NEWS FROM EDABC FOR THOSE INVOLVED IN GROWING BC'S ECONOMY
Economic Development Association of BC Newsletter
I am pleased to provide you with a copy of our September "The Pulse" Newsletter.
This months issue contains useful information including the official results of the 2010 Membership Survey. We would like to thank Jamie Vann Struth of Vann Struth Consulting for his work in gathering and putting together the results.
We are working hard through various initiatives to bring new business to BC. In 2011 we hope to roll out a new Marketing initiative that we hope many of you will consider joining. By developing a teamwork approach to economic development marketing we hope that all of BC can see benefits. This low cost affordable option is still being planned with further details to be announced by the end of 2010.
Another initiative we are working on is a new Business Retention and Expansion program. If you are considering purchasing new software for your initiative we encourage you to hold off as we work through details on what we think may be a new and viable option for your to consider. Our ability to proceed will depend on our success in putting together a partnership with the Government of BC. If we are successful you will be saving significant money on a program that can help you gather the local business intelligence that you need to develop effective programs for your business community.
EDABC encouraged EDAC to coordinate a national approach to expressing our concerns about the elimination of the long form census. The information gathered in that census is critical and makes up a large part of the Data Standards required by Site Selectors considering new locations in Canada. A letter, signed by each Provincial Association was sent to the Government of Canada expressing these concerns and asking that the decision be reconsidered.
You are encouraged to share this newsletter with anyone that you think would benefit from the information. Some of the items are linked to the members only section and we hope with your help this will result in an increase of membership to EDABC. We continue to send out membership E-Blasts which will include RFP's, Job Postings, and other time sensitive materials available only to members.
2010 EDABC Membership Survey - The Results are In.
The final report, presenting the results of the 2010 Membership Survey of the Economic Development Association of British Columbia (EDABC) is now available to EDABC Members. The online survey was launched on March 25, 2010 and the final response received on April 28, 2010.
The survey is a shortened version of previous EDABC surveys, with some additional questions modified and added by the EDABC CEO. A summary of the survey results was presented at the EDABC Conference in Osoyoos on June 8, 2010.
Economic Gardening: An Entrepreneurial Alternative to Traditional Economic Development Strategies
First introduced to EDABC Membership in 2007 at our annual conference, IEDC has released a new update prepared by Chris Gibbons, founder of Economic Gardening.
Economic Gardening is an entrepreneurial alternative to traditional economic development strategies. This new approach, created in Littleton, Colorado, in 1987 in response to massive corporate layoffs, uses high end corporate level tools and cutting edge scientific concepts to help entrepreneurial growth companies identify markets, monitor competitors, track industry trends, locate customer clusters on maps, and use search engine optimization/Google Adwords/social media for marketing and various customized research. Entrepreneurs have increased the job base in Littleton from 15,000 to 30,000 and the sales tax base from $6 million to $20 million. The model has been picked up by a number of communities, states and Provinces.
More information on Economic Gardening can be found here.
More Jobs, Higher Housing Starts & Improved Finances
According to Statistics Canada, more than 5,400 new jobs were created in BC during the month of August. Unemployment in our province is down to 7.3%, well below Canadian average of 8.1%. In the United States, the national unemployment rate is 9.6%.
So far this year, 52,100 new jobs have been created in BC, bringing the total new jobs since 2001 to more than 421,000.
On the housing front, a federal report says BC housing starts in August were up 24% from July and yearly projections show continued growth. New home construction is an important part of the BC economy.
On September 14, BC Minister of Finance Colin Hansen announced that BC's projected deficit for the current fiscal year has decreased by $335 million due to the strengthening economy and increased revenues from business.
Port of Prince Rupert is Going Green
The Fairview Container Terminal in Prince Rupert is going green. On September 14th, the Minister of the Asia-Pacific Gateway announced that Canada will be investing nearly three-quarters of the funds needed for the terminal to be the first Canadian port to provide a green alternative.
"I'm pleased to announce that between our marine shore project and our Western Development Initiatives, we're announcing 2.5 million dollars for the installation of the marine shore power installation right here at the port in Prince Rupert" Announced Stockwell Day, Minister of the Asia-Pacific Gateway.
Other partners including CN, Transport Canada and the Province will cover the additional costs required for the installation of a giant 69-kilovolt distribution line that BC Hydro will supply.
The President and CEO of the Port Authority says going green is the right thing to do from both a business perspective as well as an environmental one.
Organizations sign new partnership funding contract for Destination Osoyoos Three organizations - the Town of Osoyoos, the Regional District Okanagan-Similkameen (RDOS), and the NK'MIP Resort Association - have joined forces to provide operational funding for the area's tourism agency, Destination Osoyoos (DO), for the three-year period 2010-2012.
In addition, the new contract paves the way for all four groups to collaborate in the development of future innovative marketing initiatives that will increase the community's tourism industry. The local tourism industry, which has grown significantly in recent years, is currently valued at approximately $70 million per year.
Today and tomorrow (October 4th and 5th) are moving day. We apologize for any inconvenience that may be caused from this move. We are being relocated to new office space in order to serve you better. This move has resulted in a shorted newsletter than we had hoped but we want to get it sent out as soon as possible. If we have missed any critical items we will send them via e-blast once we are back up and running. Please note that our phone lines and Internet will be down as of 3:00 PM on October 4th and will be reconnected by noon on October 5th.
The International Financial Centre British Columbia (IFC BC) promotes British Columbia as a location for investment and encourages corporations to take advantage of the favourable tax treatment available under the International Business Activity Act (IBAA).
Western Canada Hotel and Resort Investment Conference
October 18-19, 2010
Site Selector Familiarization Roundtables
November 21 and 22, 2010
UPDATE - CALL FOR 2011 APPLICATIONS
- ICCI Applications -
Only 1 week left to submit
As of September 7, 2010, the Invest Canada-Community Initiatives (ICCI) component of the Global Commerce Support Program will be accepting applications from Canadian communities seeking financial support for their foreign direct investment initiatives for the 2011 calendar year.
Check the EDABC Website often for new Job Postings. We do send out notices as new ones are posted.
Executive Director, CFDC Thompson Country
Senior Consultant and Associate Consultant - Millier Dickenson Blais
Westin Bayshore - Support for EDABC and its Members
The Westin Bayshore in Vancouver has long been a great supporter of EDABC. Now they have taken it a step further. We have entered into an agreement with the Westin Bayshore where they will provide you with Exclusive rates as an EDABC Member. The rate for the high season starts at $149 and the low season starts at $129. This is comparable to government rates. But that is not all!! 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.
The Pulse is circulated to almost every BC community. The readers in those communities are the primary contacts for reaching BC's businesses. In addition, the newsletter reaches staff from senior levels of Government, private developers, real estate agents, consultants and more.
Advertising opportunities are available at reasonable costs - contact firstname.lastname@example.org for more details.
Economic Development Association of British Columbia