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Sayward Economic Development Strategy

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Sayward Economic Development Strategy Sayward Economic Development Strategy FINAL REPORT December 2013 Prepared by: in association with: Prepared for: Village of Sayward With funding support from: TABLE OF CONTENTS EXECUTIVE SUMMARY ................................................................................................................................. III Economic Development Vision .................................................................................................... III Context ........................................................................................................................................ III Priorities ........................................................................................................................................ V Strategic Action Plan .................................................................................................................... VI Implementation .......................................................................................................................... VII 1. INTRODUCTION ................................................................................................................................. 1 Economic Development Vision ..................................................................................................... 1 Study Process ................................................................................................................................ 2 Report Outline .............................................................................................................................. 2 2. CONTEXT FOR ECONOMIC DEVELOPMENT ....................................................................................... 4 2.1. History of Sayward......................................................................................................................... 4 2.2. Economic Analysis ......................................................................................................................... 5 Population..................................................................................................................................... 6 Selected Labour Force Indicators ................................................................................................. 8 Regional Employment Context ..................................................................................................... 9 Sources of Income ...................................................................................................................... 10 Housing ....................................................................................................................................... 11 3. CONSULTATION AND ENGAGEMENT .............................................................................................. 13 3.1. Stakeholder Interviews ................................................................................................................ 13 3.2. Community Survey ...................................................................................................................... 14 Respondent Demographics ........................................................................................................ 14 Living in Sayward ........................................................................................................................ 17 Economy ..................................................................................................................................... 18 Economic Development .............................................................................................................. 20 4. SAYWARD'S COMPETITIVE POSITION .............................................................................................. 24 4.1. Strengths...................................................................................................................................... 24 4.2. Weaknesses ................................................................................................................................. 24 4.3. Opportunities .............................................................................................................................. 25 4.4. Threats ......................................................................................................................................... 26 5. STRATEGIC PRIORITIES ..................................................................................................................... 27 I SAYWARD ECONOMIC DEVELOPMENT STRATEGY 5.1. Evaluation Framework ................................................................................................................. 27 5.2. Analysis of Employment Impact .................................................................................................. 28 5.3. Analysis of Benefits for Residents ............................................................................................... 33 5.4. Analysis of Viability ...................................................................................................................... 35 5.5. Summary ...................................................................................................................................... 43 6. STRATEGIC ACTION PLAN ................................................................................................................ 45 Goal #1: Pursue Economic Development Opportunities with Greatest Potential .................................. 46 Strategy 1. Plan and execute a significant harbour redevelopment. ...................................... 46 Strategy 2. Pursue investment in harbour support services. .................................................. 48 Strategy 3. Pursue expansion of Sayward‐based commercial forestry operations................. 50 Strategy 4. Continue work toward development of Sayward Community Forest. ................. 52 Strategy 5. Pursue re‐establishment of a retail store in Sayward. .......................................... 54 Strategy 6. Facilitate new residential development, including through retiree attraction. ... 56 Strategy 7. Engage with regional tourism initiatives. .............................................................. 58 Strategy 8. Explore public investment in tourism product development, including the campground. ............................................................................................................................... 59 Strategy 9. Promote Sayward through engagement with major project proponents in the surrounding region. .................................................................................................................... 61 Goal #2: Strengthen Infrastructure for Economic Development ............................................................ 62 Strategy 10. Improve telecommunications infrastructure. ..................................................... 62 Strategy 11. Preserve and enhance recreational facilities and other public amenities. ......... 63 Strategy 12. Improve online information resources on Sayward. ........................................... 64 Strategy 13. Establish engagement program for major economic stakeholders. ................... 65 Strategy 14. Regularly engage with other communities and organizations with an interest in economic development, including First Nations. ....................................................................... 66 Strategy 15. Encourage the re‐establishment of a Sayward business organization. .............. 67 Strategy 16. Develop resource package for small business. ................................................... 68 Strategy 17. Improve wayfinding and community appearance. ............................................. 69 Strategy 18. Village Council and staff to continue demonstrating openness to new investment...... ............................................................................................................................ 70 7. CONCLUSIONS AND IMPLEMENTATION .......................................................................................... 71 Implementation .......................................................................................................................... 71 APPENDIX A: CONSULTED INDIVIDUALS ..................................................................................................... 72 APPENDIX B: BIBLIOGRAPHY ....................................................................................................................... 73 II SAYWARD ECONOMIC DEVELOPMENT STRATEGY EXECUTIVE SUMMARY The purpose of the Sayward Economic Development Strategy is to identify concrete steps that can be taken to improve the future economic prospects of the entire Sayward area. The challenges facing the community include a declining population, the loss of nearly all commercial activity in the village, the deterioration of critical economic assets like the harbour, and eventual risk to the high quality of public services that remain, including health services, the recreation centre and a local police detachment, if these trends are not reversed. Despite the challenges, Sayward retains several strategic advantages that support future economic development opportunities and offer hope for renewed investment, increased economic activity and a revived population in the coming years. The harbour remains strategically located for multiple sectors from aquaculture to tourism, the community is
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