Economic Development Budget Presentation 5 Year Financial Plan: - - PowerPoint PPT Presentation

Economic Development Budget Presentation 5 Year Financial Plan: 2016 - 2020

Pat Deakin CPA EDM Wed Jan 20th, 2016

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“all along the mountains and sea”

ACKNOWLEDGE TRADITIONAL TERRITORY

Council’s Strategic Plan Initiatives Assigned to EDM

Connected Community Environmental Stewardship Livability Revitalizing the Economy Responsive Government AVRA Runway IRRFS Streetscape Appeal CRTEB Waterfront Development Opportunities 2nd Route DES Graffiti Removal Re-Branding Clutesi Haven Marina RFP Acquire Waterfront Lands Economic Sectors Opportunity Analysis Community Marketing & Promotion on Johnston Road

Other Initiatives Assigned to EDM

• SPROUT: Council Motion
• Clarify external marketing roles: Council Motion
• Business Retention: Job Description
• Business & Investment Attraction: Job Description
• Diversification of Economy: Job Description
• 2016/17 Islands Agriculture Shows: RD commitment

2016 Work Plan for Assignments

Page 1 of 2

Initiative Notes Q1 Q2 Q3 Q4 AVRA Secure then Market x x x x 2nd Route Monitor Business Plan x x IRRFS no action contemplated DES Stakeholder Liaison x x Streetscape Appeal Marketing via Johnston Rd Charette x x Graffiti Removal Negotiate Partnership x Acquire Waterfront Lands As Opportunities Arise x x x x CRTEB In Progress x x Re-Branding In Progress x x x Economic Sectors Analysis x x x Waterfront Development Fisherman’s Harbour x x x x

2016 Work Plan for Assignments

Page 2 of 2

Initiative Notes Q1 Q2 Q3 Q4 Clutesi Haven Marina RFP In Progress x x SPROUT In Progress x x x x Clarify External Marketing AVT, Chamber, Businesses Events, x x Business Retention See Next Slide x x x x Business Attraction See Next Slide x x x x 2016 & 2017 Islands Ag Show In Progress x x

2016 Economic Sector Initiatives

Sector Next Step Aerospace AVRA runway extended Agriculture Water study completed Alternative Energies Compare Feasibilities Arts Co-op to market artists Fisheries Ensure hatcheries funding Health Care Assist proposals for multi-level care High-Value Wood- Biomass Financing for Kei-Tec, bio-diesel or CLT Marine Industries Lobby for government contract Post-Secondary Training Leverage NIC, JI and PCU-WHS Tech Building & Housing for Entrepreneurs Tourism Review VES; Clarify External Marketing Water-Intensive Industries Follow Up on Overtures

Economic Development Assistant’s Work

Initiative % of Time Note Project based work 25 VES, Business Walks, MISA conference, etc. Respond to External Inquiries 15 Phone calls, emails, OTC Meetings 15 Participation, preparation, follow-up Assistance to or Respond to Other Departments 10 Cover Bottom Floor Front Desk Respond to Inquiries Invoicing 10 Other Administration 10 Time management, filing, mileage report, new business reports, etc. Update ED pages on website 5 Research 5 Assist with Grant Applications 5 100

2015 Budget & 2016 Request

Locator Item 2015 Budget 2015 Trial Balance 2016 Request

Page 13 Line 56 Function: 14560

Revenue $22,500 $28,833 $22,500

Page 21 Line 203 Function: 26234

Business Development $45,000 $34,557 $26,200

Page 21 Line 204 Function: 26235

Economic Development $309,700 $275,747 $326,009 ST Requisition

• $332,200
• $329,709
• 0.75%

2016 Budget Allocation

Investment

EDM & EDA Pay/Benefits: 56.1% Marketing: 33.8% Consulting: 7.1% Other: 2.9%

Proposed Budget 2016 - 2020

Function 2016 2017 2018 2019 2020 Revenue $22,500 $22,500 $22,500 $22,500 $22,500 Business Development $26,200 $26,200 $26,200 $26,200 $26,200 Economic Development $326,009 $328,826 $331,901 $334,813 $$337,772 ST Requisition

• $329,709
• $332,526

0.85%

• $335,601

0.92%

• $338,513

0.87%

• $341,472

0.87%

EDM Proposed Goal

20,000 People Living in Community

Why the Goal?

Year 1967 1971 1991 2001 2011 2014 Population: Statistics Canada 18,538 20,063 18,403 17,743 17,743 Population: BC Stats Estimates 16,683

Achieving Goal Will Produce

• > Homes
• > Jobs
• (possibly) > businesses
• Sharing of Taxes
• ^ Property Assessments

Goal Requires

• A Community We Are Proud Of
• Image Improvements
• Successful Appeal to Target Markets
• Everyone Working Together

Hishuk ish tsawalk

Everything is One and All is Interconnected

Social Issues Response to Issues Look of Community Attitude Way We Talk About PA Online Chatter Weather Economic Sectors

ATTRACTION OF GOOD MEDIA, BUSINESSES, INVESTMENT, RESIDENTS & MORE

A Community We Are Proud Of

 Attractive  Has the Facilities & Amenities We Want  Full of Festivals & Events  Other ‘Cool’ Things Going On  Winners <> Good News Stories  Facing Up to Challenges: Crime, Safety, Poverty, Illiteracy, Health  Stewarding Resources <> Reducing Impact on our Environment  Increasing Access  Beyond Friendly <> Caring <> Sense of Community  Doing Our Share  Getting the Word Out  Contagious Excitement  Financially Sustainable  Growing Sectors of Economy

Image: Negative Notions About Us

Negative Counterpoint Negative Counterpoint Industrial Sustainable Resources Other Sectors Growing ‘Old Boys Network’ Invitation to Engage Smelly Not True Not Open to Change Changing ‘Red-Neck’ Work Hard Play Hard Not Friendly to Business Tax Rate Multiples SPROUT Rain & Fog in Winter Abundant Water Not ‘Memorable’ Council Focus on Johnston Rd & other Low Socio-Economic Scores Many Agencies & Programs Not ‘Pretty’ Council Focus on Johnston Rd & other Don’t Care About Environment WCA & industry certification standards High Crime Rates Prevention Strategies CRS working Poor Air Quality Adopting Measures Over the Hump It’s a short haul

Image: Positive Notions About Us

Positive Beyond Friendly Good Fishing Good Sports Facilities Hot Summers Outdoor Access Affordable Housing Family Oriented Many Artists Great ‘Light’ Abundant Water Lots of Potential Modern Hospital w Atrium New High SChool

Image Improvements Accomplished By

• Addressing Issues
• Getting the Word Out
• Telling Positive Stories That Stick
• Earning Endorsements from Others
• Increasing Curb Appeal
• Celebrating Successes
• Adding New Events
• Having Fun

Appealing to Target Markets

Those Who Are Here Boomers Early Retirees Immigrants Properties that Hold Their Value Attractive Properties That Hold Their Value Welcome Affordable Taxes Affordable Taxes ESL/Literacy Health Care Health Care Support Jobs Ease of Travel Jobs Parks & Recreation Parks & Recreation Access to Outdoors Access to Outdoors Third Places Third Places Good Education Opportunities Volunteer Opportunities Good Education Opportunities Safe Place Safe Place Safe Place Abundant Clean Water Abundant Clean Water Abundant Clean Water

Appealing to Millennials:

Generalities About The Demographic

• Born between 1980 and 2000
• Larger Cohort than Baby-Boomers
• 1st Digital Natives
• Less Money to Spend
• Encumbered with Debt (student loans)
• Different Priorities (putting off marriage & home ownership)
• Access > important than ownership
• Looking for products w/ max convenience at lowest cost
• Strong Brand not enough to lock in sale
• Turning to social media for purchasing decisions
• Buy online
• Quality key but Price > important than other generations
• > Focus on wellness

Appealing to Millennials

Tactics for Appealing to Millennials Strategies

• 1. Authentic Online Content

Blogs Vlogs

• 2. Customer-Driven

Personalized Marketing Work w/ Those Who Are Here

• 3. How To…

Videos

• 4. Educational Content w/

Their Interests (not $) in Mind Videos

• 5. Content Marketing

Pictures; Videos Influencers >>> Fam Tours

• 6. Collaboration

Invitation

• 7. Use > Ownership

Ownership is Possible Here

• 8. Have Fun

Initiate Events Tech Sector <> Creative Industries Jobs Opportunities to Play

Choose an Issue > Form a Task Force

Area of Concern

• Crime
• Health
• Safety
• Poverty
• Illiteracy
• etc.

Criteria

• Is it in our jurisdiction?
• Is it in our mandate?
• Do we have the resources for it?
• How big a concern is it to residents?
• How big a factor is it in choosing PA?
• What provides the biggest gains?
• What would draw most positive media?
• Is there a champion in the community?
• What would galvanize partners?

Choose a Focus > Form a Task Force

Area of Concern

• r Focus
• Hospitality
• Livability
• New Events
• etc.

Criteria

• How big a concern is it to residents?
• How big a factor is it in choosing PA?
• What provides the biggest gains?
• What would draw most positive media?
• Is there a champion in the community?
• What would galvanize partners?

Map the Plan

Economic Sectors More Opportunities to Play Infrastructure & Curb Appeal High-Value Wood-Biomass Cluster Zip Line Roger Creek Ravine; Alberni Inlet Johnston Rd Improvements Aerospace Industry Mountain Bike Trails Community Forest; Copper Mtn.; Beauforts; Lower 3rd Avenue Median Agriculture Value-Added Water Sports Base Canal Beach; Sproat Lake; China Creek; Great Central; Macktush Waterfront Developments Tech Sector / Creative Industries Timed Lookout Challenge Active Transportation Network Marine Industries Handcar/pump-car/speeder velocipede New Aquatic Centre etc. etc. etc.

Proposed Additions to 2016 Work Plan

Initiative Notes Q1 Q2 Q3 Q4 Attract New Residents Partner w Realtors Work w Millennials x x x x Improve Community Image Blogs Video Pictures Addressing Issues x x x x Task Force on Chosen Issue x x x x More Opportunities to Play x x x x