Slide1 : Best Practices for Building Sustainable
Regional Economies Vancouver Island Economic Summit
November 1-2, 2004
Nanaimo, British Columbia Achieving Prosperity Frank Knott, President
ViTAL Economy, Inc.
fknottmd@earthlink.net
410-321-1484
Connecting Summit Knowledge Sharing to Best Practice Recommendations : Connecting Summit Knowledge Sharing to Best Practice Recommendations
Collaborate, Connect, Change Spending,
Build on What Makes Us Unique,
Benchmark & Measure to Achieve Success Secrets of Successful Businesses
Tourism Today and Tomorrow
Capitalizing on Good Ideas
The Island Brand
The Changing Face of Vancouver Island
Growing Local Business, Building on Strengths
Race to Success - Challenge & Opportunity
The Future of Forestry
2010 Community & Business Opportunity
RAMP UP! The Road Ahead Summit Sessions
Slide3 : Summit Session Highlights
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary Minister Graham Bruce
The importance of doing what is right versus what is politically favorable
Growth in consumer confidence
The value and strength of a unified caucus focused regional value, not just turf value
Negotiating from positions of mutual respect to achieve greater goals
We have it all, but we need to create a positive climate where quality of life is matched by quality of economic opportunity for all
Example of integrated planning and shared resources - Marine Waterfront
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary Premier Campbell
Vancouver Island needs to tell us its vision for the future
The Province has created a foundation of opportunity
The value in unity & collaboration is exhibited by the Island Caucus
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary Secrets of Successful Island Businesses (Rod Visser (MLA, North Island), Wayne Coulson (Coulson Forest Products), Karen Addison (Island Internet), Brian Hughes (Kildara Farm), Edgar Smith (Beaver Meadow Farms)
Wayne Coulson - The importance of going direct to our end customers
Dan Rodgers - The value of the Island as an attraction asset for workers desiring a more balanced life style
Brian Hughes and Edgar Smith – The need to focus on building their businesses off of what makes the Island unique (its climate, soil, etc.)
All panelists - Focused on customers’ desire to buy local goods and services
Wayne Coulson and Edgar Smith - The importance of finding customers, markets and skills on a global basis to provide world class solutions
Several panelists - The importance of a Vancouver Island region-wide brand, and the growth opportunities for local communities and businesses through a unified strategy and marketplace ( 90% of Island Organics are supplied off island)
Several panelists - The need for regulatory consistency across multiple levels of government -- not just provincial -- to enable a more competitive time to market environment
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary
Tourism Today & Tomorrow (Rod Harris (Tourism BC), David Petryk (Tourism Association of Vancouver Island)
BC Government is funding tourism growth as it supports Tourism BC and community-driven action planning
Tourism BC Marketing Plan covers 50 niche tourism sectors and is designed to grow tourism up to and beyond 2010
Tourism growth depends on ongoing collaborative marketing among operators, suppliers, BC Government, Tourism BC, 6 regional associations, community tourism associations, VANOC, 2010 sponsors
Vancouver Island is realizing the TAVI vision to be the “premier island destination” (Conde Nast Award)
Tourism is growing and diversifying
First Nations tourism experiences presents a significant tourism opportunity
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary Educating & Training The Island Workforce (John Winter (BC Chamber of Commerce), David Turpin (University of Victoria), Richard Johnston (Malaspina University College), Lois McNestry (Discovery College)
“fund us”, but “free us” from mountains of paper
Increase funding to ITA, as well as to private providers of training
Need for tax credits for apprenticeships (Ontario model)
Expand career technical centers at high schools, and include student credits
Economic development is about great people and great ideas
We have the most integrated post secondary system in the nation
Challenge is capacity, which the province has now addressed with a bold strategy
Focus on how we grow & retain our own, as well as attract world class skills
Have we overshot with academics for below A level students (78% of students)?
Training requires current technology ($), which requires partnering with industry
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary Capitalizing on Good Ideas: Attracting Investment in Technology through Economic Clusters (Bill Cooke (Vancouver Island Advanced Technology Centre), Mark Nydam (Signal Hill Advisors), Frank Knott (ViTAL Economy)
It’s not just about capital, its about a climate of risk taking & innovation
Need to develop regional capital base to take investment lead to attract capital
Tech clusters can help expand critical mass to attract interest
“All I want government to do is buy something, not give me a grant”
Clusters help develop skill and investment attractiveness of entrepreneurs
Clusters alone do not attract capital
BC Government should adopt the DARPA model to accelerate growth
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary The Island Brand: Making Our Mark (Joe LePla (Parker LePla), Janet (Vancouver Island Vintners Association)
The Island’s existing brand is already in peoples heads
An umbrella brand can set a region apart (e.g. Clean, green, friendly)
A distinctively defined strategic role, along with key associations, becomes memorable and valued
The road to a distinctive brand includes research, brand tools, living the brand, and communicating the brand
An integrated brand is ‘The promise you always keep’ as a region and as organizations
Brand includes all attractions, communications (such as maps and travel guides), and is reflected in all decisions
When advertising, don’t lose your audience in the details, ‘Less is more’
Don’t confuse the region’s many activities with its brand focus
Brand should reflect what you do well, what is ownable, and what your target audience values
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary
Island Demographics: The Changing Face of Vancouver Island (David Baxter (Urban Futures Institute, Ken Stratford (Vancouver Island Economic Development Association), Bernie Welsh (Parksville Beach Resort Inc)
Entering the Silver Century with growing number of seniors and senior couples
The Islands in-migration will be older, and the out-migration will continue to be younger
Four out of five seniors on the Island will have lived on the Island, only one of five will have migrated to the Island to retire
Victoria’s unemployment rate is currently at a historic low of 4.6%.
Birth rate is below the replacement rate, foreshadowing growing job vacancies
Must continue to engage the Island’s First Nations’ communities in the Island economy
Continuing increases in life expectancy and healthier longevity, resulting in a larger, more active, seniors’ population that will impact the delivery of social services
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary
Keys to Success: Growing Local Business and Building on Your Strengths (Tanja McQueen (VIEDA), Marilyn Hutchinson (Mid-Island Science and Technology and Innovation Council), Tony Menard (VMAC Manufacturing))
80% of new jobs come from existing business base, so we need to focus on business retention and expansion
The Island implemented the first “Business Care” (retention) program in BC, and has actively supporting Economic Development Officers and MISTIC)
Nanaimo’s retention priorities: export companies (economic drivers)
Vancouver Island attracts “lifestyle entrepreneurs” (here for lifestyle, family, roots)
Challenges for Island Businesses: access, transportation/shipping costs;lack of people with appropriate skills; lack of experienced mentors in the same business as new entrepreneurs; local government tax rates; lack of light industrial space
Opportunities for Island Businesses: better airport in Nanaimo; VI Training Centre for skills required by Island Businesses; and Island Brand; “Buy Local” collaborate; celebrate successes (e.g.local businesses, Provincial support of business); Island transportation & logistics coordinator (to share containers, optimize trucks; removal of BC Ferries surcharge on Friday shipments, business friendly local governments
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary
The Race To Success: Challenges & Opportunities for Growing Island’s Economy
Need a call to action for regional economic development & frameworks
Campbell River model for removing barriers to business needed beyond local level
Island infrastructure is a great asset for the resource industry
Land access issues need to be addressed with collaborative partnership strategies
The Vancouver Experience is a major attraction asset for bringing skilled workers in
Rationalization of overlapping regulations and agencies is critical on the global stage
The challenge of the NIMBY culture
1st Nations ED strategy focused on nation building not just jobs and income
We need to communicate, share and celebrate our successes, build momentum
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary
The Future of Forestry on Vancouver Island (Duncan Davies (Interfor), Paul McElligott (Timberwest), ??? (Weyerhaeuser)
In the face of significant cost structure issues, there has been great industry collaboration happening in the province
Central Coast Agreement - collaboration between industry, small business, environmentalists, and First Nations to maintain timber supply
Significant structural changes taking place to to revitalize the coastal industry through engagement of multiple stakeholders
“New Vision” is an excellent example of collaborative action taken to face the challenges of the global market realities and improve British Columbia’s competitiveness
Oona to provide name of designate speaker for Weyerhaeuser
RAMP UP! The Road Ahead- Summit Summary : RAMP UP! The Road Ahead- Summit Summary Going for Gold: 2010 Opportunities (Gordon Goodman (2010 LegaciesNow), Lane Beattie (Salt Lake Chamber of Commerce), Don Sharpe (Mt. Washington), Dave Woodman (Supergraphics)
Six year lead-up time to 2010 will go VERY quickly – get going, keep moving
Partnership is critical to surviving successful involvement in 2010 programs
Strong case for Mt. Washington as a training site for international teams
Regions outside of Vancouver – Whistler can take advantage of the 2010 Games
Desire to understand the long-term economic development impact of 2010
BC is encouraged to exceed Salt Lake City’s successes
Slide16 : Best Practices for Regional Economic Development Success
What has Proved to Be Key To The Economic Success of Cluster Based Regional Initiatives : What has Proved to Be Key To The Economic Success of Cluster Based Regional Initiatives Private sector leaders partner with collaborative governments in dollars/resources
Establish a clear economic sense of urgency
Recognize you are in the “sweet spot” of the 21st century global economy
Build collaborative regional versus silo community strategies that align resources
Adopt a triple bottom line focus on economic, social and environmental prosperity
Create measurable and actionable goals linked to the strategy
Economic development becomes every citizens job not just professionals
Investment in global best practice research on market competitiveness
Commit to building collaborative leadership capacity that understands clustering as a process…a way of life…not a goal
Establish collaborative frameworks to manage a regional economy