Team Summerside - Opportunities and Challenges

Small city. Big ambition.

Team Summerside Ambassador Orientation

Overview

• Where we are: Summerside’s current conditions and the economy

• What we are doing about it

• How do we take Summerside to the next level?

• How you can help us get there

• Discussion

Current Situation

• Summerside is a small city with big ambition: We have a vision of becoming a world-class city with a thriving business community, strong workforce and superior lifestyle for our people

• Summerside has worked hard towards this vision, but there is still much to be done

• Summerside faces some unique challenges in relation to neighboring municipalities and Canada as a whole…

Our population is declining…

% change in pop’n 2001-2006

Geography 2006 2001 Difference

Canada 39.5 37.6 1.9

PEI 40.8 37.7 3.1

Summerside (CA) 41.3 38.1 3.2

Charlottetown (CA) 39.9 37.5 2.4

Moncton (CMA) 39.4 37.8 1.6

Halifax (CMA) 39.0 36.6 2.4

…and aging.

Median Age 2001-2006

Average household income has decreased:

Change in household income 2001-2006

And our young people continue to leave in search of education, employment and adventure.

ECONOMYECONOMY

We have a choice in how we react.

A look at some of our efforts to date…

Suite of information brochures

National television commercials

“The Piper” and “Time”

Ran during the Canada Games and have received over 1,000 views on YouTube in 3 months

Don’t Go Home Campaign

Social Media

Targeted Sector Attraction

So how do we take Summerside to the next level?

A Shared Vision for Summerside

• Treat economic conditions as an opportunity• Nurture local business and entrepreneurism• Make human capital our most valuable asset• Create accessible and accountable education• Engage community leaders• Become a world-class community

1. Treat economic conditions as an opportunity.

Lessons for an Uncertain Economy

• Focus on new/emerging industries, but don’t forget key knowledge/strengths

• Don’t be lured by large-scale short-term wins• Keep local politics out of economic development

and focus on broad partnerships• Don’t ignore ongoing workforce development in

favour of just creating “any jobs possible”

Source: KPMG

2. Nurture local business and entrepreneurism.

Summerside’s Economic Development Office must work with local business to ensure you have the tools and resources you need to grow and expand.

A key area of focus for 2010 and beyond will be the development of entrepreneurship programs, particularly for Summerside’s youth.

3. Make human capital our most valuable asset

According to a yearlong study conducted by McKinsey Co., the most important corporate resource over the next 20 years will be talent.

It's also the resource in shortest supply.

How to attract the “next” generation:

4. Accessible and accountable education

Universities have long played an important role in research, development, and technology generation. Recently, they have proven key contributors to regional development too. - Richard Florida

A learning institution in Summerside:

• Could allow our youth to get an education without leaving our community

• Could provide training for our current workforce and attract new talent here to be trained

• Could be a vehicle for fostering entrepreneurship

• Could fuel innovation through R&D and technology

• Could be targeted to emerging industries

5. Engage community leaders

Who is a Summerside Ambassador?

• Leaders who have strong affiliations with their industry associations and organizations.

• High-profile community members, past and present, with recognition and credibility beyond the community.

• Leaders in sectors such as Health IT, aerospace and retail that are a strategic focus for growth.

• Most importantly, each member must have a passion for Summerside. They must live their commitment through ongoing involvement and support for our city.

6. Become a world-class city.

What is a world-class city?

•Superior physical infrastructure and public services•Highly skilled & productive workforce•Highly accessible & accountable educational system•Innovative business models that create catalyst investments and lead to a robust business climate•Forward thinking economic development policies

…cont’d• Highly competitive & diverse local economy• Vibrant performing & visual arts community• Abundant recreational activities & green-space• Attractive cost of living for human capital• Exceptional geography is a bonus

In closing

Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has.

- Margaret Mead