Engaging the Business Community in Economic Development Planning Lauren Millier, Vie-President February 6, 2018

MDB Insight Inc. Full-service economic development consulting firm Engaging Your Business Community MDB Insight Inc. Full-service economic development consulting firm Economic Development Strategy Target Sector + Cluster-Based Analysis Market Research + Analysis Corporate Support Services + Site Selection Expertise We facilitate investment, investment attraction and business development opportunities Assist municipalities create productive partnerships between communities, stakeholders and investors. Provides a strong understanding of the issues facing sustained economic growth across a broad range of industry sectors.

Purpose of a Strategic Plan Engaging Your Business Community Purpose of a Strategic Plan Identify opportunities to advance a local economy and leverage the ongoing efforts of a municipality and its partners Improve the underlying conditions for economic development throughout a community or region Generate a series of strategic actions that enable the creation of jobs, wealth and investment across the region Essential that recommendations resonate with regional stakeholder community – government, business, delivery organizations

Opportunities to Engage Engaging Your Business Community Opportunities to Engage Economic Development Strategies drive the development of or inform: Business Retention and Expansion Programming Business Development Services Foreign Direct Investment Target Sector Strategies Marketing and Promotion Lead Generation Activity

Why this engagement so important? Engaging Your Business Community Why this engagement so important? BECAUSE WE CAN GET IT WRONG! Need to understand perceptions of the strength of the local economy Optimism for their sectors, their businesses How would they promote a community/region Issues with workforce recruitment, Business support services Infrastructure needs

So how do we do this? Municipalities have tools Advisory Committees Engaging Your Business Community So how do we do this? Municipalities have tools Advisory Committees Focus groups/workshops Face to face interviews Online surveys – e.g. Survey Monkey Telephone survey Sector Committees Cross departmental teams

Engaging Your Business Community So how do we do this? Agencies and organizations that regular engage business community have access Chambers of Commerce Provincial Ministries Industry Associations Workforce Planning Boards Real Estate Networks

Key outcomes Stronger level of buy-in for implementation efforts Engaging Your Business Community Key outcomes Stronger level of buy-in for implementation efforts Improves competitive intelligence Establishes a baseline of information to follow trends Ensures better programming and service delivery Assists with mentoring efforts Enhances marketing efforts

Thank you Q+A Lauren Millier, Vice President MDB Insight Inc.