ANNUAL PERFORMANCE REPORT For the Period April 1st, 2016 March 31st, 2017 PROUDLY SUPPORTED BY

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1 For the Period April 1 s t, 2016 March 31 s t, 2017 PROUDLY SUPPORTED BY

2 For the Period April 1 st, 2016 to March 31 st, 2017 EXECUTIVE SUMMARY Since 1993, the HBDC (Community Futures Huron) has provided economic development and small business development services to the entrepreneurs, workers and communities of Huron County, Ontario. This report reflects the activities and achievements of the Corporation for a period of 12 months, commencing April 1 st, 2016 and terminating March 31 st, The following chart highlights our recent track-record in providing the 4 lines of business shared by all CFDC's i.e. Strategic Planning; Community Economic Development; Business Services; and Access to Capital. The tangible results of this activity are outlined as follows: 1. Number of Volunteers Engaged: Number of CED Partners Engaged: Number of CED Projects Supported: Value of Direct CED Investment: $20, Value of Leveraged CED Investment: $342, Number of Business Workshops Held: Number of Business Client Referrals: Number of In-depth Client Interviews: Number of Businesses Assisted (Consulting) Number of Jobs Created or Maintained (Consulting): Number of Loans Disbursed: Value of Loans Disbursed: $1,048, Number of Businesses Assisted (Loans): Bad Debt Ratio: 1.5% 15. Active Portfolio Ratio: 80% 16. Value of Business Investment Leveraged: $290, Number of In-depth Interviews (Loans) Number of Jobs Created or Maintained (Loans) Number of jobs Created or Maintained (Loan Consults) 3 1

3 From April 2016 to March 2017, $1,048,246 in commercial loans were approved and disbursed to Huron County businesses. When combined with other 3 rd party investments through lending and economic development projects, a total of $6,379,000 in economic activity was generated throughout the region. As a result, 79 local businesses were assisted with their start-up and expansion plans and 69 new jobs were created. This translates into approximately $2,415,000 in new annual employment income generated in the area, with about $56,000 of that going back to municipal coffers each year in the form of property taxes. WHAT IS COMMUNITY FUTURES HURON? The Huron Business Development Corporation (Community Futures Huron) is a communitybased, not-for-profit organization operating as a Community Futures Development Corporation (CFDC). CFDCs are financially supported by the federal Community Futures Program, staffed by professionals and governed by local volunteer boards of directors familiar with their communities needs, concerns and future development priorities. Under the terms of the Community Futures Program, all Community Futures Development Corporations operate with the same 4-part mandate: Strategic community planning and socio-economic development; Support for community-based projects; Business information and planning services; and Access to capital for small and medium-sized businesses and social enterprises. 2

4 Community Futures Development Corporations deliver on this mandate in the following ways: Strategic Planning CFDCs work closely with communities to assess local challenges and to look at new ideas and opportunities that could strengthen their economies. In consideration of the unique circumstances of the local area, they plan and help implement development strategies that are designed to build brighter futures for the communities they serve. Community Projects CFDCs collaborate with a variety of partners from the public and private sectors to implement projects or special initiatives targeted to their communities in areas such as tourism, entrepreneurship, economic diversification and community adjustment. Business Services CFDCs understand small businesses and the local marketplace. They provide important services to businesses, entrepreneurs and social enterprises, including: Business counselling, documentation and referrals Guidance with business plans Export support Entrepreneurial training Information on relevant federal and provincial programs and services. Access to Capital Through Government of Canada funding, CFDCs administer local investment funds to help finance new or existing small businesses and social enterprises for start-up, expansion or stabilization plans that help maintain or create jobs. Repayable financing of up to $150,000 on commercial terms through loans, loan guarantees or equity investments is available when financing from other sources is insufficient. All CFDC financing decisions are made at the community level by the local boards of directors. 3

5 HOW DOES THIS MANDATE PLAY OUT IN HURON COUNTY? Core operational funding through the Community Futures Program provides the communities of Huron County with financial and human resources for: Staff input and advice into economic planning and project development (e.g. Huron County Economic Development Plan; Huron Immigration Partnership); Management support in the operation and administration of community-based initiatives (e.g. Huron Manufacturing Association; Huron Perth Eat & Learn; Edge Renewal Fund); Access to project funding, either directly through the HBDC annual operating budget, in partnership with the County of Huron (e.g. Huron Economic Development Partnership) or through other external sources (e.g. Ontario Trillium Foundation); One-on-one management consulting for business ventures (e.g. Win-This-Space, Better Business Seminars); Access to Investment Capital for small and medium enterprises, including social enterprise (e.g. Huron Investment Fund, Southern Ontario Fund for Investment in Innovation; Western Ontario Rural Capital Pool.). WHO OVERSEES THE ACTIVITIES OF COMMUNITY FUTURES HURON? A 13-member volunteer Board of Directors (including 1 voting County of Huron representative appointed by Council) oversees the operations of the The Corporation. These individuals represent the various communities and economic sectors of Huron County. In addition to possessing financial, strategic planning and community development skills, board members are committed to improving the local economy through their involvement in community-based economic development initiatives. The Board of Directors is elected annually at the Annual General Meeting. Directors terms are 3 years and they may hold office for a maximum of 4 terms (12 years) before retiring. 4

6 BOARD OF DIRECTORS Director Region Sector Status Rick Hundey Past President South Cultural Services 3 rd year of 4 th term Jim Fergusson President South Tourism 1 st year of 3 rd term Jan Hawley - Treasurer Central Economic Development 1 st year of 3 rd term Maureen Agar- Secretary Central Agriculture 2 nd year of 1 st term Stephen Boles South Environmental Services 1 st year of 3 rd term Natasha Fritzley Central Marketing/IT 3 rd year of 1 st term Connie Goodall North Community Development 3 rd year of 3 rd term John Kiser South Financial Services 2 nd year of 1 st term Jessica Lunshof Central Health/Seniors Services 1 st year of 1 st term Kate Procter North Agriculture/Recreation 2 nd year of 1 st term Joe Steffler/Bernie MacLellan County of Huron For, the Community Futures Huron had 5 core staff including: Paul Nichol (Economic Development Manager) Jim Niesen (Business & Loans Manager) Lisa Houthuyzen (Customer Service) Heather Little (Loans Monitor) Brenda McGregor (Office Administrator) In addition, there were a number of individuals working throughout Huron County under various contracts. These included: Cathy Bieman, (Project Coordinator, Taste of Huron Culinary Tourism Strategy) Dr. Christopher Cooper, (Project Lead, Maitland Mills Feasibility Study) 5

7 Nancy Fisher, (Coordinator, Huron Perth Eat & Learn Program) Sheila Schuehlein, (Project Lead, Huron County Healthy Rural Policy Lens) Nathan Swartz (Coordinator, Huron Food Action Network) WHO DO WE WORK WITH? The nature and scope of our programs and services help a variety of clientele in their business, employment and economic development needs. Fulfillment of our business counselling, investment and community strategic planning mandate requires regular and extensive involvement with several clientele, including: Potential entrepreneurs in Huron County who have always been employed and have considered the idea of running their own small enterprise but have never seriously entertained it to the point of discussion with a consultant and might benefit from an informal entrepreneurial outreach program (Business By Design); Conventional lenders in Huron County who need to know that the Community Futures Huron does not compete with them for small business loans and also has the ability to encourage their participation in joint financing projects by accepting a subordinate collateral position if they cannot underwrite the entire investment alone (BDC, Credit Unions, Local Chartered Bank Branches); Existing business managers in Huron County who have access to management tools, resources and expertise to help develop entrepreneurial skills for themselves and their employees (Small Business Consulting Services; Better Business Workshop Series); Farm operators in Huron County who have access to services that assist them in developing new or transitional value-added opportunities (Huron Food Action Network; Farmers Markets, Huron Local Food Charter); Employers in Huron County s manufacturing, hospitality and healthcare sectors who have access to training programs that upgrade the skills of their existing workforce (Customer Service Training); 6

8 Youth in Huron County who have access to career development and job experience through programs offered in entrepreneurship, skilled trades, healthcare and hospitality (HMA School-Industry Tours; Customer Service Training; Gateway Research Internships); Economic development stakeholders in Huron County who have access to programs and services that assist them in launching local renewal strategies in their communities (Business Retention & Expansion; Downtown Revitalization). 7

9 ACTIVITY IN REVIEW STRATEGIC PLANNING: A number of strategic planning exercises were lead by Community Futures Huron in, including: MAITLAND MILLS FEASIBILITY STUDY Community Futures Huron, in collaboration with the Maitland Valley Conservation Authority have contracted the services of Edifice Guild Consulting to develop plans for the adaptive re-use of historic mills in Brussels and Gorrie. Other sponsored strategic planning initiatives in include; Huron County s Sustainable Food System Action Plan, which charts a course for growing the region s agri-food economy. Continued roll-out of the Huron County Healthy Rural Policy Lens; Outreach to young professionals through support to the Engage Huron Strategy; Support to the creation of a Western Wardens Economic Development Plan. 8

10 COMMUNITY ECONOMIC DEVELOPMENT: A total of ten (10) Local Initiatives were launched in, including: RURAL EMPLOYMENT INITIATIVE Working with the Newcomer Centre of Peel; Community Futures Ontario and the Huron County Local Immigration Partnership, the Rural Employment Initiative is developing ways of encouraging, attracting and retaining more newcomers to the area. RURAL TALKS TO RURAL INTERNATIONAL CONFERENCE Blyth, Ontario was the site of the first Rural Talks to Rural Conference held in September, Delegates from as far away as Germany came together for 3 days to share stories on rural resilience and opportunity. 9

11 GATEWAY RURAL HEALTH RESEARCH INTERNSHIPS During the summer of 2016, Community Futures Huron was able to provide research grants to support 5 internships at the Gateway Centre of Excellence in Rural Health. WINGHAM FARMERS MARKET Over the years, we have been instrumental in supporting the growth of the region s farmers markets, including most recently, the Wingham Farmers Market. 10

12 HMA SCHOOL-TO-INDUSTRY TOURS Secondary school students from across the region have come to know more about the range of opportunities available to them in the manufacturing sector. 5 area schools took part in this year s round of school to industry tours, organized by Community Futures Huron in partnership with Libro Credit Union the Huron Manufacturing Association. Other Community Projects supported during included: Huron County Cultural Passport; Bayfield Heritage Centre Historical Tours 5 th Annual Huron County Multi-cultural Festival; West Coast Blues Festival Huron Perth Eat & Learn Programs. 11

13 BUSINESS SERVICES: BUSINESS WORKSHOP SERIES 496 participants honed their business management skills by attending the Better Business Series & Business By Design Workshops. TASTE OF HURON CULINARY TOURISM STRATEGY Through the financial support of Fed Dev Ontario, Community Futures Huron is working with food & beverage operators throughout the County to launch a world-class culinary tourism experience. 12

14 PROVIDING ACCESS TO CAPITAL: COMMUNITY FUTURES HURON A total of $1,048,246 in small business loans were approved and disbursed from the Community Futures Huron Investment Fund, with another $290,000 leveraged from other investors. SQUARE BREW CRAFT BREWERY LTD. Artisanal food and craft wineries & breweries are some of the fastest growing economic sectors in Huron County. Square Brew Craft Brewery in Goderich is one of our newest loan clients. 13

15 AND THE HITS JUST KEEP ON COMING! Community Futures Huron, the Municipality of Huron East and the County of Huron shared the glory for the phenomenal success of the Win-This-Space program. It was awarded best community economic development project at the 2016 Community Futures Ontario conference. Accepting the award above are HBDC board members Jan Hawley and Maureen Agar. This was the 30 th award received by the Corporation over our 23-year history. 14

16 : THE END RESULT: Since inception in October 1993, the Huron Business Development Corporation (Community Futures Huron) has invested a total of $31,538,269 of public funds into local economic development initiatives. As of March 31 st, 2017, these investments have helped launch or expand 2,722 commercial enterprises throughout Huron County, or approximately 40% of all farms and businesses in the region. In turn, these enterprises employ 9,533 people, or approximately 30% of the Huron County labour force. This translates into approximately $334 million in wages and salaries generated in the area each and every year, with about $7.7 million of that going back to municipal coffers in the form of property taxes and another $20.7 million to the federal government in income and business taxes. Over this same time period, the average one-time public cost per job through investments made by the HBDC is just $3,308. This number compares favourably with other federal and provincial economic development programs. We could not do this without the dedication of our many project volunteers; our extensive partnerships throughout the community, and of course, the many private and civic entrepreneurs who keep striving to make good things happen in their communities. 15

17 COMMUNITY FUTURES HURON 138 Main Street South Seaforth, Ontario N0K 1W0 T: (519) F: (519) HELPING ENTREPRENEURS MAKE GOOD THINGS HAPPEN IN 16

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