NEWS FROM EDABC FOR THOSE INVOLVED IN GROWING BC'S ECONOMY
Economic Development Association of BC Newsletter
Well we have a new Premier. EDABC congratulates Christy Clark on becoming BC's new Premier. We look forward to working with her and her caucus colleagues on creating economic growth in BC. EDABC has spent a great deal of time over the past three months talking with all of the candidates and pushing the work that economic developers do in communities and offering our assistance in items related to economic development. We hope that our offers of partnership will be listened to and that Premier-elect Clark will take it to heart as she develops her new team.
This past month has been busy as we hosted the BR+E seminar. The feedback has been incredible and clearly our choice of Laith Wardi as a presenter was the right one. He wowed the group with his knowledge not only of BR+E but Economic Development in general. He had also obviously done his homework and recognized that the participants would be from all sizes of communities as the information was relevant to all regardless of what type of BR+E program you have.
Not often do you wish a seminar could have gone on for another half day. As a first time attendee, I found the BR+E seminar very well organized in every way. Laith Wardi is an excellent presenter, and his material is relevant and useful. I used some of his suggestions the next day on a site visit. - Bob Andrews, Township of Langley
The reception held on February 21st was attended by almost 100 people. EDO's, Provincial and Federal employees, and members of the Private Sector were all in attendance. We were fortunate to have Minister Kevin Krueger in attendance who spoke highly of the work that EDO's do and his closing line was what really spoke about your value - "BC is a great place to be - and you are the ones making it happen." That says it all!
We also announced our newest partnership. BC Hydro has become the largest supporter in EDABC history. With their assistance, we will be able to offer more programs and services to our members. In addition, they will be sponsoring the BC Economic Development Awards & Banquet in 2011. We are very thankful for their involvement and look forward to working with them throughout 2011 and beyond.
We are also pleased to announce that we have entered a partnership with the Rural BC Secretariat to bring you a series of webinars to help you accomplish your day to day tasks. Check out the Business Friendliness Webinar that will be held on March 17th, 2011.
If you have stories or items that you would like to see covered please let us know.
All the best.
Dale Wheeldon, CEO
British Columbia's 2011 Budget
British Columbia's 2011 Budget includes the following changes to the International Business Activity (IBA) program:
The IBAA is expanded to include Schedule III banks:
As announced on May 11, 2010, the International Business Activity Act (IBAA) is amended to allow Schedule III banks (branches of foreign banks operating in Canada) to qualify for the International Business Activity program with respect to their international financial business, effective April 1, 2011. The IFC BC welcomes this expansion to the IBAA and expects it will help BC grow as an international financial centre.
The positive impact of a 15% corporate tax rate (effective 2012) on income earned by international businesses along with BC's highly skilled and well-trained workforce means BC will be a leading and competitive location for business investment.
MTTI and EDABC Partnering to Help Grow the BC Business Network - AND YOU CAN WIN
The Ministry of Tourism, Trade & Investment and the Economic Development Association of British Columbia have developed a partnership to increase participation in the BC Business Engagement Program. The goal is to ensure that local economic development organizations are seen as the primary contact by their local businesses for trade and investment programs. Your participation in this initiative is a great opportunity to confirm that role and at the same time help to improve the communication between you, your local businesses, EDABC and the Ministry.
EDABC and MTTI have agreed to proactively identify and recruit businesses to grow and diversify the membership of the BC Business Network.
The BC Business Network is a virtual business club for BC companies interested in developing international trade relationships. From a Ministry perspective, this database will improve the awareness, identification and coordination of businesses in key sectors. Most importantly, the BCBN will allow economic development organizations and the Ministry to cooperatively communicate with, and track the engagement of common clients. The BCBN can be used to communicate with and receive feedback from members about market intelligence, trade & investment programs and resources, international business development opportunities, and inbound/outbound trade programs.
Before it was recently re-launched as the BC Business Network, the current database was developed initially to identify potential suppliers for the 2010 Olympic & Paralympic Winter Games. For more information click here
EDABC will be in contact with the local economic development offices who we hope will then identify and communicate with local companies to encourage them to register with the program - which is free of charge. Participating communities will be eligible to win one of 7 EDABC Conference registrations and a $100 travel subsidy will be given to each winner.
Additional information will be provided over the next several weeks on this unique opportunity to increase the awareness of your local companies.
Ministry seeks collaboration with EDO's
The Ministry of Tourism, Trade and Investment and EDABC are partnering to update the community portions of the Invest BC Website.
The Invest BC website is designed as a fulfillment tool for international investors and the Ministry of Tourism, Trade and Investment (TTI) seeks collaboration with economic development officers (EDOs) with interest, commitment and capability to respond to foreign direct investment (FDI) inquiries. EDABC will manage and lead an outreach to most BC communities to engage in their participation in the updating of the "Community Profiles" portion of the Invest BC website and potentially other division initiatives.
Over the coming week, EDABC will develop and launch an outreach campaign involving a large number of communities that is intended to result in long term collaborations involving the Invest BC website to provide detailed investment climate information typically needed by investors and site selectors when choosing a location for investment. A total of 85 communities are included in the website and the Ministry is looking forward to a 100% renewal and recommitment to the website.
Each community contacted will be asked to reregister with BCID and to update the Community Profile portions on the Invest BC portion of the website to include the following information.
5.Industrial / Business parks
6.Business Support Services
8.Quality of Life
Business Friendliness Webinar
The RuralBC Secretariat and Economic Development Association of British Columbia invite you to participate in the second webinar of a new series on community economic development.
Representatives of the Small Business Roundtable, North Peace Economic Development Commission, City of Vernon, Ministry of Finance, Fort St. John Chamber of Commerce, Synergy and Meyers Norris Penny LLP will present at the webinar Business Friendliness on Thursday March 17, 2011 from 1:30-3:00 pm.Join us to explore what it means to be a business friendly community and what approaches, tools and resources exist to help your community become more business friendly.
Unlocking Entrepreneurship: A Handbook for Economic Developers
In an increasingly competitive global marketplace, the capacity of a community's entrepreneurial firms will be the driving force behind economic recovery, job creation, greater resiliency in the face of disasters, and regional economic transformation. For economic developers charged with job and wealth creation in their communities, the significance of entrepreneurship requires them to adapt their practice to focus on access to tools, strategies, networks and institutions that support entrepreneurial firms.
Unlocking Entrepreneurship: A Handbook for Economic Developers has been developed by IEDC under the guidance of its Economic Development Research Partners (EDRP) Program. It introduces economic development professionals to the increasingly urgent need to support entrepreneurship as a necessary strategy, explains what entrepreneurship is and who entrepreneurs are, dissects the essential components of an entrepreneurship ecosystem, and includes a toolkit for practitioners to assess and implement economic development strategies in their communities. Several case studies of entrepreneurial firms as well as organizations that support these businesses provide an insight into the variety of policies and programs out there to support and foster entrepreneurship in a community.
Government of Canada Invests in Canada's Green Future
Canada took another major step towards greening its economy with an investment of $52 million to support the commercialization of clean technologies. The announcement, confirming the decision of the Board of Directors of Sustainable Development Technology Canada (SDTC), was made by Mark Warawa, Parliamentary Secretary to the Minister of the Environment and Member of Parliament for Langley, and SDTC's Senior Vice President, Operations, Maria Aubrey.
"The projects demonstrate leadership in driving technology innovation to help create a viable clean energy industry in Canada."
The University of the Fraser Valley and HAS Den Bosch University will co-sponsor a one-day symposium on March 23rd, 2011 at the Coast Chilliwack, to encourage partnerships between Holland and Canada, and strengthen the horticulture industry.
The Ministry of Tourism, Trade & Investment has added a new Tourism Industry Resource section to their website. This site has been designed to assist tourism stakeholders, whether they are business operators, sector groups or communities. Six sections of information cover topics such as the structure of the tourism industry, tourism planning resources and monitoring and evaluation.
EDABC Partnership Program Attracts New Corporate Partners
The EDABC Partnership Program continues to grow and attract new Partners to support the growth of the BC Economy. These corporations have made significant financial contributions to our efforts and we encourage you to contact them and thank them if the opportunity arises. The following is a list of Annual Partners committed to date:
- Colliers International
- BC Hydro
- Kwantlen Polytechnic University
- Legacy Pacific Land Corporation
- The Westin Bayshore
- Redekop Kroeker Development Inc
- Business Development Bank of Canada
- Canada Asia Business Network
- Dams Ford Lincoln Sales Ltd
- Super Save Disposal
- Tag Construction
- Fortis BC
- Business in Vancouver
The following companies have committed to sponsoring meals, and receptions at our annual conference in Langley from June 5-7, 2011:
MMM Group Ltd, Emterra Environmental, City of Langley, Best Western, Urban Systems Ltd, Wesgroup, Polygon Homes, Keystone Architecture and Planning Ltd, The Langley Concrete Group, Fraser Valley Real Estate Board, Marcon Developments, TD Bank, and BMW/Mini Langley.
New Member Resources this Month
IEDC Unlocking Entrepreneurship - A Handbook for Economic Developers
Westin Bayshore - EDABC Membership Rates and Codes
The Westin Bayshore in Vancouver has renewed its support to EDABC and for our members for 2011. The rates are similar and are substantially lower than what you would pay if you were a non-member. For every night booked and completed, the Westin Bayshore will pay EDABC $10.00 towards assisting in providing Professional Development.
You must ask for the 'Economic Development Association of BC" rate when booking.