Enterprise Fredericton Community Advisory Forum June 26, 2012
The Economic Landscape in theGreater Fredericton Region
Fredericton was identified as the “One of the Top 2 Most Cost-Competitive Places to Do Business in North America”
Key Cost Factors:
- Labour Costs
- Facility Costs
- Transportation Costs
- Utility Costs
- Taxes
Co-sponsored by the City of Fredericton and Enterprise Fredericton
Enterprise Fredericton is…
10 full-time; 3 part-time staff
Hosted 65 local events – 2,482 business people attended
721 business counseling sessions - 300 business opportunities identified
Youth Entrepreneurship Development Initiative programs engaged 1,688 potential entrepreneurs
FRYPE hosted 12 events with a growing group of 500+ members
129 Government Funding Program projects, investing $ 31,753,903
KITF Golf participants donated $8,100 the Oromocto Foodbank
581 new landed immigrants in 2011 (11 year total of 4,459)
Enterprise Fredericton (EF) has been a leader in the community for over 20 years focusing on a sustainable economic development agenda. Enterprise Fredericton focused on strengthening the Greater Fredericton Region by supporting business growth initiatives, training and skills development, community capacity building and population growth initiatives.
Investment Client Site Visit“Tiger Teams”
InvestFredericton.com
Targeted Investment Strategy
Workforce & SkillsDevelopment Strategy
Retention Strategy
Repatriation Strategy
Immigration Strategy
Business Competitiveness Initiatives
Strategic Partnership Model
Population Growth Community Based Advisory Board
Business Counseling
Business Skills Development
Youth Entrepreneurship
Commercialization Acceleration
Priority Sector Competitiveness/Productivity
Export Development
Innovative Culture
* EF board is currently reviewing the strategy (3 pillars)
Population Growth in Greater Fredericton Region
Total = 10,300 Additional People Age 15 + since 2000
Source: Statistics Canada
Workforce Growth in the Greater Fredericton Region
There has been a drop of 4.6% from 2011 to 2012 (3,500 people)
Source: Statistics Canada
Employment Growth in the Greater Fredericton Region
Employment decreased by 5.6% from 2011 to 2012 (3,900 jobs)Source: Statistics Canada
Employment in Atlantic Cities
Average Household Income - Greater Fredericton Region
Source: FT Markets Survey
In 2012, there has been a gain of +1% compared to the national average making it only 2% below.
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 $-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000 Canada
Fredericton
New Brunswick
Average Per Capita Income - Greater Fredericton Region
Source: FT Markets Survey
In 2012, there has been a gain of +1% compared to the national average making it only 2% below.
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 $-
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000 CanadaFrederictonNew Brunswick
Source: City of Fredericton
Residential and Commercial Construction Numbers ($ Millions)
New Development $$$ in the City of Fredericton
11 Year Total = $1.252 Billion in New Development
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 $-
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
$115.6
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110
100
200
300
400
500
600
248263
206
159
195
312
486
409
544
493
563581
Enterprise Fredericton initiated the PNP In-trust account
Source: Citizenship and Immigration Canada
New Permanent Landed Immigrants in the GFR
11 Year Total = 4,459 New Permanent Landed Immigrants in GFR
Net New Registered Businesses in the GFR
Source: Royal Gazette 2000-2011
11 Year Total = 7,082 new net businesses created
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110
100
200
300
400
500
600
700
800
900
1000
531 552522
595626 612
661
589
662
567613
552
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110
1000
2000
3000
4000
5000
6000 $5,644
$947
$331
Fredericton
Oromocto
New Maryland
Tax Base Increases in the Greater Fredericton Region
Total Tax Base in the GFR ($Millions)
Source: GNB
2011 Year Total = $6.922 Billion Tax Base in the GFR
Our Knowledge Park
Enterprise Fredericton is the sole shareholder of the Knowledge Park Inc.
In 2011, the construction and occupancy of the 2 new buildings had the designation as business story of the year in the Daily Gleaner
Knowledge Park – Future Total Annual Impact (Buildings 1 – 5)Direct Indirect Total (NB)
Jobs (FTE) 1,274 326 1,600Wages & Salaries ($Millions) $71.3 $9.5 $80.8Output ($M) $106.4 $30.8 $137.2Provincial Fiscal Impact ($M) $25.0
Source: InPro, Stats Canada
Population Growth Strategy
Multicultural awareness and education
Immigration welcoming and orientation
Immigrant settlement and integration
Business / employment resources
Stakeholder-partner engagement
Components that Enterprise Fredericton is Engaged in…
Business Retention & Expansion (BR&E) Strategy
One-on-one business counseling session
Encouraging the entrepreneurial spirit with youth and adults
SEED Loan program for start-up businesses
Business education and training
Provide assistance with companies looking to relocate, expand or close
Client outreach initiatives
Coordination and collaboration with stakeholders
Investment Attraction Strategy
Industry focused strategy – Defence Industries
Targeted sectors – ICT, Defence & Aerospace and Bio Sciences
Available commercial real estate site promotion
Supporting networks & organizations (NBADA, TTNB, etc.)
Assisting with investment requests (site location & planning)
2012 KPMG Competitive Alternatives study
Some of our Community’s successes…
Enterprise Fredericton Hosted Events
KIRA Awards
FRYPE
Business Basics
Cybersocial
KITF Golf
Business Buzz
Youth Entrepreneurship
Immigration Events/Support
420 attended
500+ Members
75 participants
Avg. 55 per session
Contributed $8,100
Building on leadership
Reaching out to 1,688 youth
BIMP Training
Looking Forward…
Population Growth & Workforce Development - Youth Engagement - University & College Enrolments - Retention, Repatriation, Immigration
- Immigration Coordinator Position
Investment Attraction - Community & Business Engagement and Awareness - Facilitate and Align Resources with Identified Opportunities - Business Directory, Capabilities & Company Profiles
Business Retention and Expansion - Entrepreneurial Awareness Skills Development (schools, universities/colleges, existing entrepreneurs, etc.) - Entrepreneurship Celebration
- Business Pulse - BR&E business outreach site visits - Productivity and Competitiveness Initiatives - Innovation Support: Knowledge Park Inc., Business Accelerator Centre - Commercialization - Export & Trade
* The go forward plans are subject to refinement/revision as a result of ACOA’s funding decisions
2012-13 Enterprise Fredericton Board Initiatives
New Vision & Direction for the Greater Fredericton Region
New Economic Development
Model
Your Enterprise Fredericton Board of Directors
Allison McCarthyStewart McKelveyChair
Heather-Anne MacLeanRadian6Vice Chair
John ArgallBioAtlantechSecretary/Treasurer
Susanne AlexanderGoose Lane EditionsPast Chair
Kevin KilbrideTherma-Ray Inc.
Bob SkillenUniversity of New Brunswick
Annette ComeauLearnSphere
Al CarsonAmbir Solutions
Mike OliverAtlantic Hydrogen
Alex ScholtenCanadian Convenience Stores Association
Trevor CooksonAccreon
Paul LegerPartners Global
Dan KeenanZone 3, Horizon Health Network
Ian BairdMITACS Inc,
Your Enterprise Fredericton Team
We would like your input…
What do you see as opportunities for economic growth in the Greater Fredericton Region?
What do you see as challenges to economic growth in the Greater Fredericton Region?
Please offer any advice or suggestions that would make our community an even better place for retaining and attracting business.
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