Be bold, Bonnyville. Bonnyville Regional Economic Development Plan Joint Council Presentation
Presented by:
Paul Blais, Executive Vice-President, MDB Insight
Date:
February 11, 2021 Photo: Paul Blais
Developing the Strategy
Be bold. Photo: Paul Blais
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Developing the Strategy
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Developing the Strategy
Quick Wins - Investment Readiness 1. Build rapport and collaboration 2. Welcoming policy regimen 3. Inventory of available properties 4. Same-day response to inquiries 5. Local business intelligence 6. Marketing support
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Key Findings
Community Engagement / Consultations 126 resident survey responses 83 business interviews 30 participants at 3 workshops 15 content expert deep-dive interviews 10 one-on-one local influencer interviews MDB Insight - Bonnyville Regional Economic Development Plan
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Business Survey - Interventions
Expansion
15% No Intervention “Red/Green Flag” Required Interventions 60% 40%
Downsize 9% Relocate / Close
10% Sale 6%
Economic Development staff followed up with every flagged business. MDB Insight - Bonnyville Regional Economic Development Plan
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Key Findings
Themes from Workshops and Interviews • Need for economic diversification • Leveraging natural assets for economic success • Build thriving / robust tourism sector • Excellent opportunity to expand agriculture • Mobilizing workforce • Capitalizing on proximity of CFB Cold Lake • Marketing / communications
30 participants at 3 workshops 10 local interviews 15 deep-dive interviews 1 consultant visit MDB Insight - Bonnyville Regional Economic Development Plan
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Economic Drivers
Be bold. Photo: Paul Blais
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Strategy Implications
Economic Drivers
TOURISM
OIL & GAS
PROTEINS & AG TECH
RENEWABLE ENERGY
MILITARY PROCUREMENT
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Economic Drivers
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Strategic Objectives
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How do we get there?
Strategic Objectives
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Secure capacity for investment readiness
Focus on economic diversification
Build a brand that excites, attracts, and delivers
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Strategic Directions and Actions
Direction 1: Secure capacity for investment readiness
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Investment Readiness
❶ Amplify commitment to delivering economic dev. services A. Ensure fundamental policies and tools are in place to activate services B. Establish protocols for responding to investment inquiries C. Launch marketing aimed at potential investors and local businesses
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Investment Readiness
❷ Build confidence among businesses and partners A. Continue communication and rapport with all municipal departments B. Strengthen relationships with gatekeepers of funding / policy change C. Implement Business Retention & Expansion program involving outreach, business visits and follow-up D. Align intentions and resources with others to achieve results of mutual benefit MDB Insight - Bonnyville Regional Economic Development Plan
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Investment Readiness
❸ Develop infrastructure for shovel-ready investment A. Assess capacity of utilities to meet long-term development needs B. Ensure land use plans are flexible, allowing development to proceed with minimal approvals C. Provide tools for municipal staff to expedite consultations
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Strategic Directions and Actions
Direction 2: Focus on economic diversification
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Economic Diversification
❹ Diversify existing industry sectors – Proteins & Ag Tech A. Engage farmers, agri-businesses, greenhouse operators, and food processors B. Connect entrepreneurs interested in protein development to programs / specialist agencies C. Connect farmers, greenhouse operators, and food processors to buyers and promoters of local food in Alberta’s urban markets MDB Insight - Bonnyville Regional Economic Development Plan
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Economic Diversification
❹ Diversify existing industry sectors – Retail & Services D. Implement Downtown Area Redevelopment Plan §
Improve visual appearance of Town entranceways
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Understand investment targets with market evaluation / gap analysis
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Inspire businesses to reimagine stores and services for tourism MDB Insight - Bonnyville Regional Economic Development Plan
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Economic Diversification
❹ Diversify existing industry sectors – Oil & Gas G. Leverage talent and expertise of oil and gas workers and entrepreneurs to supply workforce for diversifying industry H. Capitalize upon investments outlined in Province’s Natural Gas Vision and Strategy
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Economic Diversification
❺ Support Emerging Industries – Tourism and Quality of Place A. Develop publicly owned tourism assets B. Encourage small businesses to monetize experiences C. Build word-of-mouth advertising for tourism experiences
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Economic Diversification
❺ Support Emerging Industries – Military Procurement D. Help build capacity and awareness among businesses of military procurement opportunities E.
Leverage the region’s assets to explore opportunities in drone testing
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Economic Diversification
❺ Support Emerging Industries – Renewable Energy Alternatives F.
Keep current on renewable energy alternatives § Example: Small scale nuclear for industrial energy needs
G. Explore alternative energy solutions with solid business cases
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Strategic Directions and Actions
Direction 3: Build a brand that excites, attracts, and delivers
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Build the Bonnyville Brand
❻ Celebrate the region’s advantages, innovations, points of pride A. Improve joint marketing efforts to brand region as preferred destination for visitors, new residents, investment Buy Bonnyville Y
B. Measure results of marketing activities
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Build the Bonnyville Brand
❼ Inspire businesses, community leaders and citizens to act as investment ambassadors A. Develop a team of business champions B. Harness local networks, creativity, and success
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Next Steps
Quick Wins Spend 2/3 of each working day establishing these foundational pieces and initiatives of immediate concern: • Put in the place necessary policies, protocols, promotional tools • Reach out with business retention and expansion visits and follow-ups • Develop publicly owned assets, specifically M.D.’s recreational properties • Increase sales of local products, services, and experiences • Create the team of Bonnyville business champions • Celebrate successes, learn from failures MDB Insight - Bonnyville Regional Economic Development Plan
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Next Steps
Goals on the Horizon Spend 1/3 of each working day on long-haul efforts: • Connect farmers, agri-businesses and food producers to industry innovators in proteins and ag tech • Match farmers and food producers to grocery chains and chefs • Understand Bonnyville’s retail assets and gaps and inspire businesses to reimagine what they are selling in a world increasingly dominated by online retail • Stay current on programs affecting oil and gas, alternative energy production, and transition initiatives for workforce • Remain mindful of the massive investment at CFB Cold Lake and help businesses understand how to take advantages of opportunities MDB Insight - Bonnyville Regional Economic Development Plan
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Be bold, Bonnyville.
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