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 20 th , 2016

“all along the mountains and sea” ACKNOWLEDGE TRADITIONAL TERRITORY 2

Council’s Strategic Plan Initiatives Assigned to EDM Connected Environmental Livability Revitalizing the Responsive Community Stewardship Economy Government AVRA Runway IRRFS Streetscape CRTEB Waterfront Appeal Development Opportunities 2 nd Route DES Graffiti Re-Branding Clutesi Haven Removal Marina RFP Acquire Economic Sectors Waterfront Opportunity Lands 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 2 nd Route Monitor Business Plan x x IRRFS no action contemplated DES Stakeholder Liaison x x Streetscape Appeal Charette x x Marketing via Johnston Rd 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 x x Events, 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 10 Cover Bottom Floor Front Desk Other Departments 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 2016 Request Balance Page 13 Line 56 Revenue $22,500 $28,833 $22,500 Function: 14560 Page 21 Line 203 Business $45,000 $34,557 $26,200 Function: 26234 Development Page 21 Line 204 Economic $309,700 $275,747 $326,009 Function: 26235 Development 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 $26,200 $26,200 $26,200 $26,200 $26,200 Development Economic $326,009 $328,826 $331,901 $334,813 $$337,772 Development ST Requisition -$329,709 -$332,526 -$335,601 -$338,513 -$341,472 0.85% 0.92% 0.87% 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 ATTRACTION OF GOOD MEDIA, Attitude BUSINESSES, INVESTMENT, Way We Talk About PA RESIDENTS & MORE Online Chatter Weather Economic Sectors

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 ‘Old Boys Invitation to Resources Network’ Engage Other Sectors Growing Smelly Not True Not Open to Changing Change ‘Red-Neck’ Work Hard Not Friendly to Tax Rate Multiples Play Hard Business SPROUT Rain & Fog in Winter Abundant Water Not ‘Memorable’ Council Focus on Johnston Rd & other Low Socio-Economic Many Agencies & Not ‘Pretty’ Council Focus on Scores Programs Johnston Rd & other Don’t Care About WCA & industry High Crime Rates Prevention Environment certification Strategies standards 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 Immigrants Early Retirees Properties that Hold Their Attractive Properties That Welcome Value Hold Their Value 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 Volunteer Opportunities Good Education Opportunities 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 • 1 st 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 Strategies Millennials 1. Authentic Online Content Blogs Vlogs 2. Customer-Driven Work w/ Those Who Are Here Personalized Marketing 3. How To… Videos 4. Educational Content w/ Videos Their Interests (not $) in Mind 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 Criteria Area of Concern • Is it in our jurisdiction? • Crime • Is it in our mandate? • Health • Do we have the resources for it? • Safety • How big a concern is it to residents? • Poverty • How big a factor is it in choosing PA? • Illiteracy • What provides the biggest gains? • etc. • 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 Criteria or Focus • How big a concern is it to residents? • Hospitality • How big a factor is it in choosing PA? • Livability • What provides the biggest gains? • New Events • What would draw most positive media? • etc. • Is there a champion in the community? • What would galvanize partners?