of the highest rates of self employment in Canada, the aim of the program is to provide youth in our community with hands on learning experiences and create excitement towards the topic of entrepreneurship. Tactics/Action: Young Entrepreneur Program Continue program in partnership with SD23, Okanagan College, Students in Free Enterprise (SIFE) Robert Fine Budgetary Implications: $ 5,000 January May and November to December SD23, Okanagan College, SIFE, BDC 25

32 Project: Okanagan Young Professionals Objective: Establish a regional network & communication hub through facilitation of an existing communication hub (Awesome Okanagan) and community partners (including but not limited to): GenNext Kelowna, Kelowna Jaycees, JCI Okanagan, Digital Okanagan, SIFE Okanagan, UDI under 40, & APEG BC & Venture Okanagan Rationale: The demographic and economic implications that face the Okanagan are well documented and wide in reach. From being the oldest census city in Canada to lagging income standards across most industry sectors, the Okanagan must focus its creative efforts around attracting and retaining young professionals and families. These core themes provide the framework and rationale to proactively engage with individuals looking to get involved in the community and ultimately, foster a culture around young professionals. Current state: Even though a number of quality organizations already exist providing programming and connection throughout the Okanagan, communication and identity is often fragmented. This fact, coupled with low capacity for existing groups to market and scale successfully, points to an opportunity for a new approach. United collaboration between existing groups, focused towards a shared vision for the Region s prosperity, is what s needed. Vision: Okanagan Young Professionals is a talented and energetic group committed to cultivating a culture for those is their 20 s and 30 s. Tactics/Action: Okanagan Young Professionals Create OYP strategic plan to include: Identification of short & long term objective (s) Development of Communications Strategy: Corie Griffiths, Michael Blonde, & Donnie Ungaro Budgetary Implications: $2,000 February Awesome Okanagan, Kelowna Jaycees, GenNext, JCI Okanagan, SIFE, UDI Under 40, APEG BC 26

33 Tactics/Action: Okanagan Young Professionals Facilitate the development of an OYP working advisory board (8 10 people, industry based, one year term. Objective of board will be to establish & cultivate the OYP network and facilitate the following activities: o Create mentorship/coaching program for UBCO/OC students to enhance their professional development network by: Mentorship of 20 students in 3 rd year in Business Administration & Faculty of Management programs and measure/evaluate/trace their professional development status at graduation o Enhance and cultivate COEDC & UBCO/OC relationship(s) by promotion and facilitation of events: e.g. Co op programs, Alumni networks, international student programs o COEDC/OYP to speak at student orientations (messaging to include importance of establishing network(s) o COEDC /OYP Representation on SIFE s Business Advisory Board & additional support as needed for global competitions o Support and promote graduate job fairs at UBCO/OC with objectives: 1. Increase awareness of OYP initiatives 2. Enhance relationship with UBCO/OC as a means of retaining skilled youth professionals 3. Connect with Okanagan employers and link OYP s to industry needs Budgetary Implications: $ 30,000 Corie Griffiths, Michael Blonde, Donnie Ungaro Board development, February. Other activities as identified within the OYP strategic plan Tactics/Action: Okanagan Young Professionals Facilitate TEDx Kelowna event TEDxKelowna will bring together bright minds from various walks of life that are focused on using entrepreneurship as a catalyst for change in the world Robert Fine, Michael Blonde, Donnie Ungaro Budgetary Implications: $4,000 June (link to metabridge) Chambers, UBCO/OC 27

34 2012 Projects Program Area: Investment Attraction While the Central Okanagan Economic Development Commission worked for many years to attract new large industry/businesses to the Okanagan, efforts shifted to attracting investment into existing businesses in the community in Over the years, Foreign Direct Investment has been the search for the philosopher s stone for so many communities in Canada and abroad. Economic developers and agencies were still are? evaluated on their capacity to attract big foreign companies that will invest a huge amount of money, sustain several local suppliers, will be environmentally friendly, create an abundance of new, well paid, interesting jobs, will actively participate in the community s social and cultural environment and stay forever. In real life, no foreign investor nor any domestic one, for that matter can really fulfill all these criteria. FDI is, at best, ONE of the many components that should be part of the economic developers tool box to enhance the economic landscape of a region. As a result of the competitive global marketplace and identification of the Okanagan s unique assets, the Commission has identified the most strategic and sustainable streams of programming to attract investment into the region lies within the recruitment of location independent entrepreneurs, as well as, the recruitment & attraction of families. Investment Attraction is about attracting investment into our Region, as well as people; Work in this area has to be strategic and focused. 28

35 Project: Okanagan Entrepreneurial Attraction Objective: Strategically market the Okanagan to entrepreneurs in the Alberta marketplace, connecting to the networks of those who have successfully located into the Greater Kelowna region. Rationale: Real estate investment into the Okanagan between 2004 and 2008 from the Alberta marketplace created significant job creation and economic activity. Albertans have been distracted by HST, the cheaper US marketplace for housing and until recent months, a slowing oil economy. With improving oil markets, and a continued quality of life and climate, the timing is right to re engage in a strategic networked way positioning the Okanagan as a great place to do business, live and grow. Tactics/Action: Okanagan Entrepreneurial Attraction Access network of successful Okanagan entrepreneurs in partnership to attract new entrepreneurs to expand their business interests into the Valley Budgetary Implications: Robert Fine & Corie Griffiths $20,000 + $20,000 leveraged funds 2 events June and October OVEDS 29

36 Project: Foreign Direct Investment Program (Europe) Objective: Strategically market (through the metabridge, 2012 London Summer Olympic Games and Emigrate venues) the Okanagan to entrepreneurs in the United Kingdom as a place to locate their business & families. Rationale: Over the last several years the COEDC has targeted the United Kingdom for investment attraction. From the Commission can point to 17 Business PNPs from abroad locating to the Okanagan as a result of contacts made marketing the region to entrepreneurs. Tactics/Action: Foreign Direct Investment (Europe) metabridge facilitate expansion of UK market attraction; Coordinating CODEC UK partners Liverpool Vision, Winning Pitch,) and other UK networks to target UK technology businesses Robert Fine & Andy Curtis Budgetary Implications: $30,000 + $30,000 leveraged funds January August OVEDS, DFAIT ICCI providing matching funding of $30,000 Tactics/Action: Foreign Direct Investment Program (Europe) Attend 6 Emigrate events targeting markets in Europe; specifically the Netherlands & the United Kingdom Budgetary Implications: Robert Fine $30,000 + approximately $50,000 of additional leveraged partnership funds February, March, October & November Comox Valley, Venture Kamloops, Vernon, TOTA & Ministry of Jobs, Tourism & Innovation, OVEDS & Private Sector Collateral developed in the Invest Opportunities database, site selection and economic profiles will be coordinated with the above targeted activities/audiences in mind 30

37 Project: Objective: sector. Fintry Incubator Facilitate the opportunity for new entrants to fill succession needs in the Agricultural Rationale: One of the COEDC s overarching objectives is to facilitate new economic development in the Central Okanagan s agricultural sector. The Fintry New Farm project presents an excellent opportunity for new entrants with new product ideas to enter the sector and establish viable, sustainable businesses that will not only help reinvigorate agriculture, but also support to other vital existing and emerging components of the Central Okanagan s economy such as agri tourism and culinary tourism. Agriculturalists in the Okanagan are aging. The average age of Okanagan farmers (Census of Agriculture, 2006) was over 56 years. Many are looking to retire in the next 5 years. Land prices are prohibitive in many instances to local new entrants to the industry. Opportunities do exist however for entrants from other locations around the globe with similar land prices. *Please also see Business Enhancement Program Area; Site Visitation project(s) regarding provision of market ready assistance to farms. Tactics/Action: Fintry Incubator Approval of Strategic work plan. The strategic issues are grouped into three main areas: 1. Finalize agreement with Province of British Columbia First Incubant April 2. Revitalize Agriculture in the Okanagan region Robert Fine & Keith Duhaime Budgetary Implications: $20,000 ongoing Friends of Fintry Society, BC Parks Tactics/Action: Fintry Incubator: Placement of First Incumbent Budgetary Implications: Robert Fine & Keith Duhaime see above April See above 31

38 Project: Investment Attraction Collateral Objective: Develop and publish investment attraction materials including: Economic Profile(s), Site Selection Toolkit, Okanagan Investment Opportunities database and the re optimization & navigation of the Invest Kelowna Website Rationale: Investment attraction efforts require the Commission to have relevant information ranging from demographics to investment opportunities in the region. To this end the COEDC will increase capacity in its ability to market the region as a place to locate with supportive collateral materials. Tactics/Action: Investment Attraction Collateral : Develop & Publish Site Selection Tool Kit Corie Griffiths Budgetary Implications: $2,500 March Chambers of Commerce, Industry Associations, & Tourism associations ICCI leveraged funding of $1500 Tactics/Action: Investment Attraction Collateral : Develop & Publish Economic Profile(s) for the Central Okanagan, District of Peachland, District of West Kelowna, City of Kelowna and the District of Lake Country, Central Okanagan East, Central Okanagan West Budgetary Implications: $6,500 Corie Griffiths February OVEDS ICCI leveraged matching funding of $1500 Tactics/Action: Investment Attraction Collateral : Develop and publish Central Okanagan Investment Opportunities database Corie Griffiths Budgetary Implications: $2,500 $5,000 February Applied for ICCI matching funding 32