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Executives' Perceptions of Canada's Business Climate

Executives' Perceptions of Canada's Business Climate






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Executives' Perceptions of Canada's Business Climate Executives' Perceptions of Canada's Business Climate Presentation Transcript

  • A View from the Lower 48… EXECUTIVES’ PERCEPTIONS OF CANADA’S BUSINESS CLIMATE September 23, 2013 Andrew Levine, President/Chief Creative Officer & Erin Bodine, Account Director, DCI
  • About DCI DCI About 1. The Leader in Marketing Places: Served 400+ cities, states, provinces, regions and countries since 1960. 2. In-depth Knowledge of Canadian Landscape: Recent/current clients include Calgary, Winnipeg, Saskatchewan, Toronto and Montreal. 3. Broad Range of Economic Development Marketing Services: Media relations, lead generation, digital/social media, talent attraction and research.
  • Winning Strategies in Economic Development Marketing Sixth Edition of Survey in 2011 (previous studies in ‘96, ‘99, ‘02, ‘05, ‘08) Survey Audience: U.S. 1. Corporate executives with site selection responsibilities 2. Location advisors
  • Methodology • Online survey with 10 questions conducted in August, 2013 • Sent to 621 SSCs, corporate executives in U.S. • 105 responses received for response rate of 17% • Even split of responses (54 executives, 51 SSCs) • Respondents offered $10 Starbucks/iTunes gift card
  • Geographic Distribution of Respondents
  • Can you guess what the respondents said?* What are the first 3 words or phrases that come to mind when you think of Canada? 1. _______________________ 2. _______________________ 3. _______________________ * Whoever gets closest wins $25 gift card to Tim Hortons for a double-double
  • List of Top 10 Words/Phrases 1. 2. 3. 4. 5. Cold Hockey High quality workforce Natural resources Friendly 6. 7. 8. 9. 10. Socialized Medicine Expensive Clean Diverse French
  • Top 3 Words or Phrases
  • “Please describe your perception of Canada's advantages (or value proposition) for U.S. companies looking to relocate or expand?”
  • Sample Responses for Canada’s Value Proposition for Businesses “Western Canada (British Columbia) is an Asian gateway.” “Businessfriendly, R&D tax advantages, reasonabl y priced real estate.” “Very strong base for educated technical employees.” “Canada has always maintained a neutral stance on most political and economic issues.” “Good access to many US major markets.” “Ability to recruit overseas talent without red tape of U.S. Immigration Policy.” “Well educated labor force and a good business climate.” “Proximity to oil and gas.” “Tax reform has made Canada much more competitive for North American projects.” “No health care cost to employer.” “Cost –competitiveness”
  • Top 5 Themes of Value Proposition 1. Stable, neutral and business-friendly government 2. Well-educated and quality workforce 3. Potential for lower business costs (labor, taxes) 4. Access to new markets 5. 15% of respondents indicated “none or don’t know”
  • “Have you considered Canada for a project in the last two years, or are you currently considering Canada for an upcoming project?”
  • Executives Regularly Consider Canada for Projects Overall, a majority of decision makers (53.3%) had considered Canada for a project in the last two years or were currently considering Canada Site Selection Consultants Corporate Executives
  • Ontario Leads Overwhelmingly for Project Location Consideration
  • Types of Projects for which Canada is Most Often Considered
  • “From your perspective, has Canada's business climate improved, declined or stayed the same in the past five years?”
  • Decision Makers Believe Business Climate has Improved Most executives surveyed believe Canada’s business climate has improved in the past five years.
  • “Let's compare Canada and the United States. For each of the following factors, which country has a more favorable business environment.”
  • Canada Compared to United States 100.0% 80.0% United States More Favorable 60.0% 40.0% Canada More Favorable 20.0% 0.0%
  • “Please rate the business climates of the following Canadian provinces on a scale of 1 (Poor) to 5 (Excellent).”
  • Ontario Leads Pack for Favorable Perception of Its Business Climate
  • High Number of “No Opinion” Responses Among Provinces
  • Toronto Edges Out Other Cities for Best Business Climate
  • High Number of “No Opinion” Responses Among Cities
  • “What are the top three marketing tactics Canadian cities/regions should use to promote their business advantages to corporate executives?”
  • Face-to-Face Reigns as Best Marketing Tactic
  • Marketing Preferences Vary Among SSCs and Executives Top 5 Tactics for SSCs Top 5 Tactics for Executives 1. 2. 3. 4. 5. 1. 2. 3. 4. 5. Familiarization Tours One-on-one Meetings Special Events Internet/Website Media Relations/Publicity Trade Shows/Conferences Media Relations/Publicity Internet/Website One-on-one Meetings Special Events
  • “In your opinion, which of these economic development organizations market their region effectively to corporate executives and location advisors?”
  • Site Selection Consultants Consider the Country’s Best EDOs 100.0% 80.0% 55.8% 60.0% 40.0% 32.7% 30.8% 28.8% 26.9% 25.0% 21.2% 20.0% 0.0% Invest Toronto Development Winnipeg Economic Vancouver Economic Commission Calgary Economic Development Partnership Triangle (Waterloo Reg Montreal International Greater Halifax Technology Canada's
  • 5 Key Findings
  • 1. Executives Associate Canada with a “High Quality Workforce” • Among top words or phrases associated with Canada • Common theme for Canada’s perceived value proposition • Key asset as talent increasingly drives location decisions
  • 2. Canada Regularly Considered as a Project Location But… • Ontario overwhelmingly leads the consideration set (80.4%) • Followed by British Colombia (30.4%), Quebec (28.6%) and Alberta (19.6%) • All other provinces at 5% or less
  • 3. Much of Canada is a “Blank Slate” to U.S. Executives • Ontario/Toronto are well known • Quebec/Montreal and British Colombia/ Vancouver have mid-level recognition • For the remainder of regions/cities, a large number of executives had “no opinion” of individual business climates
  • 4. Perceptions of Canada’s Business Climate Improving • 44.8% of the respondents perceive an improvement in the country’s business climate vs. 6.7% that saw a decline
  • 5. Different Marketing Tactics to Reach Different Audiences • Best tactics for reaching corporate executives: 1) trade shows/conferences, 2) media relations/ publicity, 3) internet/website • Site selection consultants are best reached via: 1) familiarization tours, 2) one-on-one meetings, 3) special events
  • Questions… Comments… Discussion…
  • Thank You!