GVDA 2012
2012
A Successful Delegation to China In 2012, The Greater Victoria Development Agency (GVDA) led a delegation to China that included City of Victoria Mayor Dean Fortin and a number of industry representatives from throughout the region. China is an important and relevant partner to Victoria because of our community’s existing cultural and business ties. The delegation, which visited six cities in 10 days, was a resounding success. The trip supported major economic development for immigration, cultural exchange, tourism and education in Greater Victoria. Some highlights include:
Immigration
Tourism
Over 50% of all investment inquiries received by the Greater Victoria Development Agency come from China. With a large number of small business owners in Greater Victoria planning to retire in the coming years, immigrants represent a real opportunity for the region. Throughout the mission, immigration consultants met with dozens of clients to inform them of opportunities.
Meetings took place with over 50 tour operators responsible for promoting tour packages to Canada. These meetings furthered existing relationships to include Greater Victoria in their promotional activities – such as using Weibo (China’s version of Twitter) and Ren Ren (China’s version of Facebook). New meetings also prompted interest in Greater Victoria and Vancouver Island as destinations from a market that is experiencing 40% increases in outbound tourism. This is a direct win for the region.
Under the Provincial Nominee Program, a minimum investment of $200,000 is required to qualify. Additionally, the investment must lead to at least one full time job for an existing Canadian citizen. This means for every five immigrant investors achieved during this mission, an immediate $1.1 million is injected into the local economy.
Cultural Exchange The Department of International Exchange in Changsha plans to develop a 50-student summer cultural exchange program with Greater Victoria. The initial investment from Changsha would include $100,000 for travel, accommodation, and other expenses.
Education International students’ impact on Greater Victoria’s economy exceeds $3 billion per year making it a significant local industry. Every dollar invested in educational institutions more than triples its impact to the local economy. The delegation enabled Sooke School District #62 to launch a program for 50 students from Changsha’s Mingde School to attend various schools in the Sooke district next year, which is expected to bring an economic impact of $1.8 million per year and $9.7 million over five years as the program increases to include 20 more students.
2012
Message from our 2013 Chair
Michael Weston
The Greater Victoria region is one that truly values the quality of life it offers to all citizens. That is why regional sustainability is at the top of the agenda for elected officials, non-profits, and the CRD. Of critical importance to our region’s quality of life is economic sustainability. The work that the Greater Victoria Development Agency (GVDA) accomplishes on behalf of both the community and local businesses is key to the ongoing economic health of Greater Victoria. The GVDA is an organization that punches above its weight – success not with abundant resources, but boundless enthusiasm. As the lead economic development agency for Canada’s 15th largest metro-region, the GVDA
works tirelessly to ensure that our region is balanced – where the quality of life we treasure is enhanced with quality of opportunity. Being a centre of opportunity is essential for all citizens. Students need career development. Families need stable incomes to support their households. Local governments need diverse revenues to reduce fiscal pressures. And small businesses need customers that can afford to make discretionary purchases. Our desire to enhance and improve our shared home has also reinforced the importance of building strong partnerships, emphasizing the benefits of collaboration in order to achieve our full potential as a region. I would like to thank all the Greater Victoria Development Agency’s partners and stakeholders who have supported and contributed to our efforts over the past year. Together we will help ensure that Greater Victoria remains a vibrant place to live, work and invest. - Michael Weston, CEO, Cube Global Storage
Our Mandate Since 2007, the Greater Victoria Development Agency (GVDA) has been the central organization responsible for high-level economic development services to the capital region. This does not mean serving as a consultant to municipalities on their specific development needs; rather, the GVDA works across all local boundaries to ensure that the short and long-term needs of the region’s economy are being assessed and appropriately addressed. This mandate is achieved through five primary areas: Retention & Expansion
Competitiveness
By retaining and expanding existing businesses and employers, we’re helping Greater Victoria maintain a diverse economy and help it grow.
Progression of regional competitiveness ensures the region remains a better place to do business relative to competing cities and areas over time.
Creation & Growth
Integration & Engagement
Entrepreneurship is essential to the region, and the GVDA assists with the creation and growth of new business and employers.
Regional integration and stakeholder engagement means bringing the region’s institutions, agencies, municipal partners, businesses, citizens and the CRD together to share support for common economic sustainability goals.
Attraction By attracting external businesses and investors to the Greater Victoria marketplace, the GVDA is helping the region diversify.
Meet the New Economic Development Officer
Dallas Gislason
of stimulating the economy sustainably (detailed on page four). In August, we started planning an intensive trade-mission to China. The 11-day six-city mission to China was highly fruitful and is detailed on page one. We also continued some strong traditions throughout the year: like continuing to distribute Victoria’s 2012 Business Magazine worldwide to 20,000 contacts, maintaining an informative regional profile website – with a translation tool into 56 languages, and working with the Capital Regional District to inform the economic sustainability pillar of the Regional Sustainability Strategy. The GVDA published a 2013 Business Plan in December that set the priorities for the year. Of essential importance to this region will be investing in our future. With economic growth of 0.9% in 2012, we need to do better. It is my job to convince regional players not only how to do better, but why it is essential to our future and our children’s future.
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I want to extend my personal thanks for your contribution to an outstanding mission to China. Your organizational excellence and understanding of economic development proved invaluable for all involved… I know the great amount of work you put into planning this event; the care and attention was obvious to everyone involved… thank-you for helping achieve the mandate to move forward; you are a tremendous asset!” - Dean Fortin, Mayor, City of Victoria
2012 in Review 2012 was another highly active year for the GVDA. Whether hosting 15 in-bound delegations from around the globe, or participating in the KPMG 2012 Competitive Alternatives Report, the GVDA actively reported on the economy and overall economic issues while promoting development in the region. In addition to the locally focused efforts, the GVDA participated in the nationally distributed Conference Board of Canada’s Economic Predictions Reports. The GVDA also maintained the Opportunities BC webportal, which markets province-wide business opportunities to the world. At the regional level, the GVDA continually reported on 60 metrics for the local economy online, as well as reported on the economy and economic issues in the media four to five times per month. Flip to page five to see a small sample of the many media outlets featuring commentary by Economic Development Officer Dallas Gislason, and to page six for the GVDA’s highlighted events. In addition to the praise received by local elected officials and business leaders, the GVDA’s efforts were also globally recognized by fDi Magazine from the Financial Times for creating one of the top ten best foreign direct investment strategies for a small city on page seven.
2012
In June 2012 I joined an organization with an important mission: keeping Greater Victoria’s economy vibrant. For the last decade of my career, I’ve enjoyed delivering on this mission in various regions of Saskatchewan, Alberta, Manitoba, and other parts of the world. In this region, it will be essential in my role to bring an increased level of awareness – to citizens and decision-makers alike – of the important role that the economy plays in maintaining our quality of life. Economic sustainability is as important as environmental or social sustainability – and in fact, they must be developed in parallel. When I joined the team we were in the midst of a stakeholder consultation process that generated a Major Regional Projects list for the region. This list was used to inform decision-makers on what various investments would have the highest chance
2012
Identifying Greater Victoria’s
Top Infrastructure Priorities In 2012 the Greater Victoria Development Agency (GVDA) created a list of key infrastructure projects that would improve Greater Victoria’s economic landscape. The GVDA made a call for submissions from community stakeholder groups, which were then analyzed for their regional scope, contribution to competitiveness, economic impact, timeframe of implementation, and community support before being endorsed on the list. Project submissions are accepted on an ongoing basis and the GVDA continuously encourages the public to put projects forward for consideration.
The list can be divided into three categories:
Regional Transportation Infrastructure Effective transportation infrastructure is essential to transporting goods, workers and tourists smoothly in and around Greater Victoria. Regional Overpasses: McKenzie Interchange / #1 Highway Connection of the Westshore Communities to Victoria/Saanich Victoria Harbour Transportation Gateway Optimization (including the Belleville Terminal) Airport Runway Extension – Achieved The Victoria Airport Authority announced a self-funded expansion plan in March 2013 BC Marine Highway
Supporting Local Job Creation & Retention Entrepreneurship is essential to the region, and the GVDA assists with the creation and growth of new business and employers.
Marine Production Centre – Graving Docks Legislative Precinct Renewal UVIC: Centre for Athletics, Recreation and Special Abilities (CARSA) – Achieved Site preparation and construction began in February 2013; although fundraising still continues. Camosun College: Centre of Excellence for Marine, Metal and Mechanical Trades – Achieved Camosun College secured $29 million in funding from the Ministry of Advanced Education for the Centre of Excellence in September 2012
Lifestyle & Talent Attraction By attracting external businesses and investors to the Greater Victoria marketplace, the GVDA is helping the region diversify. Pacific Institute for Sports Excellence (PISE) Phase Two Amphitheatre/Downtown event site Saanich Peninsula Visitor and Interpretive Centre Visitor Centre Upgrades (Downtown) Developing Cycling Infrastructure - Photo Courtesy of Tourism Victoria
Marketing Greater Victoria to the World
The magazine is supported through advertising and matched with federal government program investment. The 2014 edition will be produced by BlackPress. For advertising inquiries please contact Oliver Sommer at BlackPress at 250-480-3274 or osommer@blackpress.ca
- Darlene J. Hollstein, General Manager, The Bay Centre
GVDA in the Media The Greater Victoria Development Agency provides regular commentary in various local media. The following are just a few examples where the GVDA added key insights into local stories: RETAIL
progress2012
A report on business in Greater Victoria
Wednesday May 2, 2012
ANCHORS AWAY The region and shipbuilding
THE S-WORD
Business and sustainability
PROTEIN POWER
Cutting edge science in Victoria
2012
Each year the GVDA publishes an international Business in Greater Victoria guide and distributes it around the world to 30,000 contacts. This magazine showcases the many opportunities that the region offers as a place to live, work, do business, and invest. Potential investors in Canada’s major cities, as well as in places like San Francisco, Seattle, and many parts of North America, Europe, and Asia have a stronger awareness of the region’s overall attractiveness.
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The Business in Greater Victoria [magazine] is a comprehensive one-stop source of economic information for Greater Victoria. It continues to be a key marketing tool in our marketing packages for prospective retailers to the city.”
2012
Bringing the Region Together The Greater Victoria Development Agency (GVDA) is host to a number of events intended to engage both consumers and companies, and to unite industry sectors. From hosting educational seminars to one-on-one CEO meet and greets, the GVDA works hard to connect businesses in Greater Victoria with the resources they need to grow economic development. Here are a few of the 2012 GVDA event highlights:
2012 Economic Forum The GVDA co-hosts the annual Economic Forum in Greater Victoria. The event draws over 200 participants and features captivating presentations from a number of industry representatives. This year the event showcased Greater Victoria’s growing manufacturing, technology, industrial, and tourism sectors. A key theme throughout the morning was the ongoing need to draw highly skilled workers to the region, and a focus on growth opportunities.
Industry Tours In 2012 the GVDA began a series of industry tours to promote key sectors in Greater Victoria. Although many of these businesses are well known around the globe as innovative industry leaders, few Greater Victorians realize they are here. By opening the doors of these less visible industries, the GVDA is developing partnership opportunities among the diverse businesses in the region. Interested in hosting or participating in an industry tour? Contact us at 1-888-573-8181.
Economic Roundtables Each month the GVDA hosts an economic roundtable. The monthly sessions capture a wealth of data from a broad range of sectors, ensuring the GVDA maintains an accurate picture of economic trends. Recurring sectors include trourism, manufacturing, real estate, technology, education, arts and culture.
“
The GVDA has been a tremendous resource for our business. We were looking at new business opportunities overseas and their advice was a huge support in our success. If you are looking for practical and effective advice, the GVDA is the place to go.” - Larry Cole, President and CEO, Madesco Technologies
Putting Greater Victoria on the Map
These three awards represent an important opportunity for Greater Victoria. In 2012, Victoria’s regional GDP grew by only 0.9 percent, ranking it 25th out of Canada’s 28 metro-regions. The new postrecession reality for Victoria is that our community can no longer rely on government employment for stability. We must embrace local private-sector firms and new entrepreneurs as the future job creators – namely through high-technology, advanced manufacturing, shipbuilding & repair sectors. By growing these driving economic sectors the region can support the struggling retail and service sectors, as well as create new construction and housing demand – all of which support the fiscal bottom-line of local governments.
Foreign direct investment (FDI) is a key ingredient to growing these driving sectors. A growing company needs access to capital. The type of growth-oriented capital required is not typically found locally, rather, it is found within the experienced venture capital industries, like those found in California. It is also found in larger, wellcapitalized firms, as was the case when Amazon.com bought local used-book champion Abebooks.
- Photo Courtesy of Tourism Victoria
These awards recognize Greater Victoria’s strengths as a place to invest; they are a testament to the fact that world-class talent loves living here. Our local municipalities’ commitment to fostering a high quality of life (through cycle lanes, infrastructure, healthcare services, etc.) is regarded as a key factor of investment attractiveness. The next step for the region is to take advantage of this opportunity by working even more closely with the GVDA to make economic development a priority. The GVDA continually develops and nurtures the local environment for FDI opportunities, helping diversify and stabilize the local economy. To be recognized for these efforts is an honour. However, we are just getting started.
2012
For the third time, Victoria was identified by fDi Magazine from the Financial Times as amongst the best across North and South America in its attractiveness as a place to invest. In the 2013/2014 America Cities of Future Awards announced in 2013, Greater Victoria took home honours as overall winner in the small city category & winner in business friendliness in the small city category. In addition, the Greater Victoria Development Agency (GVDA) was recognized for its effectiveness by receiving Top 10 FDI strategy (small city category) from a panel of independent judges.
2012
Greater Victoria Development Agency 2012 Board of Directors Michael Weston
Carmen Charette
David Corey
Dan Dagg
Dan Gunn
Darlene Hollstein
Sang Ly
Trina Mousseau
Craig Norris
Bob Pearce
Tom Roemer
Terry Stewart
Dan Tulip
Bruce Carter
Greater Victoria Harbour Authority
WestShore Chamber of Commerce
Founder Cube Global Storage
Executive Director VIATeC
Managing Associate Stantec Inc.
Vice President & Chief Financial Officer Royal Roads University
Vice President, External Relations University of Victoria
Past Chair Downtown Victoria Business Association
Vice President Townline Developments
Chief Executive Officer Greater Victoria Chamber of Commerce
Chief Executive Officer Victoria Real Estate Board
Partner KPMG LLP
Vice President, Strategic Development Camosun College
President Hot House Marketing
Director, Destination Marketing Tourism Victoria
Director, Marketing & Community Relations Victoria Airport Authority
Greater Victoria Development Agency 2012 Regional Funding Partners 150
Greater Victoria Development Agency 2013 Contact Information
Contact the GVDA Economic Development Office at 1-888-573-8181 By email at dgislason@gvda.ca or on our website www.gvda.ca