Sault Ste. Marie Economic Development Corporation · 4 Sault Ste. Marie Economic Development...

ANNUAL REPORT 2011 | SAULT STE. MARIE ECONOMIC DEVELOPMENT CORPORATION I

Sault Ste. Marie Economic Development Corporation

Strategic Plan Update 2012-2015

CONTENTS

I Introduction 5

II Setting the Stage 5

III Defining Economic Development 12

IV Performance and Leadership Culture 15

V Mandate 16

VI Mission Statement 16

VII Vision 2020 16

VIII Guiding Principles 18

IX Corporate Goals & Strategies 18

X Strategic Priority Projects 21

XI Programs and Services 30

XII Key Performance Indicators 31

XIII Conclusion 31

Appendix A 32

Sault Ste. Marie Economic Development CorporationStrategic Plan Update 2012-2015

4


Note to ReaderThe purpose of this document is to present the Sault Ste. Marie Economic Development Corporation (SSMEDC) realigned strategic plan for 2012-2015. It provides a framework upon which corporate business plans may be developed for the period of time noted. The strategic plan is not intended to provide details on specific projects or initiatives. Rather, it provides the background and sets the focus, tone, priorities and direction for the organization. Please refer to the corporate business plans and project plans for specific initiatives to better understand the actions or initiatives designed to address each strategy.

The reason for undertaking the realignment now is due to:

• Anticipated changes in the Sault Ste. Marie economy as a result of global economic uncertainty and a sustained period of low North American growth;

• Limitations in the role of the Federal and Provincial government in providing financial resources for economic development as they address their budget deficits (e.g. Drummond Report recommendations);

• Refocus the strategy to having less focus on job creation and more emphasis on private sector productivity growth and local wealth generation as a more sustainable approach to employment and quality jobs;

• An increased strategic emphasis on investment attraction, export and trade development as a means to generate wealth in the community; and,

• An emphasis on assessing and refocusing the Corporation’s human resource capacity to ensure that it can most effectively deliver the current strategic plan, proposed realignment and new priorities with the resources available to it.

Please note that this strategy is subject to available funds, some of which come from sources outside the purview of the SSMEDC and City of Sault Ste. Marie.


5

IntroductionIn 2009, the Sault Ste. Marie Economic Development Corporation (SSMEDC) developed a four year strategic plan for 2010-2013. This document is the Corporation’s updated and realigned strategic plan for 2012-2015, which incorporates new and additional information and from a range of sources, including government policies and industry research, combined with best practices of the economic development efforts from other regions and communities. The purpose for the updated plan is to institute an “evergreen” approach to the strategic planning process. Each year, as part of the business planning process, the strategic plan will be reviewed by staff in order to determine whether the strategic goals and priorities identified by the Corporation continue to be relevant and appropriate. A staff recommendation will then be made to the Board on any future proposed changes.

This document reviews, assesses and – where necessary – updates and balances key elements of the SSMEDC strategic plan taking into consideration:

• Emerging business and economic development opportunities; • An increasingly sector-based approach to economic development;• A broader community-based approach to marketing and promoting

the city’s attributes on a targeted sectoral basis; • Changes in Federal and Provincial policy and programs (e.g. the recently

released Growth Plan for Northern Ontario, realigned FedNor programming and the Drummond Report);

• Current trends, economic realities and forecasts.

It also takes into consideration that many of the initiatives that support the implementation of the strategy are predicated on funding from other Federal and Provincial sources, which may not be as readily available and accessible as they have been in the past. Notwithstanding this limitation the Corporation will endeavour to move forward on the strategy to the extent possible and practical.

Setting the Stage

BACKGROUNDIn the four-year period from 2008 to 2011, the economy in Sault Ste. Marie continued to move in a positive direction despite the economic turmoil worldwide. This remarkable success was reflected by:

• Relatively low unemployment rates• Business bankruptcies below Provincial average• Growing tax base

I

II

6


• Stable population • Record-setting real estate sales• Annual increases in the value of building permits issued

In April 2011, the Canadian Federation of Independent Business (CFIB) ranked Sault Ste. Marie as the 2nd most “friendly (city) to entrepreneurs” in its 2010 research report entitled, Communities in Boom: Canada's Top Entrepreneurial Cities. The report looked at 12 indicators, including net business start-ups, self-employment intensity and future business performance. Not only was the city ranked number two in the province behind the Greater Toronto Area, it also had the highest results for Northern Ontario. Sault Ste. Marie also moved up nearly 20 places, from 61st to 40th in the country, since the previous CFIB Canadian entrepreneurial city study.

INVESTMENT AND GROWTH

During this period, over $1 billion in investment was committed to the Sault area. This success is attributable in part to the focused efforts of the Sault Ste. Marie Economic Development Corporation and funding received from a range of Provincial and Federal sources.

A number of reports on Sault Ste. Marie’s economic progress have been produced illustrating the community’s positive performance in the past number of years. A report entitled, Indicators of Success – Destiny Sault Ste. Marie’s 2009 Progress Report showed economic progress and growth in the community despite the challenging economic environment. However, U.S. trade and tourism statistics for visits continue to remain low as a result of an ongoing “perfect storm” of more stringent security requirements at border crossings, a high Canadian dollar, protracted economic downturn in the U.S. and an ongoing “Buy American” sentiment.

Sault Ste. Marie managed to hold its own as a result of inward investment. Construction values and building permits have been positively skewed due to significant Federal and Provincial stimulus and infrastructure investments, and this skewed value will continue into 2012. The community is an emerging leader in alternative energy. New businesses and wind turbine and solar power projects appear to have created an opportunity for future growth in this clean-tech sector.

GLOBAL ECONOMIC ENVIRONMENT

Unfortunately, the risks to global growth have continued to increase in 2011 in response to intensifying economic and fiscal problems in Europe and the United States. The risk of further economic setbacks has increased because of low consumer and investor confidence, and the likelihood of increasing caution in many


7

economies. Recurring bouts of uncertainty, financial market volatility and risk aversion are likely to persist – with negative implications for global growth – until there is some resolution to the public sector debt that is engulfing Europe and the United States. Ongoing problems with the economies of Portugal, Ireland, Italy, Greece and Spain in Europe, along with the large public debt and the housing/mortgage markets in the United States, will need to be addressed to provide the necessary support for recovery. As of September 2011, economists lowered their forecasts for Europe, the United States and Canada. While Canada may consider another economic stimulus program, it is expected that both the Federal and Provincial governments will be undertaking measures to substantially reduce expenditures in several areas, including economic development program funding in response to both reduced revenues and increasing deficits.

The SSMEDC response to this situation is to enhance its efforts to carry out its mission and mandate. During this economic business downturn, the SSMEDC will be working with local business and senior levels of government to find new markets, increase market penetration, improve productivity, and to reduce operating costs, thereby increasing local business competitiveness. In addition, the Corporation will continue its efforts in business retention and expansion of local enterprises. The SSMEDC has carefully considered its key strategic goals and priorities with these considerations in mind.

DRUMMOND COMMISSION The Commission on the Reform of Ontario’s Public Services (Drummond Commission) findings, released on February 15, 2012, outlines 362 recommendations in its 665 page two volume report. In 2010-11, the latest full fiscal year, the Government of Ontario ran a deficit of $14 billion. If the Status Quo continues, the Drummond Commission indicates that the Government of Ontario’s deficit could balloon to $30.2 billion by 2017-18.

Drummond warns that failing to follow the austerity measures outlined by the Commission could cause the Government of Ontario’s net debt, which totalled $214.5 billion in 2010-11, to balloon to a net debt totalling $411.4 billion by 2017-18. The Government of Ontario has indicated that they will take the Drummond Commission’s recommendations into account moving forward but will make the final decision on what recommendations are implemented from the Commission.

However, it is reasonable to expect that other forces may impact on the Government of Ontario’s decisions. For example, the Drummond Commission report states that “This very question was thrown into sharp relief on Dec. 15, 2011, when Moody’s Investors Service revised its outlook on Ontario’s bonds from stable to negative. The revision affected some $190 billion in bonds that are rated Aa1, the agency’s second highest rating. Moody’s said in its statement

8


that the change in outlook “reflects Moody’s assessment of risks surrounding the province’s ability to meet its medium targets given the recent slowdown in Provincial economic growth and the resulting risks to the province’s ability to stabilize the recent accumulation of debt.” Moody’s lead analyst for Ontario, assistant vice-president Jennifer Wong, said, “The negative outlook on the province reflects the softening economic outlook, Ontario’s growing debt burden, and the extended timeframe of achieving a balanced budget.”

Chapter 11 of the Drummond report, entitled “Business Support” speaks to a range of issues directly relevant to SSMEDC’s role in business development. One important consideration that the report emphasizes is focusing on productivity, i.e. increasing the efficiency of production as a critical issue that government needs to encourage through its policies and programs. The report states:

“Despite this importance, governments fear the word ‘productivity’ because of public misunderstanding of its meaning. Polls and focus groups tend to find that many Canadians believe productivity means working harder for less pay — the opposite of an economist’s definition.”

The Commission’s report goes on to recommend a:

“ . . . shift from an emphasis on job creation towards encouraging firms to enhance productivity through innovation; technology adoption and training; improved business practices; and energy conservation and efficiency. It also means encouraging entrepreneurship. Innovative new firms can increase productivity directly, as well as drive incumbent firms to become more productive in order to compete. Research performed in universities, colleges and hospitals is an especially fertile field for harvesting commercial opportunities by entrepreneurs and risk capitalists.

The impetus for improving productivity is clear. As noted in Chapter 1, it will be difficult to achieve Ontario’s deficit target by 2017–18 with a continuation of the weak productivity growth seen in the private sector in recent years. Business support programs that promote improved productivity growth will therefore play an important part in ensuring Ontario’s fiscal viability. Improving private-sector productivity allows businesses to successfully compete in domestic and global markets and create jobs. Governments do not create jobs in the private sector — only successful businesses can do that. Rather than the traditional focus on job creation as an end in itself, government should focus its business support on those areas with the greatest potential to improve productivity. New programs must clearly demonstrate that they are aligned with this objective.


9

The productivity lens should also be applied when using subsidies to attract foreign business investment to Ontario. Some flexibility will be needed, as there may be opportunities where government support can attract a substantial anchor investment to the province. Such action, however, should be reserved for exceptional or extraordinary cases. In the global context, especially as developing economies ramp up their business investments, Ontario must collaborate nationally and build international bridges to be competitive. Efforts should continue to strategically target international investment based on the province’s potential to improve productivity.”

It is clear that certain recommendations brought forward by the Drummond Commission could significantly impact Sault Ste. Marie and the Corporation’s ability to effectively implement this Strategic Plan. The reality is that the Corporation relies on a number of Provincial government funding programs to enable the community to implement economic development initiatives. In addition, some of the Drummond Commission’s recommendations may dampen the community’s ability to retain business and private sector growth. However, the report also provides solid direction for the Corporation in terms of where it should place its priorities and focus with respect to investment and business development.

GROWTH PLAN FOR NORTHERN ONTARIOThe Growth Plan for Northern Ontario is a strategic framework that will guide decision-making and investment planning in Northern Ontario over the next 25 years and has been prepared under the Places to Grow Act, 2005. The Act sets out the following purposes:

• to enable decisions about growth to be made in ways that sustain a robust economy, build strong communities and promote a healthy environment and a culture of conservation;

• to promote a rational and balanced approach to decisions about growth that builds on community priorities, strengths and opportunities and makes efficient use of infrastructure;

• to enable planning for growth in a manner that reflects a broad geographical perspective and is integrated across natural and municipal boundaries;

• to ensure that a long-term vision and long-term goals guide decision-making about growth and provide for the co-ordination of growth policies among all levels of government.

10


The following provides a brief overview of the policy direction described in this plan. The Growth Plan states that it contains policies to guide decision-making about growth that promote economic prosperity, sound environmental stewardship, and strong, sustainable communities that offer northerners a high quality of life. It also recognizes that a holistic approach is needed to plan for growth in Northern Ontario. A skilled and healthy population, modern and efficient infrastructure, and well-planned communities are critical to achieving long-term global competitiveness.

The Plan also states that it reflects a shared vision between Northerners and the Government of Ontario that engages and empowers residents, businesses, institutions and communities to work together to build a stronger Northern Ontario. It takes a broad geographic perspective to support co-ordinated decision-making that respects the diverse needs of rural, urban, remote and Aboriginal communities. The Plan recognizes that to achieve these long-term goals, strategic co-ordination, partnerships and collaboration are essential. This Plan is intended to complement other Provincial and regional initiatives that also contribute to the long-term sustainability and prosperity of Northern Ontario.

This Plan is structured around six theme areas: economy, people, communities, infrastructure, environment and Aboriginal peoples. Within each theme, this Plan identifies a series of policies to achieve its vision.

GROWTH PLAN IMPLICATIONS FOR SAULT STE. MARIE

When the Growth Plan was unveiled in March 2011, the Minister of Northern Development, Mines and Forestry announced a series of initiatives, including the establishment of a Northern Policy Institute, a multi-modal transportation strategy and proposed two pilot regional planning areas for Thunder Bay and the Northwest as well as Sudbury (Note: the Sudbury pilot area has changed to reflect a conceptual pan-Northeastern model). All three elements are currently under development and represent the first step in the implementation of the Growth Plan. At this stage, it is not clear what the full implications may be for Sault Ste. Marie.

The SSMEDC has taken the position that it is important to be engaged in the process insofar as to ensure that the community and Corporation are well-positioned to take advantage of relevant opportunities that the planning process might present. The Corporation is assessing on an ongoing basis the extent to which this plan will directly impact its mandate, mission and strategic goals. At this stage the full implications of implementation are unclear. The SSMEDC will continue to work with the City and the Growth Plan’s Northern Advisory Committee members to closely monitor the development of the plan and work with them to be well-positioned as the planning process unfolds.


11

OTHER CONSIDERATIONS

DESTINY SAULT STE. MARIE

Established in 2003, Destiny Sault Ste. Marie is the community’s economic diversification coordinating committee that brings together a number of major economic development organizations into one organized committee to help develop some of the key strategies for Sault Ste. Marie’s economic diversification, to ensure partners are taking the lead to implement the various priority projects and to monitor/report on the implementation.

The 2012-2015 Strategic Plan complements the Sault Ste. Marie Economic Development Strategic Plan, prepared by the Destiny Sault Ste. Marie Steering Committee. This plan addresses Destiny Sault Ste. Marie’s priorities in order for the SSMEDC to “make a difference in Sault Ste. Marie’s economic diversification” on its assigned responsibilities.

The SSMEDC will take action on leading, supporting and/or monitoring the various Destiny Sault Ste. Marie Strategies that are consistent with its mandate, mission and goals. The SSMEDC also has responsibility for the administration of this community partnership. Partners that lead Destiny Sault Ste. Marie are:

• City of Sault Ste. Marie (Planning Director)• Community Development Corporation of SSM & Area (Executive Director)• Sault Ste. Marie Chamber of Commerce (First Vice-President)• Sault Ste. Marie Innovation Centre (Executive Director)• Sault Ste. Marie Economic Development Corporation (CEO and Board

Member)• Citizen Volunteer (Chair of Destiny SSM)

The SSMEDC will be encouraging members of the Coordinating Committee to consider the future of Destiny and what role it might be able to play in terms of supporting regional economic development planning and the Growth Plan for Northern Ontario. The SSMEDC will continue to support this initiative on the basis that it is relevant to the Corporation's priorities and has tangible benefits for the economic development of the community and area.

BUILDING REGIONAL ECONOMIC DEVELOPMENT NETWORKS

For some time, the Provincial and Federal governments have been advocating a greater level of economic development coordination and cooperation between communities in areas throughout the Northern Ontario region. Over the course of the next four years, the SSMEDC plans to assess and determine if there are opportunities to work together, provided that these efforts produce tangible economic benefits for Sault Ste. Marie, consistent with the Corporation’s

12


mandate, mission and goals. These external relationships will need to be carefully considered to ensure that they do not place undue burden on the Corporation, its resources and staff. Participation by the Corporation in area and regional projects will be contingent upon adequate resources being in place to support the undertaking and an SSMEDC determination that the initiative will produce direct benefits to this community.

Defining Economic Development Economic Development is the process of creating and sustaining wealth (increasing incomes). We know that it is occurring when:

• Wealth is being retained and/or created in the community;• Both public and private sector organizations in the community are

successfully undertaking continuous productivity improvements to increase or maintain their competitiveness and efficiency;

• Quality jobs* are being created and retained in the community as opportunities arise;

• Local tax base growth is keeping pace or exceeding the mounting cost of government services;

• A “real” increase in the level of average household income is occurring;• The local standard of living is improving;• The local quality of life continues to improve;• The “equity” of income distribution is improving.

* Please refer to the “Jobs Challenge” section, which follows.

Creating and sustaining wealth is the generation and retention of increased income (greater than what it was before). The increase in local income is derived primarily from:

• Community-based companies that produce goods and provide services that are sold outside the community, thereby bringing in income from external sources;

• Investments from local and external sources being made in the community, including: the creation of new businesses; expansions of local businesses; productivity improvements; and, infrastructure development;

• Tourist revenues that bring money into the community;• “Active” retirees who spend money locally that was earned elsewhere;• Reducing the “leakage” of investments and purchases made outside the

community,• Students who come into the community from outside the region for their

education.

III


13

The Economic Development process is facilitated through:

• Improvements to the operating environment of business;• The provision of information, advice and consultation and referrals to

enable individuals and organizations to achieve their business development objectives;

• Investment in the commercial, industrial, research and education infrastructure;

• The ability to attract highly qualified people;• Development and maintenance of a skilled workforce that meets the needs

of business and industry;• Promotion and marketing of the community and region as a place to invest,

visit and as a place of commerce; • An adequate supply of readily available, appropriately zoned and

marketable land and buildings to be used for commercial and industrial development purposes;

• Environmentally sustainable practices;• The maintenance and enhancement of the local quality of life;• The establishment and maintenance of NGOs, government and businesses

focused on advancing the interests of Sault Ste. Marie's economic development.

THE JOBS CHALLENGEThe SSMEDC is operating in a changing economic development paradigm. As a recent International Economic Development Council paper on jobs and economic development indicates: while job creation remains a traditional key measure of success for economic development efforts, the time in which all jobs were 'good jobs' is to a certain extent, over. Growth in the economy is becoming increasingly divided between high-tech, high wage jobs on the one hand and low-wage jobs in the service sector on the other. Many "middle-class", medium-wage jobs have been downsized, automated or have gone offshore. Economic development organizations and communities are challenged to support job creation that delivers the kind of wages and benefits that were the standard of an industrial economy. Economic developers must examine the types of jobs being created and how well they meet the needs of individuals and communities in a globalized, skills-based economy. In this context, the success of individuals equals the success of business and communities. 'Quality jobs' are characterized by:

• Quality workforce and welfare: Quality jobs benefit people, companies and places. They are the seeds from which broader prosperity grows, providing workers the opportunity for self-sufficiency, economic security and a sense of control over their lives. They allow individuals to raise their standards of living and accumulate assets.

14


• Increased business competitiveness: The Sault Ste. Marie Economic Development Corporation has a “high road” economic development strategy. In other words, it is looking for business and industry to compete based on the quality of its products, services and ability to innovate. Profits and competitiveness stemmed from increasing productivity, which can be improved in two ways: technology and labour. Innovative and competitive companies tend to provide the highest quality jobs. A quality job is likely to attract a more valuable employee, whose job tenure is longer and who has an increased sense of loyalty and skills that can make a company more competitive and productive.

• A sustainable growing economy: Quality jobs benefit the local economy. Per the definition of a quality job, workers are paid higher wages which they then spend on housing, goods and services. These wages cycle through the economy in the form of increased tax revenues from sales, property and personal income.

BALANCING WEALTH CREATION AND JOB GROWTH

The challenge for Sault Ste. Marie and the SSMEDC is to support wealth creation through the retention and growth of local businesses and the inward investment that creates and retains quality jobs in the community. The Corporation’s “high-road” economic development strategy is designed with this goal in mind and depicted in the diagram that follows.

Wealth Generation in Relation to Quality Jobs: (finding the sweet spot)

LOW HIGH

LOW HIGH

LOW

HIG

HLO

WH

IGH

# of Quality Jobs

We

alth

Ge

ne

rati

on


15

Performance and Leadership CultureIn March 2008, millierdickinsonblais, a leading national economic development consulting firm, undertook a third-party review of the Sault Ste. Marie Economic Development Corporation. The intent of the initiative was to ensure:

• The City was receiving value for the money and was levering economic development opportunities;

• The Corporation was providing a necessary service to the City;• Performance measures were identified; and,• There was no duplication of service, internally and externally.

The consultant’s final report concluded that the SSMEDC was providing value for money to the City; levering economic development opportunities; providing a necessary service; and was not duplicating services internally or externally. In fact, the consultants concluded that there was positive return on the City’s investment in the Corporation, and this should be seen as an indicator of strong performance. These performance indicators showed investment growth, increased tax base and jobs creation and that client satisfaction was high over the measurements periods. The consultant also provided recommendations on being a higher performing economic development organization, which have been acted on by the SSMEDC.

This year, the International Economic Development Council (IEDC) released research entitled, High-Performing Economic Development Corporations. (Annex A) The study was undertaken by Economic Development Research Partners and used the research and expertise developed through the IEDC accredited Economic Development Organization Program (AEDO). The study identified success factors of high-performing economic development organizations (EDOs) and the leadership skill set required to improve performance and ensure the long-term success for the organization and community.

The SSMEDC staff have used the release of this research as an opportunity to undertake an internal review of the Corporation in terms of its performance and leadership culture characteristics. In summary, the results of their review, which included an independent third-party assessment, was the strong determination that Sault Ste. Marie Economic Development Corporation is a high-performing economic development organization. It has a dominant creative leadership culture and enthusiastic staff, who are keen to see the organization develop and grow, appreciate the value of strategic planning, want to be engaged in it, take on new challenges and take full advantage of the Corporation’s leadership potential.

IV

16


Mandate The Sault Ste. Marie Economic Development Corporation is a not-for-profit Corporation, funded by public and private partners. It is the City’s lead agency on economic development providing strategic advice, policy, implementation of projects, Economic Development Fund recommendations, pertaining to economic development (which is inclusive of tourism) and private sector relations1.

1Source: Memorandum of Understanding between the City of Sault Ste. Marie (City) and the Sault Ste. Marie Economic Development Corporation (SSMEDC) for Accountability 2009

Mission Statement The Corporation’s mission is to support the sustainable growth and the further development of a diversified community economy through activities and undertakings, which facilitate:

• The creation and retention of wealth in the community;• Increasing productivity and global competitiveness;• Inward investment and trade; and,• The marketing and promotion of local business development and tourism;

thereby achieving the Corporate vision.

Vision 2020By 2020, Sault Ste. Marie will be recognized as a leading community having an increasingly diverse, sustainable and globally competitive economy supported by the energy, manufacturing, innovation, research, small business and tourism sectors.

V

VI

VII

“Our community, City Council and other partners recognize and value the corporation as their source for leadership and support in shap-ing and creating a competitive, sustainable and thriving economy for Sault Ste. Marie.”


17

In support of our vision, the SSMEDC will be a community oriented, customer driven, strategic and results based organization that values its employees as a team and is characterized by2:

• Earning the trust and respect of its community and partners; • Building strong alliances and networks;• Investing in its people and relationships; creative risk-taking balanced

by fiscal prudence; and,• Leadership focused on effective communication, innovation, ethics and

the willingness to embrace change.

2 Please refer to Appendix A for further elaboration of the success factors which support the Corporate Vision

BUILDING A NEW, SHARED COMMUNITY VISIONVision 2020 combines both a vision for the organization and vision for the community. Over the period of this strategic plan, the SSMEDC will encourage all community constituencies to increasingly value, build upon, market and promote its inherent attributes and competitive strengths, both within and outside the community. By 2020, Sault Ste. Marie will be internationally recognized as a progressive, growing and very livable city.

Sault Ste. Marie is a “Naturally Gifted - Extraordinary Community” situated in a naturally gifted, extraordinary region. While continuing to build on its strengths and attributes, the community collectively needs to more assertively market itself outside of the region, province and country.

Someone once said: “you can't sell from an empty cart … and you can't sell from a cart that's covered”. This statement was made in reference to the development of an industrial marketing strategy for Sault Ste. Marie. Marketing, branding and promoting Sault Ste. Marie is something that each of us has a role to play. It needs to be based on fact, good information and the strategic efforts of all stakeholders in the community sharing a common approach and goal. Together, the SSMEDC can make sure the cart is full and available for all to see.

In simple terms, this vision seeks to enable the community to have a cart that is full and consists of a thriving, sustainable, competitive business environment in the community and is recognized as having such across Ontario, Canada and internationally.

18


Guiding Principles The SSMEDC’s guiding principles for its operations and activities focus on: leadership and collaboration; fostering a competitive business environment; maintaining a high quality of life in the community; demonstrating integrity and trust; encouraging people and building strong working relationships; and, facilitating sustainable economic growth and development.

People Focused – Build strong working relationships and provide a high standard of client service by delivering results within a warm and friendly operational culture.

Leadership and Collaboration – By example, provide leadership in economic development through collaboration with key economic development stakeholders and employing best practices through all facets of the organization’s roles and responsibilities.

Competitive Business Environment – Grow and develop the community’s industrial and business sectors by supporting existing business; attracting and developing new business opportunities; and, addressing impediments to business growth and global competitiveness.

Quality of Life – Maintain a quality of life that attracts and retains highly qualified and skilled employees to support economic growth.

Integrity and Trust – Interact in a way that is transparent, open and candid while respecting the confidentiality of clients, colleagues and partners.

Sustainability – Being a leader in sustainability practices, balancing social, environmental and economic considerations for the betterment of the community and its citizens.

Corporate Goals & StrategiesThe following lists the SSMEDC’s strategic goals followed by a series of supporting objectives that are directive and action oriented. These objectives will be embraced in the development of annual business plans and are subject to the availability of funding.

VIII

IX


19

COMMUNITY ECONOMIC DEVELOPMENT LEADERTo be a leader and partner in the economic development of Sault Ste. Marie and region in a manner that focuses on private sector clients that contribute to the generation of wealth (increasing local income), and increasing the community’s global competitiveness.

• To undertake strategic economic development initiatives each year that are most likely to increase or sustain Sault Ste. Marie’s global competitiveness, wealth generation capacity and quality jobs in the community.

• To be a leader in client/customer service, including undertaking a community based, client/customer service improvement initiative with relevant stakeholders.

• To increase and improve the level of knowledge, communication, understanding and efficiency of service between business proponents and the government organizations that regulate, control and determine how growth and development is permitted to occur in the community.

• To increase the awareness of services and programs available to business through all levels of government that will enable their business to develop and grow.

• To support the City in the management and administration of the Economic Development Fund (EDF) through the evaluation of project proposals, providing recommendations and advice to Council, and encouraging the development of thoughtful proposals and initiatives that will grow and diversify the City's economy.

• To be a lead partner in the City’s Economic Diversification Plan (Destiny SSM) and provide innovative direction and delivery on new economic development opportunities for Sault Ste. Marie.

• To be a recognized source and focal point for basic economic development information related to the community and region, thereby enabling the Corporation to quickly respond to development and growth opportunities related to business retention and expansion, inward investment, export, trade and tourism development.– This includes having current relevant information on the following:

industry, business and commerce activity in the community; infrastructure and supportive community, industrial and business development; availability of land, commercial and industrial buildings; community and regional demographics; as well as, business and industry sectoral analysis to enable the community to successfully focus and target investment attraction and business development efforts.

• To work with communities and organizations in the area and region, including the Algoma District as well as U.S. and Canadian communities in the Great Lakes basin to build our capacity to be more globally competitive through outreach, planning and collaborative initiatives.

20


STRATEGIC & SECTORAL GROWTH AND DEVELOPMENT To promote growth and development of Sault Ste. Marie’s strategic economic sectors by working with local and external businesses in generating wealth, creating/sustaining quality jobs and increasing their global competitiveness.

• To target its client development services on “best bets” for business development in key sectors (e.g., energy, manufacturing & assembly, science & technology, innovation, tourism, and knowledge sectors).

• To undertake external and internal promotion, marketing, business development, trade, investment attraction and international relations activities to identify and generate trade, investment and business development and economic growth opportunities for Sault Ste. Marie.

TOURISM GROWTH AND DEVELOPMENTTo develop and implement tourism strategies and initiatives that will increase the revenue from tourists and visitors coming to the community on an ongoing and sustainable basis.

• To rebuild the traditional marketplace and diversify Sault Ste. Marie's market dependencies in order to take advantage of emerging market opportunities.

• To generate more overall tourism spending.• To increase visitors’ average length of stay. • To develop value-added products with sustainable pricing.• To assist in creating more jobs in the tourism sector.• To significantly enhance the contribution of the tourism sector to Sault Ste.

Marie's economic development and diversification.• To help facilitate the growth and enhancement of Sault Ste. Marie's tourism

attractions.• To work with stakeholders in the community and region to plan and

implement a regional tourism strategy focusing on infrastructure, product development and new markets and activities.

ENTREPRENEURSHIP & SMALL BUSINESS DEVELOPMENTTo motivate, inspire and support entrepreneurship in Sault Ste. Marie and region.

• To provide “one-on-one” or “group” consultations to motivate and inspire entrepreneurs to move forward on taking the first steps to establish or grow their business.


21

• To provide self-help tools, information and access to government small business development programs and services.

• To provide and support educational workshops, seminars and events (in person and online) that will inspire and be helpful in supporting entrepreneurs to start or expand their business.

• To work with community partners and stakeholders (e.g., Chambers of Commerce, Community Development Corporations, Sault Ste. Marie Innovation Centre, MNDM, FedNor, private sector etc.) in Sault Ste. Marie and the Algoma District to ensure entrepreneurs have easy access to the various programs and services available to them.

HIGH PERFORMANCE AND BEST PRACTICES To continue to be a responsible, accountable and transparent community agency with best practices on governance, management and public relations.

• To maintain strong public relations, be accountable to the community and regularly communicate corporate results and activities to stakeholders and the citizens of Sault Ste. Marie.

• To be prudent and transparent in conducting business and managing the finances and affairs of the Corporation, ensuring fairness, respect and integrity.

• To identify and secure sources of revenue (public and private) that are consistent with the Corporation’s policy, priorities, goals and objectives, which will enable it to increase its capacity to deliver economic development programs and services in a manner that is consistent with the SSMEDC’s mission.

• To develop corporate policies and procedures that ensure good governance and proper management.

Through accountability frameworks for staff, performance and results measurements, the SSMEDC will seek to quantify and assess its efforts and progress in achieving its mission, strategic goals, and business plan targets and objectives for organizational planning and management purposes and to demonstrate value to the community.

Strategic Priority ProjectsThe SSMEDC will implement and deliver on a number of key priority projects over the next four years that will drive economic development success to meet its goals and objectives and complement other local and regional economic development

X

22


efforts. The objective of these priority projects is to increase Sault Ste. Marie’s capacity for economic development leading to wealth generation. These projects will be submitted to the Board of Directors for review and approval. Some of these projects are linked and need to be undertaken in a complementary and concurrent fashion. For example, the Local Industry Global Competitiveness Initiative requires the information and analysis developed through the community-based business service improvement program.

Business Tourism Corporate Services

Invest Sault Ste. Marie: A Local Industry Global

Competitiveness Initiative(Investment, Trade & IRB)

Annual Marketing Plan

Integrated Corporate Communications & Community

Promotion Strategy

Alternative Energy Strategy (in partnership

with the Innovation Centre)

Tourism Gateway Site

Development

Human Resources Development Strategy

Infrastructure, Land and Building Development

Initiative(in partnership with

the City)

Tourism Online Reservation

System Refinement

Community Based Business Service Improvement Initiative

Outreach, Networks, and Partnership Development (UPEDA, ONEDC, DFAIT)

Agawa Canyon Tour

Train RevitalizationProject (ongoing)

Integrated Results, Key Performance Indicators, and Accountability Framework

Small Business Incubator

Restructuring of Provincial

Tourism Regions and Associated

Financing

Strategic and Annual Business Plans

Entrepreneur’s Network

Destination Development

Plan for Northern Ontario

(inc: Product Development)

Corporate Development Strategy

(revenue generation, cost containment, accommodations,

client relations and financial management)

(As has been noted, these goals and strategies are predicated on the availability of the financial resources necessary to implement them. Not all may be achievable in the proposed timeframe due to this limitation.)


23

PRIORITY PROJECT DESCRIPTIONS

BUSINESS

INVEST SAULT STE. MARIE: A LOCAL INDUSTRY - GLOBAL

COMPETITIVENESS INITIATIVE:

The Sault Ste. Marie Economic Development Corporation proposes to undertake a substantial, incremental increase to its trade and investment attraction efforts, as well as support increased local business participation in regional, national and international supply chains, including the Federal Industrial Regional Benefits Program. In order to undertake this effort, the SSMEDC is planning to request financial support from the City’s Economic Development Fund, over a period of four years, to enable and enhance the capacity of local industry to increase their growth and wealth through investment, export development and increased participation and regional national and global supply chains. This initiative is designed to complement the Corporation’s Business Retention and Expansion Program. For example, focus in the short term will target the Ontario Lottery and Gaming Corporation's modernization strategy to ensure that Sault Ste. Marie retains employment, wealth and benefits from the implementation of this strategy by OLG.

Purpose for the Initiative:

The purpose for this funding request is to help enable Sault Ste. Marie companies to become more globally competitive by achieving the following objectives:

• Increasing private sector investment in local business ventures that support the growth, development and production of exportable goods and services in the community;

• Facilitating public and private sector investment in industrial infrastructure, thereby increasing the competitiveness of the local private sector [e.g. transportation including multi-modal, broadband, applied research and development];

• Assisting local business in increasing the volume and value of goods and services produced in the community that are exported outside of the local area;

• Increasing the participation of Sault Ste. Marie companies in regional, national and global supply chains3, particularly those supply chains that

3 A Supply Chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transfer natural resources, raw materials and components and the finished product that is delivered to the end customer. Supply chain management is the management of the network of interconnected businesses involved in the ultimate provision of product and service packages required by and customers. Supply chain management spans all movement and storage of raw materials, work in process inventory, and finished goods from point of origin to point of consumption.

24


support major procurement and initiatives of large multinationals, key economic sectors and the Government of Canada (e.g. Industrial Regional Benefits4).

This initiative will also undertake to work with the other five major centres in Northern Ontario and other interested communities to undertake the joint promotion of trade and investment in the region and will seek support from both of Federal and Provincial governments.

ALTERNATIVE ENERGY 5 STRATEGY:

In the spring of 2007, City Council, recognizing the critical mass of activity building in the sector, boldly proclaimed Sault Ste. Marie as the “Alternative Energy Capital of North America.” The stated mission of the strategy is to create the conditions to attract technologies, expertise and capital to our community that will result in an increase in related employment, economic activity, and quality of life, specifically in the field of alternative energy and efficient energy utilization.

The Sault Ste. Marie Innovation Centre (SSMIC) is the project lead on this initiative. In late February 2012, City Council accepted the Sault Ste. Marie Smart Energy Strategy, which included the following for strategic priority areas and associated activities:

• accelerated activity and conservation, energy efficiency, and heat recovery;• alternative energy and development of an intelligent regional grid (Smart

micro-grid);• creation of a community investico; and• community branding and outreach.

The Sault Ste. Marie Economic Development Corporation is working in partnership with the SSMIC to develop and implement this project.

4 Industrial Regional Benefits (IRB) – An IRB is a contractual commitment by prime contractors to place work in Canada as a result of successfully bidding a Canadian defence program (100% of contract value). A prime contractor is the corporation responsible for the provision of equipment or system procured by the Government of Canada. Canada has established a policy that requires all prime contractors to ensure that 100% of the contract value for procured items is spent in Canada. Contractors can either achieve this requirement through a direct offset e.g. purchasing a component of the procured equipment from a Canadian firm or an indirect offset – purchasing a good or service to be used in another part of their business or making a contribution for various research and development initiatives as specified by the IRB policy.

5 Definition of Alternative Energy – Alternative Energy, as defined by the SSM Alternative Energy Task Team in the context of the community’s vision, includes renewable energy generation – wind, solar, hydroelectric and geothermal – in addition to municipal solid waste (MSW) gasification, rubber tire energy recovery, and other alternative technologies that result in energy production while reducing environmental impact. Alternative energy in this context also refers to those technologies that can be developed and deployed to recover low grade or waste energy, or reduce energy consumption in residential, commercial, or industrial situations.


25

INFRASTRUCTURE, LAND AND BUILDING DEVELOPMENT

INITIATIVE

The purpose and outcome of this initiative is to have: the appropriate industrial infrastructure in place, a suitable variety of identified public and private land parcels that are available, properly zoned and serviced for immediate use; along with an identified set of industrial and commercial buildings to accommodate a range of users. The SSMEDC will work in partnership with the City of Sault Ste. Marie, private developers and investors to develop and implement the initiative over the four-year period.

This initiative will be closely linked to the other strategic projects focusing on trade and investment attraction, alternative energy and outreach, networks and partnership development. One of the selling features of the community must be the immediate availability of fully serviced, properly zoned industrial lands and buildings and supported infrastructure that enables companies to conduct business in a cost-effective, competitive fashion. Through this initiative, Sault Ste. Marie will be able to much more aggressively market and promote these properties as places to establish and grow business more competitively than other locations.

OUTREACH, NETWORKS, AND PARTNERSHIP DEVELOPMENT

INITIATIVE

There are a considerable number of organizations with a mandate to promote trade and investment in Canada and Ontario in this region. Many are public and some are private. These organizations provide a window of opportunity for businesses in the community to increase their exported trade activity as well as help attract investment to the community. While the SSMEDC is aware of the role of these organizations and, in many cases, regularly works with them, it does so on a limited basis because it lacks the resources to fully capitalize on the services and opportunities these organizations offer. Examples of the organizations referred to include:

• The Department of Foreign Affairs and International Trade:– Trade Commissioner Services and regional offices throughout the world

• Export Development Canada (EDC)– promoting export and investment in Canada

• Ministry of Economic Development and Innovation– Ontario's international marketing centres

• Canadian Manufacturers and Exporters• Economic Development Council of Ontario• Economic Development Association of Canada• International Economic Development Council (IEDC)

26


The Sault Ste. Marie Economic Development Corporation could significantly benefit from more active engagement of organizations such as these to attract new investment, expand trade and develop new strategies and approaches to making the community a more competitive and attractive place to do business. This initiative is designed to identify the programs and services of individuals who would best be able to assist the community in its strategic economic development efforts and build a strong working relationship with them.

SMALL BUSINESS INCUBATOR

This is a Strategic Priority Project originally identified by the SSMEDC Board of Directors in its Strategic Plan 2010-2013. With the difficulties experienced in the global economy by larger companies since 2008, there has been a greater emphasis in some jurisdictions on the development of a strong small business sector to sustain communities. According to the Canadian Association of Business Incubation (CABI), the average survival rate of companies in Canada that go through business incubation has been shown to be higher than 80% after five years compared to just a 36% probability of survival for non-incubated firms. Currently, Sault Ste. Marie does not have a Small Business Incubator to grow small businesses in the community other than those in the Innovation area that represents less than 10% of the overall small business sector. A Small Business Incubator Feasibility Study has been completed, and SSMEDC staff are currently working on a detailed proposal that would be used to endeavour to access funds from the EDF, FedNor, Ontario Trillium and NOHFC toward a Small Business Incubator for Sault Ste. Marie.

ENTREPRENEUR’S NETWORK

This is a Strategic Priority Project originally identified by the SSMEDC Board of Directors in its Strategic Plan 2010-2013. The objective is to establish a Sault Ste. Marie Entrepreneur Network as a forum for people to collectively learn and grow as individuals and become inspired to be entrepreneurial in their ways of thinking. From many walks of life, entrepreneurs will gather and share innovative thoughts and ideas for the pursuit of positive economic outcomes for their community at large. SSMEDC staff are currently working on a business plan for the Entrepreneur Network.

TOURISM

ANNUAL MARKETING PLAN

• Purpose: To identify tactics that will address the three main areas of the 5-Year Strategic Plan: Attractions Packaging, Meetings/Conventions/Sports and linkages to the Outdoors.


27

• Objectives: Generate increased interest in Sault Ste. Marie as a four-season tourist destination. To increase overall visitation through the sale of consumer vacation packages

TOURISM GATEWAY SITE DEVELOPMENT

• Purpose: As per the 2-year mandate provided by City Council, TSSM/SSMEDC was tasked with producing a Business Plan, for the development of the Gateway Site land parcel, which would include a destination tourist attraction;

• Objective: Identify a "best bet" mixed use development for the Gateway site that would be financially viable and sustainable and would attract increased tourist visitation to the city while also providing a downtown core destination for residents of the community.

TOURISM RESERVATION SYSTEM REFINEMENT

• Purpose: To create an online reservation system to take advantage of the growing trend of consumers booking vacation packages online;

• Objective: Increase the number of vacation packages sold, and increase overall tourist visitation to the city.

AGAWA CANYON TOUR TRAIN REVITALIZATION PROJECT

(ONGOING)

• Purpose: To purchase and upgrade passenger coach equipment on the Agawa Canyon Tour Train and to add onboard audio/video technology, making the tour one of the most unique and high tech rail services;

• Objective: Increase passenger volumes to historic levels.

RESTRUCTURING OF PROVINCIAL TOURISM REGIONS AND

ASSOCIATED FINANCING

• Purpose: Ontario Ministry of Tourism, following the recommendations in the Sorbara Report created 13 tourist regions in the province (one in Northern Ontario) so as to better collaborate in tourism marketing, product development, investment attraction and capacity building;

• Objective: Provide stable funding to the new regions to be filtered down to DMOs like TSSM so as to help the province double tourism receipts by 2020.

28


DESTINATION DEVELOPMENT PLAN FOR NORTHERN ONTARIO

(INC: PRODUCT DEVELOPMENT)

Purpose: Development of a Destination Development Plan for Northern Ontario that will address the specific needs of the two sub-regions for Northern Ontario;

Objective: Identify key areas to help increase tourism receipts in Northern Ontario and map out a solid direction for the four pillars: Marketing, Investment Attraction, Product Development and Capacity Building.

CORPORATE SERVICES

INTEGRATED CORPORATE COMMUNICATIONS & COMMUNITY

PROMOTION STRATEGY

• Purpose: to develop and implement a comprehensive communication strategy for the SSMEDC that is integrated with the broader community promotion and attraction strategy;

• Objective: to integrate the promotion and marketing elements of other strategic initiatives with an effort to build awareness and understanding in the community of the relevance and importance of being a globally competitive place to do business.

HUMAN RESOURCES DEVELOPMENT STRATEGY

• Purpose: to undertake a review of the current staff complement, assess their current job descriptions and work activities, assess the current and future needs of the organization and determine the human resource capacity required and the specific skills knowledge and expertise required for each position along with a change management plan to support any transition, resources, training or recruitment requirements;

• Objective: to have a high-performing corporate workforce capable of implementing the strategic plan as well as delivering the Corporation’s programs and services in an exceptional manner.

COMMUNITY BASED BUSINESS SERVICE IMPROVEMENT INITIATIVE

• Purpose: to enhance the SSMEDC and City’s understanding of the needs, services and an expectations of businesses with regard to the services and activities provided by the Corporation and the Municipality in order to improve customer service. This will be achieved through:– Enhancements to the current SSMEDC business directory to identify

in more detail the products and services and expertise offered by the private sector in the community;


29

– A survey of small to medium-size enterprises in the community to learn more about their experience, needs, expectations and requirements in relation to the SSMEDC and City’s delivery of programs and services that affect their ability to develop or undertake business.

– The development of an action plan to address any improvements required in the delivery of their services and programs.

– Develop a results and accountability framework to measure progress;• Objective: to increase the competitiveness and quality of customer service

by the SSMEDC and City in support of businesses in the community.

INTEGRATED RESULTS, PERFORMANCE AND ACCOUNTABILITY

FRAMEWORK

• Purpose: to improve the way the SSMEDC is able to assess its activities programs and service in relation to its overarching strategic goals and objectives, as well as assess specific projects and initiatives it is undertaking in support of the economic development of the community.

• Objective: to have an integrated results, performance and accountability framework that is endorsed by the City and enables the Corporation to demonstrate its value and relevance for the economic development of the community.

STRATEGIC AND ANNUAL BUSINESS PLANS

• Purpose: to describe how the SSMEDC will achieve its mandate, mission, vision, goals and objectives over the stated period of time.

• Objective: to describe to staff, Board, City, and community at large how the Corporation delivers its programs and services in order to plan, implement and measure outcomes.

CORPORATE DEVELOPMENT STRATEGY

• Purpose: to have a corporate plan that guides the division and establishes priorities over the 2012 – 2015 time frame in order to improve revenue generation, cost containment, accommodations, human resource management, information technology, client relations and financial management

• Objective: to describe the plan to achieve continued progress and be even more competitive, efficient and effective in the delivery of corporate services.

30


Programs and ServicesThe SSMEDC will carry out the following programs and services in order to support the SSMEDC’s goals and objectives. It will be elaborated on further in the SSMEDC Business Plan.

Business Tourism Corporate Services

Invest Sault Ste. Marie:Local Industry, Global

Competitiveness Initiative*

including: investment attraction, trade and regional

industrial benefits (IRB) opportunities

Development and Delivery of Annual

Marketing Plan

Support for CEO’s Office and Board of

Directors

Business Retention, Expansion and Investment

Conventions, MeetingsSports Tourism

Governance, Reporting and Accountability

Economic Development, Investment, Trade and Business Development

Networks

Festivals & EventsFinancial Management, Audit, Procurement and General Administration

Entrepreneurial Mentoring, Business Consulting and

Client Development

Vacation and AttractionsPackaging

Human Resources &Professional

Development

Educational Workshop /Seminar / Regional

Outreach

Special Projects –e.g., Product

Development: Gateway/Tour Train

Communications

Entrepreneurship and theEnterprise Services

Program

Regional Tourism Planning and Development

Economic Development Fund (EDF)

Administration

Participation in Tourism Marketing and Development Networks

& Provincial/National Organizations

Destiny SSM Administration

(the community’s economic diversification

strategy)

(As has been noted, these programs and service are predicated on the availability of the financial resources necessary to implement them. Not all may be achievable in the proposed timeframe due to this limitation.) * (New Program) The Local Industry, Global Competitiveness Initiative is identified both as a strategic project and a program due to the duration of this initiative. The objective is to have an incremental increase in the efforts of the SSMEDC to promote trade, investment and international regional benefits.

XI


31

Key Performance IndicatorsThe 2008 millierdickinsonblais report on its review of the Sault Ste. Marie Economic Development Corporation included a section that measured the effectiveness, relevance and efficiency of the programs and services that the SSMEDC offers. It also included an approach on measuring the return on investment (ROI) for these programs and services. While the SSMEDC did not have an explicit framework of key performance indicators, the consultant was able to determine, through surveys and analysis, that the Corporation performed very well and offered recommendations for even higher performance.

The SSMEDC has key performance indicators for most of the programs it delivers and the services it provides. It also tracks its business retention and expansion efforts. The Corporation is expected to regularly report to City Council on these key performance indicators and has a memorandum of understanding (MOU) agreement with the City of Sault Ste. Marie to do so.

The Corporation will be reviewing these key performance indicators to ensure that they truly reflect the community’s economic growth and development, and ensure that the indicators are well aligned with its current mandate mission and goals. The SSMEDC will also be discussing how best to address in the context of the SSM Economic Development Fund and the City's MOU agreement with respect to the indicators it has identified. These will be reflected in an addendum to the strategic plan (to be developed in 2012) and addressed in each annual business plan.

Conclusion As Sault Ste. Marie moves through the first part of the second decade of this millennium, it can reflect on the fortunate circumstances that have enabled it to retain its population, diversify its economy and grow. The Sault Ste. Marie Economic Development Corporation, by virtue of opportunity, good fortune and a lot of hard work, is better positioned today to take on the challenges of an increasingly globally competitive environment than it has ever been before.

This strategic plan broadly outlines the direction and priorities for the Corporation for the foreseeable future. It seeks to balance the risks and uncertainties of the economy with considerable knowledge and experience in economic development. With the strong and enthusiastic staff, a dedicated Board of Directors and, along with a very supportive community, Sault Ste. Marie is well-positioned to take on the challenges of the 21st century as an economic development leader in the region.

This realigned plan will help enable the Corporation and community to focus its economic development approach and efforts.

XIII

XII

32


Appendix A: Summary of Success Factors For High-Performing Economic Development Corporations

INTERNATIONAL ECONOMIC DEVELOPMENT COUNCIL (IEDC) REPORT

SUCCESS FACTORS

High-performing EDO's tend to share eight success factors. These organizations:

• Are driven by their customer. With so many stakeholders impacted by and engaged in the work of an EDO it can be challenging to determine who is the “customer”, yet this step is critical in designing effective programs and services and developing organizational capacity.

• Operate with a strong strategic plan. A strong strategic plan is grounded in the realities of the community, what it can achieve and where it wants to be several years down the line. High-performing EDO's are also flexible and adaptable, however – they know when it's appropriate to deviate from those well made plans.

• Measure results and adjust accordingly. High-performing EDO's constantly evaluate their work to determine if objectives are being met, stay accountable, detect problems before they escalate, and seek new ways to improve.

• Are creative risk-takers. EDO's must be entrepreneurial and innovative to understand and address the challenges of globalization, economic downturns, climate change, and industry shifts. Though EDO's must deliver results and be held accountable sometimes they need the freedom to be creative in order to deliver at a higher level.

• Build strong alliances and networks. High-performing EDO's not only create opportunities for economic development alliances and networks to flourish, they also institutionalize them. This ability to convene, connect and collaborate in enhances the coordination of economic development efforts, increases capacity, and improves credibility.


33

• Earn the trust and respect of their communities. The strongest EDO's do this by consistently delivering results; focusing on customers; engaging in effective, open communication; building lasting partnerships and technology the contributions of partners; and upholding high standards of integrity, trust and honesty.

• Are efficient with funding resources. In many cases, high-performing EDO's are working to decrease their reliance on public sector funding and to deliver their funding streams by charging for some services are looking to non-traditional sources of funding. Beyond financial resources, high-performing EDO's also use their staff wisely and focus their resources where they will have the most impact.

• Invest in their people. High-performing EDO's invest in the development well-being of their employees. Most organizations offer professional development through training programs and networking opportunities, but most high-performing EDO's practice “people development” – i.e., nurturing their potential to perform better in the future.

EFFECTIVE ECONOMIC DEVELOPMENT LEADERS

In addition to identifying organizational success factors, the research explored essential qualities of effective economic development leaders.

• High-performing EDO's have passionate, innovative and capable leadership. They care deeply about what they do, motivate their staff and partners, think creatively, and effectively carry through on their commitments.

• Leaders of high-performing EDO's are strategic thinkers and operators. Effective leaders anticipate opportunities and prepare for them; create opportunities by thinking innovatively; and transform challenges into opportunities.

• Great leaders are highly effective communicators. The ability to communicate well distinguishes leaders from high-performing EDO's from their competitors. They are able to distill and convey complex ideas; use different communication styles to meet the needs of different audiences; our active listener; and maintain open lines of communication.

34


• Leaders of high-performing EDO's embrace change as a baseline for success. High-performing EDO's are adaptable and have staff and leadership that embrace change, rather than fear it, and seek to find new opportunities in it.

• High-performing EDO's form great teams to carry out the work. Developing a talented staff and providing them with meaningful roles gives them a stake in the organization's mission and success, resulting in a dedicated team that is stronger than the sum of its parts.

• Leaders of high-performing EDO's are ethical and represent community interests. Ethical behavior is modeled at the top and supported with policies and resources that enable employees and peers to make ethical decisions. These organizations never lose sight of their responsibility to serve the greater good of the community.

ANNUAL REPORT 2011 | SAULT STE. MARIE ECONOMIC DEVELOPMENT CORPORATION I

99 Foster Drive Sault Ste. Marie, Ontario Canada P6A 5X6

www.sault-canada.com

Phone 705-759-5432

Toll Free 1-866-558-5144

Fax 705-759-2185

Email [email protected]

Sault Ste. Marie Economic Development Corporation · 4 Sault Ste. Marie Economic Development...

Documents

Transcript of Sault Ste. Marie Economic Development Corporation · 4 Sault Ste. Marie Economic Development...