Open House: May 15, 2014 wreds

1. Waterloo Region Economic Development Strategy Open House: May 15, 2014 www.wreds.ca

2. Economic Development – The regional context • The joint Economic Development Study completed 2013 recognized the need for a new approach to the delivery of economic development services throughout the region. • Several action items resulting from study: • ROW Office of Economic Development; • Request to amend the Municipal Act, 2001 to allow for regional participation in employment land development; • Completion of the East Side Master Environmental Servicing Plan (MESP); • Evaluation of options for a new Waterloo Region Economic Development Corporation; and • Creation of a Waterloo Region Economic Development Strategy. 1

3. The Assignment – Objectives The Waterloo Region Economic Development Strategy will: Define a region-wide focus for economic development; Address short to long term priorities; Identify partners and resources required for the Strategy’s implementation; Develop a process for measuring progress; and Provide a strategic framework from which the Region, Area Municipalities and other partners can develop and update their individual strategies. 2

4. The Assignment – Organization Councils Steering Committee The Region of Waterloo and Area Municipalities have engaged Malone Given Parsons Ltd. (MGP) to undertake the development of a new area wide Economic Development Strategy. The project is managed by a Steering Committee consisting of the 8 Municipal CAOs and the CEO of CTT Inc. 3 Advisory Committee CTT Board Municipal Economic Development Officers Stakeholders MGPTeam

5. Project Approach • The Strategy development process involves 4 phases: • Foundations, facts and analysis; • Strategic Directions – Vision, Goals and Objectives; • Action Plans; and • Strategy Document and Approval. 4

6. Stakeholder Engagement – Major themes that emerged • Talent - development, attraction and retention; • Support for existing companies and Small and Medium Enterprises; • Importance of business attraction and Foreign Direct Investment; • Necessity to improve collaboration and coordination; • An organizational framework for regional economic development; • Waterloo Region – A hub of innovation and entrepreneurship; • Excellent educational institutions; • A strengthening arts, culture, and tourism sector; and • To ensure municipal policies are aligned with and supportive of economic development. 5

7. Phase 1 – Central Conclusions 6 • Waterloo Region is strong. • Successful regional economy has prospered by combining a strong educational and research system with the innovative, collaborative, and entrepreneurial ethic. • Strong economic sectors are consistent with an evident competitive advantage in the global value chain. • These advantages are supported by a high quality of life and distinctive regional character. • Many companies and institutions have a global reach and perspective.

8. Phase 1 – Central Conclusions 7 • The economic context is changing. • Increasing pressure on economic output – overall slow down in growth of Gross Domestic Product (GDP). Regional position may weaken compared with other jurisdictions if proactive measures not taken now. • Waterloo Region is competing with other areas within the GGH and elsewhere for the same growth sectors. • The status quo is not a viable option.

9. Phase 1 – Central Conclusions 8 • Waterloo Region can and must respond to the challenge. • All of the elements that make the region a powerful economic location are available to attract people, ideas, capital, jobs, and success. • What is required is an assertive, focused, proactive deployment of these assets to meet the challenge and to ensure a sustainable, high performance region.

10. Developing a New Framework Phase 2 & 3: Draft Strategic Directions & Action Plans Phases 2 and 3 are currently underway and focus on identifying the key elements of the new regional strategy: Vision Goals Objectives Actions 9

11. Vision Statement To be Locally Rooted, Internationally Competitive, and Globally Renowned. 10

12. Goal 1 To be the premier location for innovation and entrepreneurship. Objectives • To expand the universities and college role in innovation and entrepreneurship. • To strengthen the culture of innovation within existing businesses and organizations. • To attract new cutting edge organizations. • To foster 1000(?) new start-up companies within the next 10 years. • To promote international recognition as a creative community. 11

13. Goal 2 To be the most competitive location for new and expanding companies and institutions. Objectives • To communicate a compelling value proposition to foreign and domestic companies and institutions. • To ensure that diverse locations are immediately available over the next 10 years for new businesses and to support the retention of existing businesses. • To ensure competitive costs of location, attracting talent, and doing business. • To make full use of all relevant programs available from other levels of government. • To create the organizational framework that is necessary to ensure efficiencies in economic development. • To ensure fast and effective decision making. • To create the most efficient transportation system to link people to companies and institutions. • To ensure that all local infrastructure is sufficient to meet the needs of the region. • To ensure local municipal policies are developed that are supportive of the Strategy. 12

14. Goal 3 To be a resilient, engaged, and dynamic economic ecosystem. Objectives • To support and stimulate new and existing high growth sectors. • To support and stimulate strong traditional employment sectors. • To ensure a robust service economy that supports a healthy, growing economy. • To nurture small and medium sized enterprise. • To support educational institutions to full-build out of their campus plans. • To support the continued expansion of the agriculture and agri-food sectors. 13

15. Goal 4 To be a community of choice for talented people. Objectives • To become recognized as a major location for art and culture. • To create a green, sustainable, efficient region that anticipates growth. • To ensure an appropriate mix of housing that reflects the needs and aspirations of current and future residents. • To ensure excellent education, recreation, and entertainment. • To support excellent healthcare and supporting organizations. • To enhance the unique sense of place and maintain the urban rural quality. • To support a dynamic and caring not for profit sector. 14

16. Next Steps • Draft a list of Actions to achieve the Strategic Goals and Objectives • Prepare the Draft Strategic Directions & Action Plan Report • Report to Municipal Councils • Finalize the Strategy 15

17. Hearing from You 16 Complete our comment form. Go to the projectwebsite at www.wreds.ca, and submit your feedback.

18. 17 Questions?

19. Waterloo Region Economic Development Strategy Open House: May 15, 2014 www.wreds.ca