Category Archives: Economic Development

Three reasons to attend the 2017 Teeny Tiny Summit

The 2017 Teeny Tiny Summits focus on economic development in Ontario’s smallest communities. Don’t miss it!

Here’s why:

  1. Peter Kenyon. That’s right, the renowned Australian community development expert is returning to Ontario. Mr. Kenyon has worked with over 2000 communities in 59 countries. He initiated the Bank of I.D.E.A.S. (Initiatives for the Development of Enterprising Action and Strategies). He is a gripping storyteller with wisdom toKeynote-Speaker-Peter-Kenyon share from all over the world about effective community development initiatives. Mr. Kenyon will provide the keynote address to kick off the summits and spend the rest of the day with us.
    Continue reading Three reasons to attend the 2017 Teeny Tiny Summit

Input-Output Predictive Scenario Report

AnalystUsing Analyst’s Input-Output Scenario report you can predict the expected impact of a business loss or gain in your community in terms of  jobs, sales, or wages, and how that event would impact other industries regionally. It gives you the ability to “shock” an economy and measure the impacts.

It also gives you the predictive ability to see:

  • The effect of a new company locating in the local regional economy,
  • The effect of adding jobs to an existing industry sector (such as a major company expansion)
  • The effect of losing a company/losing jobs from the local regional economy

For example, if we wanted to understand the impact of an animal feed mill’s in rural Ontario. We would go through the following steps to get the information that will help us understand the impacts.

First Step: choose a region Continue reading Input-Output Predictive Scenario Report

Driving the conversation forward with youth in Perth County

Across rural Ontario, where youth out-migration to urban centres is a concerning trend; finding new ways to engage young people in their communities is increasingly important. More needs to be done to incorporate the voice of youth in local planning and development processes. 

“Youth will only return home if they feel they have left something behind”

Jacinda Rudolph of LaunchPad at Rural Ontario Summit, 2016

Perth County is one community that is making progress on this front. The county knows that the success of tomorrow’s workforce is deeply dependent on being able to stop the out-migration of its youth population, and they are taking an active approach to ensuring this trend stops.

The communities of Perth County are taking innovative steps to incorporate the voice of youth in the narrative of community development.

“Youth are important contributors to our economy and to our communities’ overall quality of life,” says Meredith Forget, Economic Development Officer for Perth County. “Youth are entrepreneurs, performers, volunteers, mentors, community leaders, employees to small businesses and consumers in our local economies. Youth have a significant impact on the vitality of their communities, and we are looking for ways to support them – in growing, learning, working and making a home in rural Ontario.”

The Perth4Youth Strategic Planning initiative is wrapping up after many months of hard work, community consultations and action planning. This initiative to date has been led by Perth County’s four lower tier municipalities and the cities of Stratford and St. Marys, with support from their respective municipal councils.

To enrich data gathering efforts for the broader Perth4Youth initiative, a unique youth focused, civic engagement process was developed and implemented. This process has brought together multiple community and educational partners to deliver a unique applied learning opportunity for students, and a medium to better express and capture the community’s youth voice. This initiative creates the opportunity to incorporate data collected by youth, for youth, into community based strategic planning.

Three energetic and motivated students from Listowel District Secondary School (LDSS) students took on this project last semester as part of their coursework in this their 4th and final year of high school.

This youth engagement pilot was designed to:

  • Engage students in their communities, and foster an appreciation for the value of civic engagement and municipal governance
  • Support students along the way in “learning by doing”
  • Gather data to inform the Perth4Youth strategic planning process and future community action to support youth.

In carrying out their in-school consultations with their peers, the LDSS student team produced: Continue reading Driving the conversation forward with youth in Perth County

Ontario Business Improvement Areas Releases Return ON Investment Report

The “first ever” report of this kind,  establishes a baseline of the economic and social contribution of Business Improvement Areas to Ontario’s communities.

The Return on Investment of Business Improvement Areas (BIAs) project was spearheaded by the Ontario Business Improvement Area Association (OBIAA) and Toronto Area Business Improvement Association (TABIA) and funded through the Ministry of Municipal Affairs (MMA).

The primary goal of the year-long project was to:

  • Establish a set of common indicators for BIAs across Ontario
  • Create a pool of tools and metrics for BIAs to share their impact and analyze trends
  • Understand what is happening in Ontario’s downtowns and mainstreets
  • Outline existing gaps in the data base and how to go about filling them

The consultative process throughout the project was extensive and included a broad range of input from a full spectrum of BIAs, municipalities, and other stakeholders.

“Our goal was to provide the over 310 BIAs across Ontario with the understanding they need to manage and grow their capacity to be vital partners to their members, to their communities and to their municipalities,”

Kay Matthews, OBIAA’s Executive Director.

The ROI Report identifies that BIAs are:

  • Unique in scale and geography
  • Big on passion
  • Ground Zero for business innovation and incubation because they support small businesses

Here are some key observations from the report:

  • BIAs can drive employment, with the survey of 162 BIAs across the province highlighting BIAs that are attracting notable levels of employment to an area (increased the daytime population by over 800% in one BIA), and BIAs that account for a significant proportion (ranging from 0.2:1 to 0.9:1) of the jobs in a community.
  • An average of 6% of BIA membership represents new businesses.
  • Based on Real Estate Board data, the cost of a single family home or condominium within 500m of a BIA rose on average 46% between 2011 and 2016.
  • 75% of BIAs have a significant stock of properties that are either heritage-designated or of heritage interest.
  • BIAs produce an estimated total of 1200 events each year, and another 1300 produced by other community organizations land within the BIA boundaries.
  • Over half (55%) of reporting BIAs had members leveraging façade programs, generating an average 2.5:1 private sector to municipality investment ratio with an average of $0.17 per capita invested

Continue reading Ontario Business Improvement Areas Releases Return ON Investment Report

Attracting & Retaining Immigrant Talent in Rural Areas – Free Webinar

The workforce population is shrinking as more and more baby-boomers retire. This will result in more pressure for communities to actively attract and retain immigrant talent. 

This webinar is designed to help rural employers and communities understand how to attract newcomers.

Details
Date: Thursday, April 6
Time: 12 pm – 1 pm
To register:
https://www.eventbrite.ca/e/attracting-retaining-immigrant-talent-in-rural-areas

Continue reading Attracting & Retaining Immigrant Talent in Rural Areas – Free Webinar

Add Value to Your Agricultural Business: Learn How to Turn Your Ideas into Reality

Take the OMAFRA course, Exploring Value Added Opportunities, to learn whether adding value to your products and services is right for your business.  Register today for the March 31 workshop to be held in Sunderland, Ontario! Your registration fee includes resource materials, lunch and refreshments.

Ever wondered about turning your fruit into jam?  Ever dreamed about making gourmet ready-to-eat meals with your produce?

Take the Exploring Value Added Opportunities (EVAO) course to help you increase your profits through the creation of new products and services or value-added opportunities at your farm or food business. Our course can help you: Continue reading Add Value to Your Agricultural Business: Learn How to Turn Your Ideas into Reality

3 Lessons on Innovation from the Economic Developers Council of Ontario Annual Conference

I had the opportunity to attend the 60th annual Economic Developers Council of Ontario (EDCO) conference that took place in February. Delegates from across Ontario included economic development officers, municipal elected officials, staff from several Ontario ministries, and industry leaders representing manufacturing, business, planning, IT, and tourism.

The theme this year was Driven by Innovation. The following are my top three takeaways from the EDCO conference. Continue reading 3 Lessons on Innovation from the Economic Developers Council of Ontario Annual Conference

Analyst: Input-Output Modelling. A Closer Look.

Now that the the Input-Output Modelling tool, for Analyst, is available (read previous blog post here), it is time to take a closer look at one of the new reports, Regional Requirements.

Regional Requirements is just one of six new reports available in Analyst under the Input-Output Module. The report helps quantify the goods and services that a region requires from each industry, as well as the degree to which those requirements are met within the region.

This report can be used to perform comparative analysis of industries across the regions. It can answer questions like:

  • What value of purchases industries are making inside a region?
  • What value of purchases industries are making outside a region?
  • Where jobs are potentially leaking as a result?

This report gives the user two perspectives:

  • Region vs. Industry: what industry demands are being satisfied from within, and beyond the boundaries of a region?
  • The regional supply chain, in the broadest sense, is characterized by the industries within the region

Economic development officials can use this data to enhance their efforts accordingly.  This data can help identify and support:

  • What are all the industries in a region?
  • What industries are primarily using imports to service their needs?
  • Which industries may be able produce locally to reduce or substitute imports?
  • What jobs are need to for import substitution to be locally sustainable?

This report identifies where local demand is being sourced from and whether it is inside or outside the region.

First, identify the region(s) you want and click Run.

rr1

A similar table to the one below will appear. Find what level of industry you need by changing the level of NAICS codes, and based on the level you can filter by that NAICS industry.

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Demand Met In-Region: amount spent on an industry by all business and population in the given region met within the regional economy

Demand Met by Imports: amount spent on an industry by all business and population in the given region met outside the regional economy

Clicking on any of the column titles will order the table in ascending/descending order to easily find the highest/lowest dollar amount or percentage.

titles

Moreover, selecting the Export button in the top right corner gives you the option to save your findings as an excel file.

One more blog post to come regarding Input-Output Modelling in Analyst.

For the meantime, check out this tutorial of how to navigate and use the Regional Requirements Report or click for more information on Analyst.

New Economic Modelling Tool

Analyst Input-Output Tool

The Ontario Ministry of Agriculture, Food, and Rural Affairs – in partnership with Economic Modeling Specialists International (EMSI) – is excited to announce the addition of a Canadian version of their Input-Output Modelling tool in Analyst.

Input-Output models map out linkages within an economy by tracing the connections between industries, households and government. This is done by tracking the flow of money between those entities within a geographic area (for more background on input-output modelling). Continue reading New Economic Modelling Tool