Outline for Economic Development Activities

Transcription

1 Outline for Economic Development Activities District of Squamish

2 Executive Summary This document proposes three phases of economic development activity for the District of Squamish (DOS), covering the period Phase I ( looking inward ) focuses on ensuring Squamish retains and enhances the businesses and sectors that are currently in Squamish. This phase includes a business retention and enhancement program predicated on understanding the issues currently facing Squamish businesses and addressing those issues; aligning DOS policies and procedures with an economic development focus; coordinating the efforts of the various organizations involved with economic development; and establishing a system for effectively responding to inquiries. Phase II ( connecting inward to outward ) leverages Squamish s existing businesses to prepare for business expansion and attraction. This phase includes programs designed to strengthen existing businesses, communicate successes, and establish partnerships with key organizations. Phase III ( looking outward ) is designed to complement existing businesses with efforts to bring in synergistic new businesses. This phase rests on the identification of potential new businesses, and includes marketing efforts to attract the identified businesses. Each phase builds on the previous, and once completed, is designed to include components that will continue in perpetuity. The entire approach is predicated on the recognition that economic development successes (defined as jobs in Squamish) will come primarily from businesses that already exist in Squamish, and that future growth will be mostly synergistic with existing sectors. As the Central Okanagan Economic Development Commission writes: the majority of wealth in a community in generated by its existing business base

3 Background and Context Advisory Committee Work in 2010 Recommendations The following recommendations were advanced by the Economic Development Advisory Committee in 2010: 1. Enhance the Squamish brand and competitive advantage 2. Separate SAC management from economic development functions (completed) 3. Refocus the economic development corporation 4. Roll-out an implementation strategy in support of goals and targeted sectors 5. Assign priorities based on a committed budget 6. Formalize strategic partnerships Goal of Economic Development The following primary goal for economic development activities in Squamish, was advanced by the Economic Development Advisory Committee in 2010: Employment opportunities that are -for people already living in Squamish -well paying -stable throughout economic cycles -inclusive of professionals -able to drive population Target Sectors The following target sectors were articulated by the Economic Development Advisory Committee in 2010: Tier I Sectors: Port and marine businesses Tourism Green businesses Rec tech Recreation Health care Tier II Sectors: Construction Regional service centre businesses Education and training Arts Film Other Sectors High tech Wood products and timber industry Transportation (rail, highway, water, air) Regional professional services Senior-focussed businesses and care The sectors listed above may not be mutually exclusive, and the Advisory Committee recognized the need to better understand the opportunities and constraints that each of these sectors face in Squamish

4 Purpose of this Document This document provides a broad outline of the economic development activities for the District of Squamish over the next five years. It builds on the District s economic development efforts of the past, and on the thinking of the 2010 Economic Development Advisory Committee, while incorporating lessons from activities in other jurisdictions. This document proposes three phases of economic development activities, each building on the work of the previous phase, and each predicated on the approach that 80% of effort should directed towards business retention, maintenance, and reaction to inquiries. This document is also designed to leverage what is already working in Squamish, rather than looking outside of Squamish for a new economic engine. The proposed three phases looking inward, connecting inward to outward, and looking outward recognize the irreplaceable value of Squamish s existing businesses, and the importance of working with existing businesses. It is assumed that the activities in each phase will continue as subsequent phases are launched, and that the 80% focus on retention, maintenance, and reaction to inquiries will be maintained even after launching phase three. Work Plan Phase I - Looking Inward I. Retention and Expansion Program 1. Outreach to existing businesses In order to understand the needs, concerns, and plans of Squamish s existing businesses, it is recommended that DOS reach out to representative business leaders in each of Squamish s existing business sectors, including representatives from each size category of businesses. The objective of this step is to gain an up-to-date understanding of what enticed businesses to locate in Squamish, what issues they are currently facing, and what they are looking for to remain in Squamish and expand their operations. Invite all Squamish businesses to complete a Business Retention and Expansion survey on-line Conduct interviews with representative business leaders from all of the existing business sectors Conduct interviews with representative business leaders from businesses of all size categories Initiate a business visitation program (intended to be ongoing) Convene a workshop for all interviewed business leaders to confirm findings 2. Prioritization of Systemic Issues It is recommended that DOS, based on the information gathered in step #1 above, identify the systemic issues facing each sector and size category of existing businesses, and prioritize the issues. Prioritization should be based on the need to address each issue in order to achieve the goal of economic development (which has been identified as jobs ). This prioritization of issues will then inform business retention strategies. Identify the systemic issues facing each sector and size category of business Prioritize the systemic issues based on the objective of retaining and creating jobs 3. Respond to Systemic Issues & Specific Concerns For each of the prioritized systemic issues, DOS should craft a set of strategies aimed at addressing the issue. These strategies may then be taken up by either DOS or another ED organization (see below). As well, there may be specific concerns identified in step #1 that warrant an immediate response by DOS or a tweaking of existing policy or practice. Identify strategies to address the prioritized systemic issues Address any specific concerns that require only minor adjustments to existing policy and practice Workshop the identified strategies with the business leaders brought together in step #1

5 4. Implement Strategies Following attempts to coordinate economic develop efforts with other economic development organizations as outlined below DOS should take on the appropriate strategies identified in step #3 above. Identify and implement the strategies listed in step #3 that are appropriate for DOS 5. Monitor Results The efficacy of implemented strategies in achieving the objective of economic development activities jobs should be evaluated on at least an annual basis. Review the efficacy of strategies in retaining and creating jobs Workshop results with the business leaders brought together in step #1 II. Put House in order It is recommended that DOS use the results of part I above to evaluate all existing policies and procedures to identify and implement any simple changes that might help address the systemic issues. By better understanding the issues faced by existing Squamish businesses, DOS will be able to better make ongoing decisions that will support business retention and expansion. Review the identified systemic issues against DOS policies and procedures to identify any simple changes that would help Communicate the identified systemic issues to Mayor and Council, and to DOS staff, so that future decisions are made with an eye to business retention and expansion III. Coordinate the existing economic development organizations There are many organizations attempting to advance economic development in Squamish. However, the efforts are not effectively coordinated, there is only ad hoc communication between the organizations, and there is a significant risk that work is being duplicated and available synergies are being missed. Following the assessment of systemic issues outlined in part I above, it is recommended that DOS convene a gathering of all organizations working on economic development in Squamish in order to initiated a coordinated approach. Convene a workshop of all ED initiatives to: o share the systemic issues identified in part I o share this 5-year activity outline ( looking inward, connecting inward to outward, looking outward ) o allow for a shared understanding of each organization s objectives and workplans o agree to a coordinated approach Assume the role of coordinator of economic development efforts of all attending organizations

6 IV. Respond to outside inquiries Essential to any economic development effort is the ability to effectively respond to inquiries, whether actively pursued or not. Companies that, for whatever reason, have decide to consider establishing or expanding operations in Squamish, must be given thorough and consistent support in their deliberations. At a minimum, all such inquires must be given prompt service, full access to all available information, and as consistent a message as possible from all sources. Unless inquires are taken full advantage of, there is no point in expending effort on luring new inquiries. Standardize process for responding to inquiries Standardize information content and message given to inquiries Coordinate inquiry response process with all ED organizations, Mayor and Council, DOS staff, and partner organizations, so that every inquiry is routed through the same process and given the same high level of support Phase II - Connecting Inward to Outward I. Strengthening what we have Supporting and strengthening the businesses and sectors in Squamish that are already established serves to both protect and enhance what we already have, and also proves to the outside world that business success happens in Squamish. Actively supporting existing businesses serves to strengthen the economic base, and invites new operations to join the growth and success. Networking events for Squamish businesses (to create an environment of mutual support and enthusiasm) Buy-local program (using the DOS budget to directly support Squamish businesses) Youth entrepreneur program (supporting existing Squamish youth to stay in Squamish and create jobs or themselves and others) business incubation program (supporting existing Squamish residents of any age to stay in Squamish and create jobs for themselves and others) II. Communications There are many powerful stories of success in Squamish, and it is recommended that the DOS continue to leverage these stories in order to both enhance local confidence and pride, and to entice outside companies to consider locating in Squamish. Develop a communications plan to improve the story telling of Squamish businesses and sectors, to both an internal and external audience III. Partnerships In addition to the various organizations involved with economic development efforts (as identified in Phase I), there are a few key organizations that have specific capacities to support economic development in Squamish. These include the Squamish Nation, the Resort Municipality of Whistler, Quest University, BC Rail, Squamish Terminals, and the Squamish Oceanfront Development Corporation.

7 Meet with each of the above-listed organizations to identify mutually beneficial activities related to economic development With each of the above-listed organizations, sign a memorandum of understanding (MOU) that outlines agreed-to actions to be taken in support of economic development. Phase III - Looking Outward I. Identify synergistic target areas Phase I and Phase II of this strategy will result in a clear understanding of Squamish s existing business sectors and significant momentum to strengthen those sectors. Following on this momentum, may be a realization that there are horizontal or vertical gaps in each sector s production network, or that there may be complementary sectors that are missing in Squamish. These gaps represent obvious targets for attracting new businesses to Squamish. Interview business leaders in existing sectors to help identify synergistic businesses to target Create a list of potential target business types, and conduct a feasibility analysis in order to rank potential business targets in terms of the goal of economic development (jobs), synergistic benefits, and ease of attracting target companies II. Marketing and business attraction program A marketing program, tailored to the business types identified in step #1 above, will increase the chances that efforts to attract new businesses to Squamish will successful. Create and implement a marketing and business attraction program aimed at attracting the new businesses identified as synergistic to Squamish s existing business sectors III. Ambassador program In addition to the tailored marketing program, it is recommended that Squamish launch an ambassador program in which volunteers are invited to promote Squamish. The program will include training and consistent messaging, and will enable selected volunteers to incorporate the promotion of Squamish into their day-to-day business and professional activities. As respected spokespeople for Squamish, the ambassadors will extend the reach of Squamish s marketing program and will insert Squamish s economic development into the schedule of many people and organizations that would otherwise not be involved. Develop an ambassador program complete with resources, training, and messaging Invite community leaders to volunteer to be part of the program, and support their efforts in doing so Timeline The three phases in this outline should be understood as incremental and continuing. Each phase builds on the work of the previous, but it is recommended that most aspects will continue in perpetuity in some form. Note that all the work in a particular phase is to be completed once before moving on to the next phase. The chart below illustrates the proposed timing for implementing Phase I (Q onward), Phase II (Q onward), and Phase III (Q onward). Phase I Phase II Phase III

8 To Learn more about this report or to contact the Economic Development Department, please use the contact information below: General Inquiries: Hours: Monday to Thursday 8:30 a.m. to 5:30 p.m. Friday 8:30 am to 4:30 p.m.