Presentation to Northwestern Ontario EDOs

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Presentation to Northwestern Ontario EDOs

• Creating a Pan-Northern Regional Investment
  Attraction Initiative
• NODN Annual Meeting November 3, 2005

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Background

• In an era of globalization, regional economic
  development initiatives provide necessary
  economies of scale to assist communities to
  better compete / penetrate international markets
  and attract foreign investment e.g. GTMA, Ottawa
  Centre for Research Innovation (OCRI),
  Technology Triangle, EOEC.

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Background cont.

• Current level of international business activity
  in northern Ontario is significant as evidenced
  by presence of such companies as Atlas-Copco
  Redpath Boart Longyear Sandvik, INCO,
  Falconbridge, Wyerhauser.

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Background cont.

• Several northern Ontario cities partners have
  pursued individual initiatives to build capacity
  attract FDI e.g. Sault (Italy) North Bay
  (Chile) Sudbury (Germany) Thunder Bay (Midwest
  U.S.).
• An initial IA package involving six communities
  has been created for the German market.

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Rationale - Why Pan-Northern?

• Individual communities are presently unable to
  generate economies of scale required to create
  their own I.A. initiatives.
• Regional support base for community global
  investment marketing activities
• A larger critical mass will provide greater
  capacity for investment attraction from a broader
  segment of global markets.
• Potential for success is significantly enhanced
  by a coordinated approach.

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Business Opportunity

• Participation in a Pan-Northern Investment
  Attraction Model which will position northern
  Ontario its communities as a preferred location
  for international business investment and growth.

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Goals

• Increase the level of foreign direct investment
  (FDI) thus complementing existing community
  business retention and expansion activities.
• Promote a higher level of local economic activity
  leading to greater employment, lower
  out-migration and community growth.
• Develop a foundation for related investment
  activities i.e. capacity building, international
  marketing / relationship building.

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Benefits

• Built in economies of scale all communities
  sectors with access to global markets
• Depth capacity to complement EDO activities
• Non-government environment flexibility/response
• Resource to participating communities for
  individual investment initiatives
• Sustained regional support to smaller, previously
  non-inclusive groups

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Positioning How to be Achieved?

• Attracting participation from a variety of
  sources including municipalities, provincial and
  federal governments, institutions and
  corporations.
• Leverage partnerships (critical mass) to compete
  with existing regional economic development
  organizations in other jurisdictions.

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Who are the Partners?

• International Trade Canada
• FedNor - Industry Canada
• Municipalities
• CFDCs
• Regional Economic Groups - RDEE
• Provincial E.D. Initiatives - RED

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Deliverables

• I Competitive / Capacity Analysis
• - community / regional profiles
• - industry profiles/ performance
• - education / skills profiles
• II Regional Investment Capacity
• - capital investment / tax credit programs
• - networks, mentorships, Best practices
• III Regional Partnership Model
• - alternatives for cooperation between
  communities re investment, trade, e.d.
  initiatives

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Deliverables cont.

• IV SWOT Analysis
• - strengths, weaknesses, opportunities and
  synergies within and between communities
• - global threats and challenges re FDI
• V Development of Business / Marketing Plan
• - geographic/sectoral research lead
  generation/ targeting strategies integrated
  marketing tools
• - global communications plan to include
  branding, web-based and in-market activities
• - implementation / execution strategy
  including timelines impact measurement criteria

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Implementation

• Municipal Partners / funding secured
• Steering Committee in place
• RFP issued closing date November 15, 2005
• Project start date December 1, 2005
• Completion date (Phase I) April 1, 2005