Hardwired for Business Economic Action Plan · Economic Action Plan 2017-2019Delivering Outstanding...

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Hardwired for BusinessEconomic Action Plan

2017-2019

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Table of Contents

Message from the Mayor 6 Executive summary 5

District mandate and role 7

Operating environment 8

Global operating environment 10

Local operating environment 11

Strategic plan 2017-2019 12

Approach 13

Alignment 14

Outcomes, actions and activities 15

Core activities 16

Priority activities 2017-2019 18

Link to local government priorities: 19

Risk assessment 20

Measuring performance 22

District economic development scorecard 23

Appendix A: Timeline 24

Appendix B: Potential community economic health indicators 25

Appendix C: Priority sector review 26

Appendix D: Bibliography 27

3Delivering Outstanding ServiceEconomic Action Plan 2017-2019 333

More people are trained and locally employed.

There is sustainable and diverse business growth.

Infrastructure meets the needs of employees and

employers.

Our Goals

PEOPLE PLACE

BUSINESS

Our Common Future, United Nations World Commission on Environment and Development

Sustainable development is development that meets the needs

of the present without compromising the ability of future

generations to meet their own needs.

444444

Message from Mayor

It is my pleasure to share the District of Squamish’s Strategic Economic Development Action Plan. This action plan builds off the hard work of our community businesses and supporting organizations, and all those who have contributed to make Squamish the growing and opportunity-rich town it is today. Squamish is facing considerable growth opportunities. Global and local forces are contributing to this opportunity, while also presenting challenges to be addressed going forward. From the increasing pace of technological advancements, to environmental and demographic shifts, to market forces affecting the price of real estate, this plan works to unlock potential for long-term benefit, while mitigating negative market pressures.

Premised on one over-arching outcome for our community; that of increased sustainable economic development that raises the standard of living for all, the plan uses a fundamental approach towards economic development by considering three vital pillars of success; People, Business and Place. Through these three pillars, the plan works to ensure our community has increased access to local employment and has adequate skills and training to meet this demand. It works to ensure that the business community has access to tools and intelligence to expedite growth and is supported with the right conditions to realize this growth, whether that translates to increased access to employment lands or a broader connection to global markets. The combination of Squamish’s ideal location, its natural setting and entrepreneurial spirit have been strong precursors of its success. Coupled with the right growth plan, Squamish has the potential to benefit for years to come.

Patricia HeintzmanMayor

5Delivering Outstanding ServiceHardwired for Business 555

Executive Summary

British Columbia is leading the way in economic and job growth for Canada. It also boasts the lowest provincial unemployment rate in the country. Our robust and diversified export markets continue to drive connectivity and productivity for B.C. business, while also increasing its stability.

The District of Squamish, ideally positioned to share in this growth, is at the forefront of considerable change. The global and local operating environment has provided ideal conditions, including connectivity and technology, to support the expansion of the local economy. While there are significant opportunities for local businesses, the operating environment also comes with its share of challenges — notably affordability, labour and infrastructure pressures.

The District recognizes the importance of a collaborative approach in fostering the sustainable growth (social, environmental and economic) of our local economy. Through our work with other levels of government, partners and the local business community, we will attempt to address both the challenges and opportunities facing Squamish in the coming years.

Taking an outcome-driven and evidence-based approach, the District will focus on our three areas of priority — People, Business and Place — with the objective of encouraging conditions for a healthy and sustainable local economy.

High-level outcomes as part of this three-year plan will include:

1. People: More people are trained and locally employed2. Business: There is sustainable and diverse business growth3. Place: Infrastructure meets the needs of employees and employers

Through this strategy, the District will prioritize work plans and serve the existing business community by advocating for effective policy, programs and initiatives, while also working to share business intelligence and support programs to expedite growth.

Squamish is a world-class destination to live, work and play. Being “hardwired for business” is a precursor to ensuring that our reputation continues to support our unique and vibrant community.


District Mandate & Role

The general purpose of local government is to provide a wide range of services and regulate a variety of activities within its geographic boundary. While its mandated functions range from constructing and maintaining local roads to emergency planning, local government has a number of voluntary functions in support of enhancing the quality of life of its residents.

The District of Squamish recognizes the important role economic development plays as part of this effort to improve quality of life.

Economic Development Department Mandate

The economic development department’s mandate is to work with the local community, our partners and other levels of government to support the sustainable growth of the local economy.

Specifically, our mandate is to:

• Supportavibrantandprofitablelocaleconomy

• PromoteSquamishasplaceofbusiness

• Supportacollaborativerelationshipbetweenprivateandpublicsectors

• Provideinformationinsupportofahealthylocaleconomy

Role of the Economic Development Department

The District of Squamish, through our economic development services, supports the vibrancy of the existing business community while strategically positioning the community for future economic growth. We work with the business community to ease business constraints, provide expertise and tools to local business, and liaise with the business community and government to support policy development and programs that lead to growth opportunities for the community.

8888

Operating EnvironmentEconomic development depends on a number of controllable and uncontrollable factors. Major weather events, government policy changes, demographics and technology all matter for effective planning. To anticipate potential risks and opportunities, we reviewed the global and local operating environments, with consideration of potential implications to the local economy.

Economic

Legal/Regulatory

Technological

Social

Environmental

Political/Policy

EnvironmentalScan

1010101010

Global Operating Environment

Shifting Demographics

Working-age populations are growing in emerging markets like Africa and India while mature markets like Canada are experiencing aging workforces.

Challenge: Potential labour shortage and lack of competitiveness

Continued and escalating tensions due to greater connectivity, resource constraints and growing concerns around security are at the forefront of instability.

Challenge: Ability to access markets for trade and investment

Political Instability and Conflict

Global connectivity continues to drive advancements in technology and trade, leading to automation, and new, value-added global chains.

Global Connectivity and Technology

Challenge: Ramping up productivity and innovation in order to compete

Demographic shifts and weaker productivity gains, coupled with past economic crises, means major economies will face growth constraints.

Challenge: Diversifying the local economy to ensure growth is not stifled

Slower Growth

Extreme-weather events and longer-term threats will drive collective action but also increased tensions. Increased mobility and poor health infrastructure pose considerations for infectious disease management.

Environmental Health Concerns

Challenge: Effective contingency planning and risk analysis


Local Operating Environment

While British Columbia currently holds the top provincial spot for economic growth, the 2017 provincial election results will confirm if this is enough for another term.

Challenge: Potential impact on policy programs and funding

Political Uncertainty

Mounting housing costs and the attractiveness of Squamish are drawing more people to the area, affecting both residential and commercial property supply.

Challenge: Addressing growth limits and productivity of local businesses

Demand and Supply Issues

The weakening of home resale activity may push B.C. out of top economic spot in 2017. Despite this cool down, other market indicators remain favourable.

Challenge: Addressing affordability and labour demand despite slower growth

Slower Growth

Affordability Concerns

As the Lower Mainland continues to be one of the most expensive real estate metros in the world, the high cost is driving up prices in nearby communities, including Squamish.

Challenge: Addressing affordability, higher-wage demand and inflation management

Small- and medium-sized enterprises (SME) make up one-third of GDP in B.C. Maximizing productivity, commercializing innovation and supporting market entry is key to their success.

Small and Medium-Sized Enterprise Growth

Challenge: Addressing growth inhibitors for SMEs are crucial to a healthy local economy

1212121212

ECONOMIC ACTION PLAN 2017-2019


Approach

The District of Squamish’s Economic Action Plan 2017-2019 sets out the strategic direction for the District’s economic development efforts. It begins with listing desired outcomes and then narrows its focus to describe the activities and initiatives required to attain these outcomes. The plan, premised on the community’s vision, articulated through the Official Community Plan, as well as supporting District and council strategies, considers outside factors with the potential to significantly impact desired outcomes.

Desired Outcomes

Strategic Direction

Activities and Initiatives

CON

SID

ERAT

ION

S

Plan Review

•Official Community Plan

•Council Strategic Plan

•DistrictStrategic and Action Plans

Best Practices Scan

Review of Existing Plans

Consultation

Environmental

Scan

Development Approach

Alignment of existing activities/

initiatives

Development of activities/initiatives

to support outcomes

1414141414

Visionary Leadership

• Be Outcome Driven

• Innovate every day through team -based approach

Strong Community Partnerships

• Support alignment of roles and vision of community’s economic development efforts

Customer-focused Service• Be efficient and effective, always solution-oriented

Excellence in Governance

• Be evidence-based in planning, implementation and reporting

• Be nimble and proactive in planning and execution

• Be transparent by providing meaningful reporting at regular intervals

Sound Financial Management

• Be efficient in planning and execution

• Be opportunistic by seizing funding, external support and work already done

Mission Guiding Principles Economic Development Efforts Alignment

AlignmentThe District’s mission, as stated in the Official Community Plan, is to protect and enhance the liveability and sustainability of the community, and to embrace and benefit from the opportunities before it.

To achieve this mission, the District is steered by the five guiding principles below. Our economic development efforts will use the same guiding principles to ensure alignment to the District’s mission statement.


Outcomes, Actions and Activities

The District’s economic development efforts will focus on sustainable economic growth to improve the quality of life for all community members.

This growth plan will account for existing and potential gaps in infrastructure, labour and business while also working to seize opportunities and mitigate potential risks associated with economic development. Ongoing measurement will work to evaluate the District’s work in achieving these outcomes, as further detailed on page 23.

Outcomes are broken into three categories: immediate outcomes support the three-year plan; intermediate and ultimate outcomes help guide the strategy beyond three years into the future.

Three strategic pillars, People, Business and Place, form the strategic direction for work undertaken by the District in support of economic development outcomes. An inclusive and sustainable growth plan considers not only growth itself, but the precursors of a healthy economy, which is a healthy community.

The economic development department will use priority actions to approach and inform work. Core activities are ongoing and steer priority activities delivered over the life of the three-year plan. Government priorities compare the alignment of pillars and supporting activities to council’s strategic priorities. The following model provides a visual depiction of the District’s main economic development strategic outcomes and activities over the short-, medium- and long-term. A delivery timeline is also included as Appendix A of this plan.

1616161616

Ha

rdwi

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or B

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11

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20

17-

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9

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Ha

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12

Co

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Activ

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In

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outh

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usine

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riorit

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itize

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and m

onito

r opp

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nities

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ats t

o su

ppor

t sus

taina

ble gr

owth

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e dat

a and

inte

lligen

ce to

info

rm se

ctor

focu

s, ide

ntify

grow

th op

portu

nities

, unc

over

busin

ess

cons

traint

s, an

d add

tran

spar

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to pr

oces

s and

repo

rting

.

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mun

icate

an

d Adv

ocat

e Sh

are b

usine

ss in

tellig

ence

and b

est p

racti

ces t

hat

prom

ote g

rowt

h

Shar

e dat

a and

inte

lligen

ce w

ith th

e bus

iness

com

mun

ity to

rem

ove b

arrie

rs an

d exp

edite

healt

hy

grow

th w

hile a

dvoc

ating

to ea

se co

nstra

ints.

This

includ

es se

ctor

profi

les, b

usine

ss da

ta, a

nd

econ

omic

and p

erfo

rman

ce in

dicat

ors.

Facili

tate

Enco

urag

e, pa

rticip

ate a

nd im

plem

ent p

rogr

ams

that

facil

itate

grow

th

Wor

k to a

ddre

ss po

ints o

f fric

tion b

y elim

inatin

g red

tape

and

strea

mlin

ing pr

oces

ses,

while

en

cour

aging

busin

ess g

rowt

h thr

ough

the d

elive

ry of

prog

ram

s and

initi

ative

s.

Place

Partn

er

Conn

ect t

he lo

cal e

cono

my t

o reg

ional,

natio

nal

and g

lobal

netw

orks

Take

an ac

tive r

ole in

deve

loping

purp

osef

ul re

lation

ships

to su

ppor

t tra

de, in

nova

tion,

pr

oduc

tivity

and g

ener

al co

nnec

tivity

at re

giona

l, nati

onal

and

globa

l leve

ls.

Prior

itize

As

sess

and p

rioriti

ze th

e inf

rastr

uctu

re th

at be

st su

ppor

ts em

ploye

es an

d em

ploye

rs

Wor

k to p

rioriti

ze pl

annin

g/ bu

sines

s inf

rastr

uctu

re re

com

men

datio

ns an

d to

mee

t eco

nom

ic de

velop

men

t ou

tcom

es (i.

e. av

ailab

le em

ploym

ent l

and b

uilt i

nven

tory

, digi

tal c

onne

ctivit

y, tra

nsit)

whil

e tak

ing

into a

ccou

nt ot

her d

ecisi

on dr

ivers

impo

rtant

to th

e hea

lth of

the c

omm

unity

.

Com

mun

icate

an

d Adv

ocat

e Su

ppor

t poli

cy, p

rogr

ams a

nd fu

nding

that

lead

to

grea

ter w

orka

bility

Supp

ort p

olicy

, pro

gram

s and

fund

ing in

itiati

ves t

hat l

ead g

reat

er w

orkfo

rce i

nclus

ion, a

fford

abilit

y an

d ser

vices

to be

tter c

onne

ct an

d sup

port

work

ers a

nd em

ploye

rs.

Facil

itate

En

cour

age,

parti

cipat

e and

imple

men

t pro

gram

s an

d initi

ative

s to i

mpr

ove p

lace

Supp

ort i

mpr

oved

busin

ess i

nfra

struc

ture

prio

ritize

d to m

eet t

he ne

eds o

f em

ploye

es an

d em

ploye

rs.

18181818

ssenisuB rof deriwdraH

13

Prior

ity A

ctiviti

es 20

17-2

019

Pilla

r Ac

tiviti

es

Initi

ative

s De

scrip

tion

People, Business,

Place

Partn

er

Esta

blish

the

Squa

mish

Eco

nom

ic De

velo

pmen

t Ste

erin

g Gro

up

This

stee

ring g

roup

will

supp

ort o

utco

mes

with

a fo

cus o

n th

e th

ree

pilla

rs: P

eopl

e, B

usin

ess a

nd P

lace.

Su

ppor

ting s

ub-c

omm

ittee

s will

each

focu

s on

one

pilla

r, re

pres

ente

d by

skills

-bas

ed D

istric

t par

tner

s.

Partn

er

Colla

bora

te to

dev

elop

a Co

mm

unity

Ec

onom

ic De

velo

pmen

t Plan

and

Econ

omic

Healt

h Da

shbo

ard

Serv

ing a

s a st

rate

gic to

ol to

prio

ritize

and

dire

ct w

ork p

lans f

or e

cono

mic

deve

lopm

ent,

the

com

mun

ity p

lan an

d su

ppor

ting d

ashb

oard

will

aim to

defi

ne an

d ali

gn su

ppor

ting o

rgan

izatio

ns’ r

oles

to

a co

mm

on fr

amew

ork a

nd d

rive

owne

rshi

p at

all le

vels.

People

Prio

ritize

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plem

ent a

Skills

Inve

ntor

y Ana

lysis

Proj

ect

Man

aged

by t

he P

eopl

e su

b-co

mm

ittee

of th

e st

eerin

g gro

up,t

his p

roje

ctwi

ll gui

de fu

ture

stra

tegy

an

d wo

rk p

lans,

and

inclu

de a

revie

w of

pre

sent

and

antic

ipat

ed la

bour

skills

dem

and

again

st th

e cu

rrent

and

antic

ipat

ed sk

ills in

vent

ory o

f the

com

mun

ity.

Com

mun

icate

an

d Ad

voca

te

Com

mun

icate

find

ings

and

labou

r/sk

ills

reco

mm

enda

tions

to go

vern

men

t and

st

akeh

olde

rs

Usin

g the

resu

lts o

f the

Skills

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ntor

y Ana

lysis

Proj

ect,

the

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ricta

ndpa

rtner

s will

com

mun

icate

re

sults

to e

ncou

rage

pol

icy, p

rogr

ams a

nd in

itiati

ves s

uppo

rting

a he

althy

labo

ur m

arke

t.

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itate

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velo

p a f

ram

ewor

k for

the

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Con

nect

Sq

uam

ish P

lan

The

Peop

le su

b-co

mm

ittee

of t

he st

eerin

ggro

up w

ill wo

rk to

dev

elop

a fra

mew

ork t

o clo

se th

e lab

our

gap.

This

fram

ewor

k will

cons

ider

exis

ting a

nd n

ew re

sour

ces a

nd p

rogr

am n

eeds

, as w

ell a

s co

mm

unica

tion,

pol

icy an

d ov

ersig

ht.

Business

Prio

ritize

De

velo

p a K

ey A

ccou

nt St

rate

gy an

d da

shbo

ard

for e

cono

mic

deve

lopm

ent

The

Key A

ccou

nt St

rate

gy w

ill ap

ply a

cons

isten

t and

evid

ence

-bas

edap

proa

ch to

prio

ritize

wor

k plan

s fo

r the

Dist

rict.

An e

valu

ation

das

hboa

rd w

ill sh

ow th

e pr

ogre

ss an

d de

mon

stra

te th

e va

lue

of th

e Di

stric

t’s e

cono

mic

deve

lopm

ent a

ctiviti

es in

achi

evin

g out

com

es to

supp

ort f

utur

e st

rate

gic d

ecisi

ons.

Facil

itate

De

velo

p a f

ram

ewor

k for

the

Squa

mish

Bu

sines

s Acc

eler

ator

Pro

gram

This

fram

ewor

k, de

velo

ped

in co

llabo

ratio

n wi

th th

e st

eerin

g gro

up, w

ill su

ppor

tthe

expa

nsio

n of

ex

isting

bus

ines

ses/

sect

ors.

The

fram

ewor

k will

cons

ider

the

Key A

ccou

nt St

rate

gy, b

usin

ess

inte

lligen

ce, in

tern

al an

d ex

tern

al re

sour

ces,

as w

ell a

s pro

gram

s and

initi

ative

s.

Com

mun

icate

an

d Ad

voca

te

Revie

w ec

onom

ic de

velo

pmen

t co

mm

unica

tions

and

tool

s

A ne

eds a

sses

smen

t aga

inst

exis

ting c

omm

unica

tion

chan

nels

and

inte

rnal/

exte

rnal

busin

ess t

ools

will

form

the

basis

of a

com

mun

icatio

ns p

lan fo

r the

dep

artm

ent.

This

will i

nclu

de a

revie

w of

the

econ

omic

deve

lopm

ent w

eb in

terfa

ce, t

ools

for b

usin

esse

s, re

sear

ch an

d in

tellig

ence

com

mun

icatio

ns

prod

ucts

, as w

ell a

s con

sider

ation

for r

oles

and

resp

onsib

ilities

of t

he D

istric

t and

par

tner

s.

Place

Prio

ritize

Map

the

prio

rities

of t

he Officia

l Com

mun

ity

Plan

, plu

s digi

tal a

nd e

mpl

oym

ent l

and

stra

tegie

s to

the

econ

omic

deve

lopm

ent

work

plan

In co

llabo

ratio

n wi

th th

e st

eerin

g gro

up, a

s par

t of a

n on

goin

g effo

rt to

prio

ritize

reco

mm

enda

tions

an

d th

e ec

onom

ic de

velo

pmen

t wor

k plan

, the

Dist

rict w

ill wo

rk w

ith p

artn

ers t

o pr

ioriti

ze P

lace-

relat

ed co

nsid

erati

ons,

activ

ities

and

initi

ative

s aga

inst

antic

ipat

ed im

pact

s in

mee

ting e

cono

mic

deve

lopm

ent o

utco

mes

.

Com

mun

icate

an

d Ad

voca

te

In co

nsul

tatio

n wi

th D

istric

t plan

ning

advo

cate

for i

nfra

stru

ctur

e im

prov

emen

ts

that

supp

ort c

ondi

tions

for e

cono

mic

deve

lopm

ent

As an

outc

ome

of it

s prio

ritiza

tion

exer

cise,

the

Dist

rict,

thro

ugh

the

Squa

mish

Eco

nom

ic De

velo

pmen

t Ste

erin

g Gro

up, w

ill ad

voca

te an

d ad

vise

on p

olicy

, prio

rities

and

prog

ram

s in

supp

ort o

f lo

cal e

cono

mic

deve

lopm

ent.

Facil

itate

De

velo

p a C

onne

ct P

lace

Plan

supp

ortin

g ne

twor

ks, in

frast

ruct

ure

and

serv

ices

The

econ

omic

deve

lopm

ent d

epar

tmen

t, wi

th th

e st

eerin

g gro

upan

d in

cons

ider

ation

of o

ther

Dist

rict

prio

rities

, will

deve

lop

a Con

nect

Plac

e Pl

an to

supp

ort t

he d

elive

ry o

f bus

ines

s inf

rast

ruct

ure

and

serv

ices t

o ac

hiev

e de

sired

eco

nom

ic de

velo

pmen

t out

com

es. T

he p

lan w

illpr

ioriti

ze an

d m

ake

reco

mm

enda

tions

on w

ork p

lans a

nd re

sour

cing t

o su

ppor

t im

plem

enta

tion.


Link to Local Government Priorities

Economy: Supports the goal of “Increase Median Income.”

Healthy Community: Supports the goal of “Squamish is an adaptable and resilient community considering food, agriculture, water, built environment, employment and energy.”

Open and Enterprising Government: Supports the goals of “foster strategic and financial partnerships,” “customer service is solution/outcome driven,” “technology is deployed to enhance service” and “monitor, report and respond to introspective benchmarking and evaluation – continuous improvement.”


Economy: Supports the goals of “diversified tax base,” “increase number and spectrum of jobs” and “create an investment friendly environment that is competitive and future focused.”

Open and Enterprising Government: Supports the goals of “foster strategic and financial partnerships” and “technology is deployed to enhance service.”


Economy: Supports the goals of “diversified tax base,” “increase number and spectrum of jobs” and “create an investment friendly environment that is competitive and future focused.”

Environment: Supports the goals of “increase transportation choices and minimize our impact on the environment.”

PEOPLE

BUSINESS

PLACE

20202020

Risk AssessmentRisk assessment analyzes potential risks and their impact on achieving economic development outcomes while working to mitigate impacts before they occur. The following information summarizes potential risks that directly affect the progress and outcome of strategy.

Risk

Risk Level

Implication

Pillar

Overburden on tax base

Limits on service delivery and infrastructure impedes on the business climate stifling growth.

Diversify and increase the non-resident tax base while securing new funding

Continued Rise in Cost of Living

The cost of doing business results in an inability to be competitive, stagnating or impeding on growth.

Encourage productivity of firms & policy, programs that sustain/lower cost of living.

Continued labour shortage

Given the high cost of living, workers are moving away from or not locating to Squamish, limiting the ability of businesses to sustain themselves or grow.

Analyze demand & support policy and programs addressing labour/skills

Inability to Meet Infrastructure Needs

Existing businesses cannot expand or relocate to expand. New businesses cannot open or relocate to Squamish due to lack of available space and supporting infrastructure.

Prioritize based on needs analysis through Place pillar activities


More restrictive US trade environment

Lack of competitiveness and productivity for local firms has a bottom-line impact.

Encourage export market diversification

Rise in Canadian dollar

While the buying power of local firms and general residents increases, heavily reliant export sectors face a downturn.

Support a diversified sector and export market growth strategy.

Increase in prime lending rate

Decreased real estate demand leads to market stagnation and affects services and infrastructure delivery

Encourage managed approach to growth and diversify District revenues.

Lack of consensus

Limited prioritization and unmanaged growth leads to an imbalance.

Develop, in partnership, a measurable community economic development plan.

22222222

Measuring Performance

The District’s economic development department has an obligation to create transparent performance measurement indicators to provide assurance of the effectiveness of our work while informing future strategy direction.

Further to the need for District evaluation, a broader set of indicators to monitor the economic well-being of the community supports a common approach and understanding amongst stakeholders. To support the development of these indicators, Appendix B provides potential indicators for consideration during the development of the broader Community Economic Development Plan.

The following District Economic Development Scorecard provides the measurement framework and targets aligned to outcomes established through the District Economic Action Plan 2017-2019.


ssenisuB rof deriwdraH 18

District Economic Development Scorecard TargetsOutcomes District Strategy Measure 2017 2018 2019Pillar 1: People – More people are trained and locally employed

Alignment of District economic development efforts to partner objectives1

Benchmark Increase/Maintain

Increase/Maintain

- More community members have skills to meet job demand

- New residents support local employment needs

- More local employment opportunities

- Participation rates increase, notably for priority populations

- Partner to close the labour gap

- Prioritize by assessment and monitoring of labour demand/supply

- Communicate and advocate for policy, programs and funding addressing labour needs

- Facilitate programs and initiatives addressing labour gap

Value of research, intelligence and tools 1, 2


Increase/Maintain

Engagement rate of economic development intelligence and tools3


Increase/Maintain

Pillar 2: Business – There is sustainable and diverse business growth

Ratio of partner co-investment/funding4

1:1 Increase/Maintain

Increase/Maintain

- Existing businesses are expanding

- Productivity increases - New businesses start in

leading sectors of the economy (diversified)

- More businesses export to/enter new markets

- There is better access to foreign investment and venture capital

- Local companies are investing in R&D

- Ease of business increases

- Partner to support business growth and productivity

- Prioritize sustainable growth through a data-driven approach

- Communicate and advocate for policy, programs and funding to remove barriers and expedite growth

- Facilitate programs and initiatives to drive business growth

Business intentions1, 2


Increase/Maintain

Pillar 3: Place – Infrastructure meets the needs of employees and employers

Priority sector lead growth2

Benchmark Increase Increase

- Workability is increasing - Squamish is connected to

a broader ecosystem (regional, provincial, global)

- There is access to land to support current and future business needs

- There is built infrastructure to support growth of existing and new business as needed

- Partner to better connect networks

- Prioritize infrastructure development against economic development needs

- Communicate and advocate for policy, programs and funding that lead to greater workability

- Facilitate programs and initiatives to improve infrastructure and better connect local economy

Percentage of businesses who indicate District economic development activities advance their business objectives2


Increase/Maintain

1 Partner survey to be conducted among Squamish Economic Development Steering Group/sub-committee members 2Business survey to be conducted 3Engagement rate consists of time on website, number of pages visited 4Internal tracking system

District Economic Development Scorecard

24242424

Ha

rdwire

d for B

usiness

21

Ap

pend

ix A:

Tim

elin

e

Com

plet

e in

1 y

ear

•Sk

ills C

onne

ct S

quam

ish P

lan

•Di

gita

l Pro

gres

s Rep

ort

•Ec

onom

ic D

evel

opm

ent

Prog

ress

Rep

ort

Com

plet

e in

9

mon

ths

•Bu

sines

s Acc

eler

ator

Fr

amew

ork

•Sk

ills A

sses

smen

t

Com

plet

e in

6

mon

ths

•Co

nnec

t Pla

ce P

lan

•Co

mm

unic

atio

ns P

lan

Com

plet

e in

3

mon

ths

•Ac

tion

Plan

•Fo

rmat

ion

of th

e Sq

uam

ish

Econ

omic

Dev

elop

men

t St

eerin

g Gr

oup

•M

easu

rem

ent D

ashb

oard

•Ke

y Ac

coun

t Str

ateg

y

App

endi

x A

: Tim

elin

e


Hardwired for Business 22

Appendix B: Potential Community Economic Health Indicators

Indicators Rationale GOAL: The economy is growing while the standards of living are increasing for all Pillar 1: People – More people are trained and locally employedLocal participation rate Health of labour force/communityJob openings Demand assessmentAverage wages Measurement of productivityExperienced labour force by industry Labour supply assessmentPillar 2: Business – There is sustainable and diverse business growthBusiness expansion Progress in growing existing businessesBusinesses exporting/new market entry Export revenue as a proxy for expansion and non‐resident reliance for growthNew leading sector business starts vs. all Progress in defined priority sector growth and assessment of impact of

Economic Development Strategic Action Plan Productivity (GDP per worker) Measurement of quality of life/proxy for innovation and R&D Total employment by industry Measurement of growth and labour participationInvestment in R&D Assessment of innovation, productivity and attractiveness for expansionEase of doing business/climate Assessment of attractiveness, efficiency and growthFDI attracted/venture capital Assessment of attractiveness, innovation and growthPillar 3: Place – Infrastructure meets the needs of employees and employersCommuting time Quality of life indicator and priority for councilNumber of locally owned businesses/employees

Assessment of quality of life (affordability)

Housing costs vs. incomes (affordability) Assessment of digital strategy outcomesDigital penetration Assessment of (current/future) supply vs. demand Existing/available employment lands Assessment of market demand (healthy economy)Vacancy (commercial, industrial, retail) Measurement of productivity, healthy economy and labour force Median household income (family wage) Quality of life indicator and priority for council

Appendix B: Potential Community

Economic Health Indicators

26262626

Hardwired for Business 23

Appendix C: Priority Sector Review

The following is an alignment of federal and provincial government priority sectors. Federal Provincial Aerospace Advanced Manufacturing Agriculture and Processed Foods Agrifoods Automotive Consumer Products Chemicals Education International Education Defense and Security Fish and Seafood Financial Services Industrial Machinery Forestry and Wood Products Forestry Infrastructure Information and Communications Technology Technology Life Sciences Advanced Manufacturing Mining Mining Oil and Gas Natural Gas, Energy Ocean Technology Technology Professional Services Sustainable Technologies Technology Transportation Transportation Tourism Tourism Wine, Beer and Spirits Sources: BC Jobs Plan – 5 Year Update, http://international.gc.ca/global‐markets‐marches‐mondiaux/sectors‐secteurs/index.aspx?lang=eng

Appendix C: Priority Sector Review

The following is an alignment of Federal and Provincial Government priority sectors.


Appendix C: Priority Sector Review Appendix D: BibliographyThe following provides a summary of District strategy and action plans, as well as third-party plans considered in the development of Hardwired for Business. These plans formed the basis for the strategic framework and work plan, as well as the environmental scan and risk analysis.

Council Strategic Plan 2015- 2018 District of Squamish

Squamish Digital Strategy – December 2016 District of Squamish

Employment Lands Strategy – January 2015 District of Squamish

Official Community Plan 2040 – Draft District of Squamish

District Economic Development Review and Action Plan - August 2016 District of Squamish

Branding, Development and Marketing Action Plan – September 2017 District of Squamish

Community and Employer Partnership Plan Squamish 2015-2016 Training Innovations

Strategic Direction - 2017 Squamish Chamber of Commerce

B.C. Rural Economic Development Strategy – March 2017 British Columbia Provincial Government

Ministry of Jobs, Tourism and Skills Training and Minister Responsible for Labour - 2015/16 – 2017/18 SERVICE PLAN

British Columbia Provincial Government

Ministry of International Trade and Minister Responsible for the Asia Pacific Strategy and Multiculturalism - 2015/16 – 2017/18 SERVICE PLAN


Ministry of Forests, Lands and Natural Resource Operations - 2015/16 – 2017/18 SERVICE PLAN


Ministry of Natural Gas Development and Minister Responsible for Housing - 2015/16 – 2017/18 SERVICE PLAN


Ministry of Technology, Innovation and Citizens’ Services - 2015/16 – 2017/18 SERVICE PLAN


Innovation, Science and Economic Development Canada - Departmental Plan 2017-18

Government of Canada

Global Affairs - Departmental Plan 2017-18 Government of Canada

Western Economic Diversification Canada - Departmental Plan 2017-18 Government of Canada

Provincial Outlook, March 2017 Robert Hogue, Senior Economist, RBC Economics

Building Community Prosperity Through Local Economic Development: An Introduction to LED Principles and Practices

George Edward (Ted) Treller, Lochaven Management Consultants Ltd.

Strengthening Canada’s Hometowns: A Roadmap for Strong Cities and Communities

The Federation of Canadian Municipalities

The Evolution of Local Economic Development in Canada Lochaven management consultants ltd.

TechTalentBC Report 2016 WorkBC

Remaking Economic Development: The Markets and Civics of Continuous Growth and Prosperity

Amy Liu, The Bookings Institution, 2016

Global Economic Outlook 2017 The Conference Board

Global Trends, Paradox of Progress National Intelligence Council, January 2017

OECD Interim Economic Outlook Catherine L. Mann, OECD, March 2017

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District of Squamish37955 Second Avenue | Squamish, B.C.

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Hardwired for Business Economic Action Plan · Economic Action Plan 2017-2019Delivering Outstanding...

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