ATTACHMENT 1 ANNUAL REPORT TO THE CITY OF SASKATOON 2018 Performance Results 2019 Target & Budget
Table of Contents About Us... 2 2018 SREDA Results... 3 Key Performance Indicators Results... 4 Economic Impact Results... 5 2018 Awards... 6 2019 Preliminary Budget... 7 Revenue... 8 Expenses... 9 2019 Targets... 10 Key Performance Indicators... 11 Economic Impact... 12
About Us Purpose Statement Strengthening and growing the local economy. Values Outstanding, Partnerships, Team, Trust Role SREDA helps strengthen and grow the local economy by providing programs and services in the areas of business attraction and expansion; entrepreneurship, regional economic development and planning; Indigenous economic development; economic intelligence; and marketing the Saskatoon Region and talent attraction. 6 Pillars of Economic Development 1. Business Attraction & Expansion Support the attraction and expansion of businesses in the Saskatoon Region. 2. Entrepreneurship Assist entrepreneurs to start and grow their business in Saskatchewan. 3. Regional Economic Development & Planning Coordinate effective regional planning to encourage and support growth across the Region. 4. Indigenous Economic Development Develop effective Indigenous economic development strategies to encourage and support economic inclusion and growth in the Saskatoon Region. 5. Economic Intelligence Provide insight and forecasts on economic trends in the local economy to assist stakeholders with future planning. 6. Marketing the Saskatoon Region & Talent Attraction Promote the Saskatoon Region as the best place to work, live and invest in order to support population growth. ANNUAL REPORT TO THE CITY OF SASKATOON // ABOUT US 2
2018 SREDA RESULTS
Key Performance Indicators Results NO. KPI TARGET YTD WEIGHTING STATUS Business Attraction 1.1 Attract 4 companies to the Saskatoon Region to explore establishing an office/facility. 4 7 10% 10% 1.2 $16M of investment attracted to the Saskatoon Region. $16M $25M 10% 10% Business Expansion Assist local companies with expansion plans utilizing 2.1 the Business Development Incentive Policy - support 20 25 10% 10% the creation of 20 new jobs. 2.2 Recommend changes to the City of Saskatoon on the Business Development Incentive Policy. 10 10* 10% 10% Entrepreneurship 3.1 Assist in the establishment of 25 new businesses in the Saskatoon Region. 25 55 10% 10% 3.2 Provide assistance to over 4,000 entrepreneurs across Saskatchewan to start or grow a business. 4,000 3,800 10% 9.5% Regional Economic Development & Planning 4.1 Deliver one economic development project/initiative to each of SREDA s 13 Regional Members. 13 10 5% 3.9% 4.2 Host 6 Regional Business Opportunities Tour to market opportunities across the Region to businesses and investors. 6 6 10% 10% Economic Forecasting & Analysis Release the Quarterly Saskatoon Region Economic 5.1 Dashboard and track/grade the Saskatoon Region 4 4 5% 5% economy. 5.2 Provide economic research & analysis on at least 5 key business/economic issues affecting the Saskatoon Region. 5 5 5% 5% Marketing the Saskatoon Region Implement a marketing campaign that promotes the 6.1 Saskatoon Region to businesses/investors/general 1 0.5 5% 2.5% pubic. 6.2 Ensure the Saskatoon Region is promoted in at least two international markets, across Canada and receives at least 4 positive media articles about the region s 6 15 10% 10% strong and diversified economy. 12 TOTAL 100% 96% * To be completed by December 31, 2018 ANNUAL REPORT TO THE CITY OF SASKATOON // 2018 SREDA RESULTS 4
Economic Impact & Return on Investment Results SREDA is pleased to report our 2018 economic impact of $52 million and an ROI of 27:1. The SREDA team had another successful year of delivering intiatives and programs to strengthen and grow the Saskatoon Region economy. A highlight this year was winning multiple awards in recognition of our work promoting the Saskatoon Region, Alex Fallon, President and CEO of SREDA 2018 ECONOMIC IMPACT $52 MILLION 2018 ECONOMIC IMPACT ROI 27:1 For every $1 invested in SREDA, SREDA helped generate $27 of economic impact in the Saskatoon Region economy. $18.98M Business & Investment Attraction $33.09M Business Expansion & Job Creation ANNUAL REPORT TO THE CITY OF SASKATOON // 2018 SREDA RESULTS 5
2018 Awards Local: NSBA Team Building Award Provincial: Saskatchewan Economic Development Association (SEDA) International: International Economic Development Council (IEDC) Gold Award When we launched The Saskatoon I Know, our goal was to create a sense of pride among Saskatoonians for the city they call home and also to present Saskatoon on the international stage. We were blown away by the response and award Within six months of the video being launched, we not only had our video viewed in more than 50 countries, but we also won a provincial award from SEDA and an international award from the IEDC. In order to grow, we need more people to know about the Saskatoon Region and if the video helps that, that is a great thing. Alex Fallon, President and CEO of SREDA ANNUAL REPORT TO THE CITY OF SASKATOON // 2018 SREDA RESULTS 6
2019 PRELIMINARY BUDGET
2019 Revenue SREDA REVENUE City of Saskatoon (Base) $839,800 City of Saskatoon (Performance) $110,000 Regional Members $70,000 Private Sector Investors $150,000 Federal Government - WD/SQ1 $667,029 Federal Government - WD/Other $25,000 Fee for Service: Contracted (e.g. SINP) $75,000 Fee for Service: Adhoc (e.g. IE Studies) $25,000 Sponsorship $50,000 Other Revenue (e.g. ticket sales) $40,000 P4G Regional Plan Funds $572,530 TOTAL SREDA REVENUE $2,624,359 ANNUAL REPORT TO THE CITY OF SASKATOON // 2019 PRELIMINARY BUDGET 8
2019 Expenses SREDA EXPENSES Salaries $1,450,257 Rent $87,500 Operations (HR, IT, Finance) $80,000 Administration $80,000 Management/Projects $60,000 P4G Regional Plan $572,530 SUBTOTAL $2,330,287 Pillar 1: Business Attraction and Expansion $50,000 Pillar 2: Regional Affairs $40,000 Pillar 3: Entrepreneurship $90,000 Pillar 4: Indigenous $25,000 Pillar 5: Economics $25,000 Pillar 6: Marketing $55,000 SUBTOTAL $1,493,874 TOTAL SREDA EXPENSES $2,615,287 TOTAL SREDA REVENUE $2,624,359 TOTAL SREDA EXPENSES $2,615,287 2019 SURPLUS $9,072 ANNUAL REPORT TO THE CITY OF SASKATOON // 2019 PRELIMINARY BUDGET 9
2019 TARGETS
Key Performance Indicators PILLAR PERFORMANCE INDICATOR % Business Attraction & Expansion 1.1 Assist 2 local businesses to expand operations in the Saskatoon Region that 10 result in a minimum of 10 new jobs. 1.2 Attract $15M of new business investment to the Saskatoon Region. 10 Entrepreneurship Regional Economic Development & Planning Indigenous Economic Development 2.1 Assist at least 25 entrepreneurs in the Saskatoon Region to establish a small business. 2.2 Assist at least 5 entrepreneurs in the Saskatoon Region to grow their small business. Support the development of a District Planning Commission for the 3.1 Saskatoon North Partnership for Growth (P4G). 3.2 Deliver at least one economic development project to each of the 15 municipalities that comprise SREDA s regional membership. 4.1 Assist at least 2 Indigenous businesses or organizations in the Saskatoon Region to grow or expand (e.g. access procurement opportunities, partner on developments, access funding, etc.). 4.2 Report on the Saskatoon Region s progress on responding to the TRC s Calls to Action related to Economic & Business Development. 10 10 10 10 5 10 Economic Intelligence 5.1 Lead the development of a City of Saskatoon Economic Growth Plan. 5 5.2 Release 10 forecasting reports on the Saskatoon Region economy. 5 Marketing the Saskatoon Region & Talent Attraction 6.1 Build and execute a talent attraction strategy for the Saskatoon Region that supports growth in key employment sectors. 6.2 Develop a new website to promote the benefits of the Saskatoon Region economy. 5 10 TOTAL 100 ANNUAL REPORT TO THE CITY OF SASKATOON // 2019 TARGETS 11
Economic Impact Target ANNUAL REPORT TO THE CITY OF SASKATOON // 2019 TARGETS 12
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