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Economic Development Strategic Plan November 2012

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Economic Development Strategic Plan November 2012 Wellington County Economic Development Strategic Plan November 2012 1 Millier Dickinson Blais: Wellington County Economic Development Strategic Plan Contents PART A: ECONOMIC DEVELOPMENT STRATEGY ............................................................................ 4 1 INTRODUCTION .............................................................................................................................. 5 1.1 OBJECTIVES AND OUTCOMES 5 1.2 APPROACH 5 1.3 STAKEHOLDER CONSULTATION 6 1.4 FINANCIAL AND BUDGET IMPLICATIONS 7 2 SEEING THE BIG PICTURE ............................................................................................................ 8 2.1 THE REGIONAL CONTEXT FOR GROWTH AND INVESTMENT 8 2.2 EXISTING LOCAL ECONOMIC DEVELOPMENT EFFORTS 12 3 SWOT ANALYSIS.......................................................................................................................... 14 3.1 STRENGTHS 15 3.2 WEAKNESSES 17 3.3 OPPORTUNITIES 18 3.4 THREATS 22 4 MAJOR THEMES .......................................................................................................................... 23 5 STRATEGY FRAMEWORK ........................................................................................................... 30 5.1 VISION STATEMENT 30 5.2 GOALS, STRATEGIC OBJECTIVES 31 5.3 THE PATH FORWARD 32 6 IMPLEMENTATION ....................................................................................................................... 42 PART B: BACKGROUND RESEARCH AND ANALYSIS ................................................................... 44 1 ECONOMIC BASE ANALYSIS ...................................................................................................... 45 1.1 KEY FINDINGS 46 1.2 DEMOGRAPHIC CHARACTERISTICS 48 1.2.1 POPULATION CHANGE 48 1.2.2 POPULATION BY AGE 50 1.2.3 GROWTH/CHANGE IN IMMIGRANT POPULATION 53 1.2.4 MIGRATION 54 1.2.5 ETHNIC DIVERSITY 55 1.2.6 EDUCATIONAL ATTAINMENT AND FIELD OF STUDY 58 1.2.7 HOUSEHOLD AND PERSONAL INCOME 59 1.3 LABOUR FORCE PROFILE 60 2 Millier Dickinson Blais: Wellington County Economic Development Strategic Plan 1.3.1 LABOUR FORCE CHARACTERISTICS 61 1.3.2 LABOUR FORCE BY INDUSTRY 63 1.3.3 LABOUR FORCE BY OCCUPATION 66 1.3.4 LABOUR FLOW AND COMMUTING PATTERNS 68 1.4 CREATIVE ECONOMY 72 1.4.1 DEFINING AND UNDERSTANDING THE CREATIVE ECONOMY 72 1.4.2 CREATIVE ECONOMY PROFILE 73 1.4.3 CREATIVE BUSINESSES AND ENTERPRISES 78 1.5 INDUSTRY SECTOR ANALYSIS 81 1.5.1 LOCATION QUOTIENT ANALYSIS 81 1.5.2 BUSINESS PATTERNS ASSESSMENT 84 2 INFRASTRUCTURE ASSESSMENT ............................................................................................. 88 2.1 BROADBAND TELECOMMUNICATIONS SERVICES 88 2.2 TRANSPORTATION LINKAGES 90 2.3 COUNTY-WIDE EMPLOYMENT LANDS 93 APPENDIX I: PUBLIC CONSULTATIONS .......................................................................................... 97 APPENDIX II: SUMMARY OF INTERVIEWS WITH MAYORS AND CAOS ...................................... 114 APPENDIX III: LIST OF STAKEHOLDERS INTERVIEWED ............................................................. 120 3 Millier Dickinson Blais: Wellington County Economic Development Strategic Plan Part A: Economic Development Strategy 4 Millier Dickinson Blais: Wellington County Economic Development Strategic Plan 1 Introduction 1.1 Objectives and Outcomes Wellington County has embarked on its first ever Economic Development Strategic Plan to foster and support a more coordinated approach to regional economic development. The preparation of the Plan has been highly collaborative and is premised on having the municipalities, local partners, and organizations that have economic development as part of their mandate working together to achieve a strong and united approach to economic development. More strategically however, the Plan is intended to inform residents, businesses and elected officials on the challenges and opportunities that will confront the County in the years to come and identify the actions required to ensure sustainable economic growth and strengthen the County’s competitive position. The plan also serves as a guide for the strategic investment of both public and private sector resources in ways that fully exploit the region’s assets. Overall guidance and direction for the creation of the Wellington County Economic Development Strategic Plan was provided by the Wellington County Municipal Economic Development Group (WCMEDG), composed of local municipalities, service agencies and economic development partners, as well as members of the County’s extended leadership team. In preparing the Plan consideration has also been given to a number of other initiatives determined to have a direct impact on the overall direction for the regional economic development strategic plan. This includes the Province’s Place to Grow Act, municipal strategic plans, as well as the economic development efforts of the local municipalities and the County’s Economic Development Committee. The recently created Wellington County Economic Development Office has been instrumental in ensuring a high level of public and stakeholder engagement throughout this process and is tasked with developing partnerships with local stakeholders and area municipalities, as well as other senior levels of government to advance a common economic development agenda. In doing so, the County will ensure the effective implementation of the Plan and a continuing focus on a strong and united approach to economic development. 1.2 Approach The primary objective for any economic development strategic plan is to improve the livability and quality of life of a community or region through sustained economic growth. This in turn fosters the creation of high quality jobs attracts investment and increases wealth and opportunity for area residents. To do this, consideration must be given to the underlying condition of a local economy and its climate for investment, both in terms of public and private sector investment. This is achieved through a solid understanding of a region’s performance against a 5 Millier Dickinson Blais: Wellington County Economic Development Strategic Plan range of economic indicators combined with an analysis of current and emerging business and industrial investment trends and input from the community at large. This document is comprised of two major components. Part A provides a high level understanding of the County’s recent economic performance and the opportunities and challenges that are influencing both growth and investment in the region. It also sets out the framework for achieving sustainable economic growth in the form of long term goals, together with shorter term strategic objectives and actions to guide economic development activity in Wellington County. Part B of the report provides the results of a more detailed economic base analysis of the region as well as summaries of the project’s extensive consultation efforts. The approach employed in the completion of this work has involved the following steps: . An Economic Base Analysis including socio-economic data for Wellington County providing demographics, household data, education, labour force, employment resources and the business climate. An identification of key sectors and economic opportunities within Wellington County. A review of existing economic development studies and initiatives underway at the County and the local municipalities. An assessment of the local strengths, weaknesses, opportunities and threats to prove insight to the County’s locational advantages and disadvantages in attracting and retaining business investment. Input from key stakeholders and members of the public in the form of one-on-one interviews, focus groups, and an online survey on the project’s website. The result of this process is a forward thinking, locally based action plan that is reflective of the vision, values and aspirations of the broader community. 1.3 Stakeholder Consultation Given the importance of developing consensus around the overall direction for the County’s Economic Development Plan, a strong communication and consultation effort was essential. One-on-one interviews were conducted between May and September 2012 that included business leaders, community and provincial stakeholders, economic development partners, and elected officials and senior management from Wellington County. These discussions provided insight into trends related to the region’s current economic development activity, current land use and policy issues that impact economic growth, the challenges being faced by the business community and the capacity of the local municipalities to participate in the economic development initiatives and programming. 6 Millier Dickinson Blais: Wellington County Economic Development Strategic Plan The findings from these interviews together with the results of the economic analysis were used to inform a strategic visioning session with the members of the WCMEDG, the County’s economic development partners, and municipal staff. This assisted in developing consensus for the direction of the economic development strategic plan and a vision for economic growth. Five focus group discussions were hosted in July 2012 in various locations across the County to gain further community input on the appeal of the County as a place to live and do business and the challenges with respect to future economic growth and opportunities for economic development. Given the importance of providing a sustainable workforce to economic growth, a Workforce Development
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