City of Brampton Economic Development Plan Executive Summary

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1 City of Brampton Economic Development Plan Executive Summary

2 TABLE OF CONTENTS 03 MESSAGE FROM THE MAYOR 04 MESSAGE FROM THE CHAIRMAN, ECONOMIC DEVELOPMENT COMMITTEE 05 CURRENT SITUATION 07 ECONOMIC DEVELOPMENT OVERVIEW 08 ECONOMIC DEVELOPMENT GOALS AND OBJECTIVES ( ) Goal 1: Business Engagement Goal 2: Entrepreneurship Goal 3: Creative Economy Goal 4: International Business Investment Attraction Goal 5: Domestic Business Investment Attraction Goal 6: Positive Business Climate Goal 7: Corporate Advocacy for Infrastructure Goal 8: Tourism and Film Goal 9: Economic Growth of the Central Area 11 ANNUAL BUSINESS PLANNING PROCESS 2

3 MESSAGE FROM THE MAYOR Together, we are embarking on a new era in Brampton. Our Economic Development Plan is a key component of our renewed commitment to the effort and engagement needed to build a strong and healthy community in Brampton. Brampton is clearly a city worth investing in, and the coming years will offer opportunities for further growth as we focus on management with transparency, partnerships with business and other levels of government, and key sectors with the promise to help propel Brampton to the next level of development. Brampton is poised for growth across several key sectors. Leveraging Brampton Civic Hospital and the development of Peel Memorial Centre for Integrated Health and Wellness and ErinoakKids Centre for Treatment and Development, Brampton is uniquely positioned for investment in health sciences, placing us on the leading edge of health care delivery. With a strong academic and commercial base in Advanced Manufacturing, opportunities abound to expand our presence in this sector, and partnerships with business, government and educational institutions hold great promise. Brampton understands the importance of being able to move our talent around and we understand the importance of moving goods. Connecting businesses and people, locally, regionally and nationally, continues to be a priority Most importantly Brampton s future will be powered by our diversity. A diverse and dynamic business community defines who we are and will also provide a continuous source of innovation, creativity and growth. Success will be facilitated by our ongoing partnerships. By working together, we can unlock the full potential of this great community. Linda Jeffrey Mayor of Brampton 3

4 MESSAGE FROM CHAIRMAN OF ECONOMIC DEVELOPMENT COMMITTEE I am pleased to present the City of Brampton s Economic Development Plan. It is a plan based on cultivating meaningful partnerships with our business community. It is designed to strengthen connections and share ideas the kinds of collaboration that ensures excellence and creativity are the foundation of our local economy. We have engaged with Brampton business leaders and listened to what they said. Brampton's Economic Development Plan is built on what our business community is saying we need to do to succeed together. We will continue to nurture our existing partnerships and we will build new connections locally, regionally and internationally. The strategies outlined in this Plan will build on these partnerships and connections to create exciting economic opportunities. The City of Brampton s Economic Development Plan engages our partners and puts the pieces in place to grow our local economy. We re ready to do business in Brampton. City Councillor Jeff Bowman Chair Economic Development Committee 4

5 CURRENT SITUATION Brampton is the 9th largest city in Canada, the 4th largest city in Ontario and the 3rd largest city in the Greater Toronto Area. Brampton is a designated growth centre within the Province of Ontario. Population and Employment Growth With a population approaching 627,500 in 2016, it is expected to reach 842,300 people by It currently has the 2nd highest growth rate among Canada s 50 largest cities. In keeping the pace, Brampton s 2016 employment of 206,750 will exceed 292,780 by the year Brampton contains 2,840 acres of vacant employment land, one of the largest inventories of vacant employment land in the Greater Toronto Area. Economic Growth and Diversity Brampton has a robust, diversified economy and is home to more than 8,600 businesses. Seventy-two per cent of these are service-producing companies, and, 28 per cent are goodsproducing. Top 10 companies in Brampton by employment: 1) Rogers Communications 2) FCA Canada 3) Loblaw Companies Ltd. (HQ) 4) Canadian Tire Distribution Centre 5) Maple Lodge Farms (HQ) 6) Technicolor Canada Inc. 7) Coca- Cola Bottling Company 8) Waste Management of Canada 9) TJX Canada 10) Dynacare Brampton s Growth Sectors include: 1) Advanced Manufacturing 2) Health and Life Sciences 3) Retail Administration and Logistics 4) Business Services 5) Information Communication Technology 6) Food and Beverage 5

6 Refined Priorities In October 2014 a newly formed Council was elected representing the City of Brampton. Under this new Council, an Economic Development Committee was established consisting of the Mayor (ex officio) and Council as members. The Economic Development Committee determined that there were six economic development priorities required to be addressed over the 4-year term of Council. 1) Downtown and Queen Street Corridor Economic Growth Initiatives 2) Business Engagement (BR&E) Grow Businesses from Within (Economic Gardening) 3) Support Advocacy for Infrastructure Expansion 4) Innovation and Entrepreneurship 5) International and Domestic Business Investment (Attraction) 6) Business Climate and Image Intended Outcomes By facilitating these six priorities the City will lead to promote and encourage the following outcomes: 1) Economic Growth and Vitality 2) Business and Employment Growth i) Increased domestic and foreign investment ii) Generate wealth and prosperity (strengthen quality of life) iii) Increased assessment/tax revenue 3) Positive Business Climate and Business Experiences 4) Positive Business Profile and City Image as an Investment Location 5) Monitor and Measure Economic Performance and Results Engagement with Business Leaders Using these top priorities, the Economic Development Office was assigned to develop a Brampton Economic Development Plan The Economic Development Committee, Economic Development staff, the business community and the Brampton Board of Trade all provided input into the Plan. The following meetings were held: Economic Development Committee Meeting January 21, 2015 Economic Development and Tourism Staff Workshop - February 17, 2015 Economic Development Business Community Workshop - March 2, 2015 Brampton Board of Trade Seminar March 10, 2015 Opportunity to provide feedback online throughout the engagement process 6

7 ECONOMIC DEVELOPMENT OVERVIEW Mission Statement Strengthen Brampton s outstanding quality of life by encouraging economic growth, innovation and entrepreneurship that enhance the City s brand and residents lifestyles. Economic Development and Tourism Department Overview Leveraging the collective resources and expertise within Economic Development and Tourism promotes Brampton in order to attract growth and investment. The division identifies target industries and supports key economic sectors that meet Brampton s long term objectives for generating employment, ensuring alignment with land use plans and environmental sustainability. Economic Development and Tourism promotes the City through advertising, marketing and special events to increase Brampton s profile in the industrial and commercial marketplace as a competitive location for investment. 7

8 ECONOMIC DEVELOPMENT GOALS AND OBJECTIVES ( ) The Economic Development and Tourism Office invited feedback from the business community, the Brampton Board of Trade and Economic Development staff through focus groups and an online survey. The input received led to the development of specific objectives addressed in the next eight goals. GOAL 1: Business Engagement (BR&E) Grow Business from Within (Economic Gardening) The majority of new jobs that will be generated in the coming years will be created by companies/businesses already operating in the Brampton business community. Understanding and assisting Brampton s existing owners with their business challenges is fundamentally important to ensuring that they thrive and expand to their fullest potential. OBJECTIVE 1.1: Collect intelligence on the local business community in order to have a clear understanding of Brampton s business make up and their expansion needs. OBJECTIVE 1.2: Engage the business community in economic development initiatives and networking opportunities and help provide external input to develop better collaboration. OBJECTIVE 1.3: Market the City of Brampton to the business community, influencers and investors through a variety of opportunities. OBJECTIVE 1.4: Increase business development, marketing and networking activities in the Industrial-Commercial-Investment (ICI) real estate sector. GOAL 2: Create a Culture of Innovation to Facilitate and Support Entrepreneurship Entrepreneurship is a driver of business and technological innovation and is a stimulus for economic development. Supporting a culture of entrepreneurship and encouraging business start-ups for growth and employment will be a positive contributing factor to Brampton s economy. OBJECTIVE 2.1: Engage and work with youth to develop their entrepreneurship skills by understanding and expanding youth initiatives within the city, and increasing the number of sustainable start-up businesses located in the City. OBJECTIVE 2.2: Create and provide opportunities for entrepreneurs to encourage business start-ups including such initiatives as an incubator space, mentorship program, promotion of the availability of grants and others ways to help to simplify the start-up process. OBJECTIVE 2.3: Strengthen the entrepreneurial industry by leveraging partnerships and policies that stimulate an innovative business climate. 8

9 GOAL 3: Create a Culture of Innovation to Facilitate and Support the Creative Economy Creative industries refer to a range of economic activities which are concerned with the generation or exploitation of knowledge and information. The creative economy recognizes nine creative sectors: advertising/marketing; architecture; crafts; design; film; Information Technology; publishing; museums/galleries/libraries; music/performing/visual arts. Numerous studies show that metropolitan regions with high concentrations of creative knowledge workers exhibit a higher level of economic development. OBJECTIVE 3.1: Engage and work with youth to develop their business acumen by understanding and expanding youth initiatives, resulting in an increased number of sustainable creative economy businesses located in Brampton. OBJECTIVE 3.2: Create and provide opportunities for entrepreneurs in the creative economy including such initiatives as an incubator space, mentorship program, the availability of grants, and other ways to help simplify the start-up process. OBJECTIVE 3.3: Strengthen the innovative and creative industry by leveraging partnerships and policies that stimulate an innovative business climate. GOAL 4: Increase International Business Investment Attraction Targeting Small and Medium Enterprises (SMEs) in priority sectors including Health and Life Sciences, Advanced Manufacturing, Food and Beverage, Information and Communications Technology in the following target markets including the USA, Europe, India, China, South and Central America. OBJECTIVE 4.1: Facilitate strategic alliances between Brampton companies and international business interests by expanding partnerships and partnership programs, including advertising and promotion activities such as event co-hosting and networking. OBJECTIVE 4.2: Support the growth and retention of Brampton companies through the promotion of exporting opportunities and other international economic activities. OBJECTIVE 4.3: Leverage Foreign Direct Investment (FDI) opportunities through marketing and policy research by promoting Brampton in international markets and industry sectors, with particular focus on supporting the formation of a new central GTA FDI agency. GOAL 5: Increase Domestic Business Investment Attraction Targeting industry in priority sectors including Health and Life Sciences, Advanced Manufacturing, Food and Beverage, Information and Communications Technology, Retail Administration and Logistics and Business Services from within Canada. OBJECTIVE 5.1: Leverage domestic investment opportunities through marketing and policy research by promoting Brampton in domestic markets and industry sectors. 9

10 GOAL 6: Support a Positive Business Climate and City Image Cities with a positive business climate and city image are magnets for investment. By ensuring that Brampton is seen as a business friendly city, optimum opportunities will be attracted to the city. OBJECTIVE 6.1: Develop and implement a program to improve the image of the city for business investment, building pride through marketing and positive community news stories. OBJECTIVE 6.2: Foster a service excellence culture by being more responsive to business needs. GOAL 7: Support Corporate Advocacy Efforts for Infrastructure Provide corporation with economic/business case information in support of advocacy initiatives to increase investment in regional infrastructure. OBJECTIVE 7.1: Support corporate advocacy efforts for infrastructure to support the business community, such as (1) High order Transit (2) Post-Secondary Education (3) and, other strategic infrastructure projects identified by Council. GOAL 8: Tourism and Film To support and promote Brampton tourism and film. OBJECTIVE 8.1: Expand the tourism and film program to make Brampton a destination of choice for visitors and filming. GOAL 9: Economic Growth of the Central Area To support economic growth and continued prominence of Brampton s Central Area through the development of the Office of the Central Area s mandate and priorities. OBJECTIVE 9.1: Develop a hospital innovation hub around the new Peel Memorial Centre for Health and Wellness. OBJECTIVE 9.2: To promote stakeholder engagement to facilitate opportunities for businesses to locate in the Central Area. OBJECTIVE 9.3: Collaborate with key internal stakeholders on major initiatives in the Downtown and Central Area. 10

11 ANNUAL BUSINESS PLANNING PROCESS The commitment to the Economic Development Plan is essential in driving measurable results. In order to stay aligned with economic growth patterns, it is recommended that this plan be revisited every year. Changes should be reflected in the annual budget planning process and in the work plans for the respective year. Building on the grass roots nature of this plan, it is recommended that stakeholder feedback and input is sought on an annual basis. That might include workshop sessions with Brampton Board of Trade members and/or interaction with the business community at large. Based on the feedback from stakeholders, Economic Development Committee involvement will be required for guidance and direction to shape the respective year s Business Plan. The current approved Economic Development and Tourism budget of $2.667 million will continue to provide the base funding for the execution of the plan. Any enhancements or mitigations will be part of the annual budget approval process. For a full report and further Economic Development information see 11

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