Head and Regional Office Report Presenation
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Head and Regional Office Report Presenation

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The Greater Halifax Partnership released the findings of their Head and Regional Office (HRO) Report. This presentation illustrates why HROs are viable for the city of Halifax.

The Greater Halifax Partnership released the findings of their Head and Regional Office (HRO) Report. This presentation illustrates why HROs are viable for the city of Halifax.

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  • Research shows that head offices tend to be in major cities….$1million +¾ of Canadian Head office are locaed in MTV+GNumbers of Head Offices are certainly affected by M&A actitivity nd foreign take overs….but new ones are being created all the timeJust because we have seen M&A activity in Halifax in recent years shouldn’t mean our status as a head and regional office location should deminishIndeed we should be able to grow them if we cultivate the right environment.Most new head offices come from small companies growing larger. Nova Scotia is at the Canadian average..Westward shift in concentration…with Alberta with the highest concentrationHave had a Head Office Strategy for some time.

Transcript

  • 1. EMPOLYMENT CHARACTERISTICS IN THE BEGINNING
  • 2. WHY STUDY HEAD AND REGIONAL OFFICES  Better understand the role of HROs in the economy  GDP, income, jobs and supply chain  Impact on quality of life  Disproportionate impact?  HROs behavior during economic cycles  Find ways to retain and grow HROs
  • 3. IMPACT OF THE INSURANCE INDUSTRY
  • 4. HRO INSURANCE
  • 5. HRO INSURANCE
  • 6. EMPOLYMENT CHARACTERISTICS HALIFAX HRO IMPACT
  • 7. Presented by Funders
  • 8. OBJECTIVES  A blueprint to attract, retain and grow HROs  Develop a value proposition for HRO growth  How do we best market Halifax for HROs  Raise awareness about HRO impact  Develop an approach for HRO outreach
  • 9. APPROACH  Literature review  Trends  Benchmarking  Best Practices  Impact analysis
  • 10. EMPOLYMENT CHARACTERISTICS HRO PROFILE
  • 11. 8.2 CANADA 7.1 BC 10.7 AB 8.9 SK 8.7 MB 8.5 ON 7.21 QC 7.1 NB 8.2 NS 7.0 NL HEAD OFFICES IN CANADA Ratio of Head Offices per 100,000 Population Source: Statistics Canada, Annual Head Office Survey, 2012, CANSIM Table 528-0001
  • 12. HOW ARE OTHERS BUILDING THEIR HRO BASE?  Mississauga  Building existing relationships  Calgary  “Western Canada’s Head Office Centre”  Montréal  Listed head offices as a priority sector  British Columbia  International Head Office Attraction Strategy
  • 13. OTHER JURISDICTIONS PAYING ATTENTION TO HEAD OFFICES
  • 14. HEAD OFFICE TRENDS
  • 15. EMPOLYMENT CHARACTERISTICS IMPACTS ECONOMIC
  • 16. APPROACH  Impact Analysis  61 company cross section  32 interviews, 19 third party data  Study included 24 of the 78 head offices in NS  Difficult to determine number of regional offices
  • 17. THE HRO SECTOR IS 3 TO 5 TIMES LARGER THAN THE CROSS SECTION USED IN THIS STUDY 3x 5x To
  • 18. Source: Hoovers, InfoCanada, Greater Halifax Partnership, 2013 30% MANUFACTURING 16% FINANCE, INSURANCE, AND REAL ESTATE 21% PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES 8% INFORMATION & CULTURAL INDUSTRIES 7% CONSTRUCTION 5% ADMINISTRATIVE & SUPPORT, WASTE MANAGEMENT & REMEDIATION 3% UTILITIES 3% MINING, QUARRYING, & SUPPORT 3% TRANSPORTATION & WAREHOUSING 2% HEALTH CARE & SOCIAL ASSISTANCE 2% RETAIL TRADE HEAD & REGIONAL OFFICES BY MAJOR SECTOR, HALIFAX
  • 19. Source: Hoovers, InfoCanada, Greater Halifax Partnership, 2013 PROFESSIONAL, SCIENTIFIC & TECHNICAL SERVICES MANUFACTURI NG FINANCE, INSURANCE & REAL ESTATE OTHER (MINING, CONSTRUCTION, RETAIL, HEALTH CARE) INFORMATION & CULTURAL INDUSTRIES TRANSPORTATION & WAREHOUSING HRO EMPLOYMENT BY MAJOR SECTOR, HALIFAX 29% 24%18% 13% 11% 6%
  • 20. 13,460 SPINOF F Source: Hoovers, InfoCanada, Greater Halifax Partnership, 2013 IMPACTS ON THE NOVA SCOTIA ECONOMY PERSON-YEARS OF EMPLOYME NT 12,151 DIREC T TOTAL 25,611 HOUSEHOLD INCOME $574.5 MILLION DIRECT $744.1 MILLIO N SPINOF F TOTAL $1.3 BILLION
  • 21. POTENTIAL HOUSEHOLD SPENDING IN NOVA SCOTIA MORTGAGES $77.5 M RENT $43.9 M UTILITIES $56.2 M HOUSEHOLD MAINTENANCE $8.5 M BUYING CARS, VANS, TRUCKS $83.7 M
  • 22. POTENTIAL HOUSEHOLD SPENDING IN NOVA SCOTIA RESTAURANT MEALS $38.2 M STORE-BOUGHT FOOD $101.4 M TOTAL $139.6 M FOOD SPENDING CHARITABLE CONTRIBUTIONS $11.9 M ENTERTAINMENT $11.9 M RETAIL ITEMS $92 M
  • 23. Source: Economics and Statistics Division, Nova Scotia Department of Finance, 2014 $1.1 BILLION SPINOFF GROSS DOMESTIC PRODUCT $1.3 BILLION DIRECT TOTAL $2.4 BILLION FEDERAL $192.7 MILLION PROVINCIAL $193.9 MILLION GDP IMPACT TAX CONTRIBUTION
  • 24. Source: Hoovers, InfoCanada, Greater Halifax Partnership, 2013 DIRECT GDP PER WORKER TOTAL NOVA SCOTIA ECONOMY (2012) $93,350 SAMPLED HROs IN HALIFAX (2013) $109,760 AVERAGE WAGES (2012) ALL INDUSTRY AVERAGE, NOVA SCOTIA $790 HEAD OFFICE OPERATIONS, HALIFAX $1,083
  • 25. CHARITABLE GIVING & COMMUNITY DEVELOPMENT Community Development Participation Employee Giving Corporate Giving
  • 26. EMPOLYMENT CHARACTERISTICS OBSERVATIONS KEY
  • 27. “Head Offices are precious jewels in our economy. They provide high paid career development opportunities, job security, earnings as well as build supplier communities. Head offices build wealth and growth that stays here, in Nova Scotia.” Steve Parker, Chairman & CEO, CCL Group
  • 28. Source: National Household Survey 2011 HALIFAX’S SHARE OF N.S. PRIVATE SECTOR MANAGERS SENIOR MANAGERS IN FINANCIAL, COMMUNICATION S, & OTHER BUSINESS SERVICES 72% 61% 51%SENIOR MANAGEMENT OCCUPATIONS ALL MANAGEMENT OCCUPATIONS
  • 29. CHOOSING A HEAD OFFICE LOCATION Auther D. Little
  • 30. OBSERVATIONS  11 jobs for every additional $million in GDP  M&A means HROs are always disappearing  Creating new head offices means helping a handful of existing companies grow  HROs are heavily integrated into the Halifax economy  HROs are inter-dependent  HROs are a source of community pride
  • 31. WHAT TO WORK ON  Quality of place  Tax and regulation  Support services (ICT, legal, PR, accounting)  Transportation links  Community needs to engage with HROs  HROs need to engage with community
  • 32. 34 34
  • 33. THANK YOU!