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Head and Regional Office Report Presenation
Oct 29, 2014
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 and Best Practices for Attracting and Retaining Head and Regional Offices
HALIFAX HEAD AND REGIONAL OFFICES
HALIFAX HEAD AND REGIONAL OFFICES
Research and Best Practices for Attracting and Retaining Head and Regional Offices
EMPOLYMENT CHARACTERISTICSIN THEBEGINNING
WHY STUDYHEAD 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
IMPACT OF THE INSURANCE INDUSTRY
HRO INSURANCE
HRO INSURANCE
EMPOLYMENT CHARACTERISTICSHALIFAX HROIMPACT
Presented by Funders
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
APPROACH
Literature review Trends Benchmarking Best Practices
Impact analysis
EMPOLYMENT CHARACTERISTICSHROPROFILE
8.2CANADA
7.1BC 10.7
AB
8.9SK
8.7MB
8.5ON
7.21QC
7.1NB
8.2NS
7.0NL
HEAD OFFICES IN CANADA
Ratio of Head Offices per 100,000 Population
Source: Statistics Canada, Annual Head Office Survey, 2012, CANSIM Table 528-0001
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
OTHER JURISDICTIONS PAYING ATTENTION TO HEAD OFFICES
HEAD OFFICE TRENDS
EMPOLYMENT CHARACTERISTICS
IMPACTSECONOMIC
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
THE HRO SECTOR IS 3 TO 5 TIMES LARGER THAN THE CROSS SECTION
USED IN THIS STUDY
3x5x
To
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
Source: Hoovers, InfoCanada, Greater Halifax Partnership, 2013
PROFESSIONAL, SCIENTIFIC & TECHNICAL SERVICES
MANUFACTURING
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%
13,460SPINOFF
Source: Hoovers, InfoCanada, Greater Halifax Partnership, 2013
IMPACTS ON THE NOVA SCOTIA ECONOMY
PERSON-YEARS OF
EMPLOYMENT
12,151DIRECT
TOTAL25,6
11 HOUSEHOLD
INCOME
$574.5MILLIONDIRECT
$744.1MILLIO
NSPINOF
F
TOTAL$1.3 BILLION
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
POTENTIAL HOUSEHOLD SPENDING IN NOVA SCOTIA
RESTAURANT MEALS
$38.2 M
STORE-BOUGHT FOOD
$101.4 M
TOTAL
$139.6 MFOOD SPENDING
CHARITABLE CONTRIBUTIONS
$11.9 M
ENTERTAINMENT
$11.9 M
RETAIL ITEMS
$92 M
Source: Economics and Statistics Division, Nova Scotia Department of Finance, 2014
$1.1 BILLIONSPINOFF
GROSS DOMESTIC
PRODUCT
$1.3 BILLIONDIRECT
TOTAL$2.4
BILLION
FEDERAL$192.7 MILLION
PROVINCIAL$193.9 MILLION
GDP IMPACT TAX CONTRIBUTION
Source: Hoovers, InfoCanada, Greater Halifax Partnership, 2013
DIRECT GDP PER WORKER
TOTAL NOVA SCOTIA ECONOMY (2012) $93,350SAMPLED HROs IN HALIFAX (2013) $109,760
AVERAGE WAGES (2012)
ALL INDUSTRY AVERAGE, NOVA SCOTIA$790HEAD OFFICE OPERATIONS, HALIFAX$1,083
CHARITABLE GIVING & COMMUNITY DEVELOPMENT
Community Development Participation
Employee Giving
Corporate Giving
EMPOLYMENT CHARACTERISTICS
OBSERVATIONSKEY
“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
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
CHOOSING A HEAD OFFICE LOCATION
Auther D. Little
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
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
3434
THANK YOU!
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