Each year Enterprise Fredericton presents the Economic Development Champion Award. This award recognizes an individual or organization in our community that has made a significant contribution to the economic development of our Region. Our 2011 recipient of the Champion Award is the University of New Brunswick’s Office of Research Services.
UNB’s Office of Research Services is an integral part of the growth in our business community. Over the past 10 years, the Office of Research Services has assisted in the creation of 17 UNB spin-off companies who have raised over $60 million in venture capital investments. Some of the successful spin off companies from the Research Office include: Q1 Labs Green Imaging TechnologyInversa TechnologyKnowChargeSmartSkin Technology And many more…UNB’s Office of Research Services helps promote and facilitate partnerships between UNB and other research organizations and handle the transfer of knowledge and technology to industry and other users, while maintaining high ethical standards and financial accountability in research.For this we would like to acknowledge all the hard work accomplished by Dr Greg Kealey and his team as an economic development leader in our community.
The Economic Landscape in the Greater Fredericton Region Long Term Sustainable Investment Enterprise Fredericton Community Advisory Forum June 21, 2011
Enterprise Fredericton Economic Development CHAMPION UNB - Office of Research Services
Population Growth Community Based Advisory Board Business Accelerator Center Strategic Partnership Model Business Competitiveness Initiatives Investment Client Site Visit “Tiger Teams” InvestFredericton.com Targeted Investment Strategy Win/Lose Report Card Workforce & Skills Development Strategy Retention Strategy Repatriation Strategy Immigration Strategy Online Résumé & Job Posting Tool Knowledge Park Community Outreach Business Counselling Skills Development Youth Entrepreneurship Commercialization Acceleration Priority Sector Competitiveness
Enterprise Fredericton is… Your community economic development agency focused on strengthening the greater Fredericton region by supporting business growth initiatives, training and skills development, community capacity building, population growth initiatives and foreign investment strategies & activities. (2010 – 11 info shown below) 9 full-time; 3 part-time staff. Hosted 84 local events - 3,326 business people attended. 811 business counseling sessions - 293 business opportunities. YEDI Programs engaged 2,555 potential entrepreneurs. 182 Government Program projects investing $ 22,195,897 KITF Golf participants donated $9,500 to a local charity 563 new landed immigrants in 2010
Population Growth in Greater Fredericton Region Total = 8,600 Additional People Age 15 +
Workforce Growth in the Greater Fredericton Region Total = 12,400 New Entrants into the Workforce
Employment Growth in the Greater Fredericton Region Total = 12,400 New Jobs Created in GFR
Employment Base of Rural Areas on the Decline Labour force (thousands) * Halifax, St. John’s, Charlottetown, Moncton, Saint John, Fredericton Source: Statistics Canada, APEC
Employment in Atlantic Cities Matches or Exceeds National Pace Employment Growth by Economic Region, 2005-2010 (%) Fredericton = 11.3% Atlantic Canada = 2.7% Canada = 5.7% Source: Statistics Canada/APEC
Average Household Income - Greater Fredericton Region Source: FT Markets Survey In 2002, Fredericton was 2% below the national average. In 2011, Fredericton is now 7% below & the gap is widening.
Average Per Capita Income - Greater Fredericton Region Source: FT Markets Survey In 2002, Fredericton was 1% above the national average. In 2011, Fredericton is 3% below.
New Development $$$ in the City of Fredericton Residential and Commercial Construction Numbers ($ Millions) Total = $1.136 Billion in New Development Source: City of Fredericton
New Permanent Landed Immigrants in the GFR Enterprise Fredericton initiated the PNP In-trust account Source: Citizenship and Immigration Canada Total = 3,878 New Permanent Landed Immigrants in GFR
Net New Registered Businesses in the GFR Source: Royal Gazette 2000-2010 Total = 6,530 new net businesses created
Tax Base Increases in the Greater Fredericton Region Total Tax Base in the GFR ($Millions) Source: GNB 2010 Total = $6.795 Billion Tax Base in the GFR
Our Knowledge Park Source: InPro, Stats Canada Enterprise Fredericton is the sole shareholder of the Knowledge Park Inc. In September 2011, at full capacity and with 5 buildings at 180,000 sq/ft, KP will have an annual impact of……. see chart above.
Population Growth Strategy Components… Internationalization competencies and resources Multicultural awareness and education Immigrant identification, selection and recruitment Immigration welcoming and orientation Immigrant settlement and integration Business / employment resources Immigration / internationalization branding and marketing Immigration / internationalization strategic management and research Stakeholder-partner engagement
Business Retention & Expansion (BR&E) Strategy One-on-one business counseling session Encouraging the entrepreneurial spirit with youth and adults SEED Loan distribution for start-up businesses Business education and training Provide assistance with companies looking to relocate, expand or close Client outreach initiatives Coordination and collaboration with stakeholders
Investment Attraction Strategy Industry focused strategy – Defence Industries Targeted sectors – ICT, Aerospace, Defence, Bio Sciences, R&D, etc. Commercial real estate site promotion Supporting networks & organizations (NBADA, TTNB, etc.) Assisting with investment requests (site location & planning) Some of our Community’s successes…
Looking Forward… Population Growth & Workforce Development - Youth Engagement - Retention, Repatriation, Immigration - Immigration Coordinator Position - University & College Enrolments Focused Investment Attraction Strategy - Community & Business Engagement and Awareness - Facilitate and Align Resources and Opportunities - Business Directory, Capabilities & Company Profiles Business Retention and Expansion - Productivity and Competitiveness Initiatives - Economic Gardening – High Growth Potential Companies - BR&E – business outreach site visits Innovation & Commercialization - CEALT - Innovation Support (Winning Ways, etc.) - Business Accelerator Centre - Knowledge Park Inc.
2011-12 Enterprise Fredericton Board Initiatives Community Growth Strategy engage community in review and updating Board Governance Review review and update By-laws, corporate governance handbook, committees, policies, etc.
Your Enterprise Fredericton Board of Directors Susanne Alexander, Chair Goose Lane Editions Allison McCarthy, Vice-Chair Stewart McKelvey Kevin Kilbride, Past-ChairThermaRay John Argall, Secretary / TreasurerBioAtlantech Mark Wies Communications NB Bob Skillen University of New Brunswick Gerald Pelkey ACER Environmental Services Ltd. Heather-Anne MacLean NB Power Annette ComeauLearnSphere Al Carson Ambir Trevor Cookson Accreon Mike Oliver Atlantic Hydrogen Alex Scholten Convenience Stores Association of Canada Dan Keenan Zone 3, Horizon Health Network Paul Leger
An now we would like your input… What do you see as opportunities for economic growth in the Greater Fredericton Region? What do you see as challenges to economic growth in the Greater Fredericton Region? Please offer any advice or suggestions that would make our community an even better place for retaining and attracting business.