Local Economic Development Forum for Engaging the Private

Sector & Academia Leyte, Philippines

My Experiences from CanadaRural & Small City

Presented by: Dan Taylor Twitter: @CreativeDanTfacebook: Cre8tiveDanTPresident/CEO: GPA EDC

email: dtaylor25@me.com

Economic Development 101

Know your strengths

Important to take broad and focused approach

Are you market ready?

Creative / Innovation / Knowledge Economy/Network

Find Champions, Facilitate - Don’t “Do”- Connect Dots

The Prince Edward County Experience

The Peterborough Experiences

Know Your StrengthsDefine your community’s strength’s

Regionally and locally

Stats & Data, feet on the street, look around

Community Strengths, Business Strengths/Clusters

Pick them / Define Them / Develop Them / Sell

Easy to understand / Easy to Sell / Easy to Buy

Be Broad and Be Focused

It is important to serve the broader interests of the community

Limited resources, fierce competition

Can’t be all things to all people - recipe for failure

Focus on your top strengths (focused), win...then expand (broader)

Are You Market ReadyWhat is Market Readiness?

USP - Unique Selling Proposition - Define your Economic Development Product

Develop “Products”

Easy to understand / Easy to Sell / Easy to Buy

Web - PR - New Media - Trade Shows

Creative Economy3 phases of economic growth

Agriculture, Industry, Creativity/Innovation

Creativity/Innovation/Knowledge is adding value and is where the growth opportunity is

Need to make sure you are competitive - getting your fare share

http://cre8tivedant.com/2012/01/08/creative-class-market-share-are-you-getting-yours/

Network Creative Minds, Creative Cocktail

Back ChampionsChampions drive the economy

Support them

Facilitate an environment to encourage them

They do the work not LED

LED does a lot of facilitation, promotion work, support, packaging work

Prince Edward County

Municipal Economic Development - reports to council

Municipally funded (core), special project funded - multiple sources of grants

Strengths Agriculture, Tourism, Quality of Place

Evolved from broad to focused

Prince Edward County

4 Pillars (Ag, Tourism, ACH, C&I)

5 Clusters (Creative Talent, Creative Industries, Gastronomy, Green, Health)

Market Readiness - Defined who we were, evolved from AG & Tourism to Creative Economy

http://www.buildanewlife.ca/site/

http://princeedwardcounty.biz/

Extra ExperiencesMarket Ready

•Tourism Promotion Partnerships

•Events - Agri-Tourism

1. http://www.mapleinthecounty.ca/

2. http://www.tastecelebration.ca/

3. http://tastetrail.ca/

4. http://artstrail.ca/

Peterborough

Regional Economic Development Corporation - County / City

Regionally funded (core), special project funded - multiple sources of grants - many grants stretched focus. Project oriented not as strategic as we could be

Strengths Small City, Proximity to Markets, Post Secondary, Quality of Place, Labour Force

Peterborough

4 Pillars (Ag & Rural, Tourism, Small Business & Manufacturing, Innovation - Academia)

Clusters (Fire, Water, Air, Earth)

Market Readiness - Defining who we are, tighter focus. Positioning. Creativity & Innovation Leading on the Edge (City)

http://www.peterboroughcanada.com/

http://thekawarthas.ca/

Lessons Learned

Get Market Ready - Prepare / Package

Be Focused

Tell stories - Media is your best friend - PR

Develop Product

Easy to understand, easy to sell, easy to buy

It worked! I expect it to work again

HighlightsOntario’s Best Kept Secret - Now Worst Kept :)!

Clearly Defined Market Readiness / Investment Product

Huge PR Coverage

Tourism up 400%! < 10 years $24M - $100M

0-38 Wineries < 10 years 0-$60M-$100M

Leveraged to become Creative Rural Economy

10% - 20% - 30%

Economic Development takes time 3-5-10 years

Thank-you!