1 (Ford Fellowship in Regionalism and Sustainable Development)Regional Context & Priorities January 15, 2007 (Ford Fellowship in Regionalism and Sustainable Development)
2 Agenda About Our Chamber Regional Economic ContextRegional Public Policy and Political Challenges Our Chamber’s Regional Priorities
3 About Our Chamber Membership By Size 1894 members 16 staff$1.9 million operating budget 22 board members Driving Productivity and Prosperity in Waterloo Region since 1886
4 Our Vision The Greater Kitchener Waterloo Chamber of Commerce is a business association of economic development champions. As the voice of business for the Greater Kitchener Waterloo area, the Chamber is a strong advocate for continued development of our community and a partner for prosperity. By working together and focusing on initiatives that support growth, members use the services of the Chamber as an important catalyst for their business success. Recognized as a leader in one of Canada’s most forward-thinking business communities, the Greater Kitchener Waterloo Chamber of Commerce strives to be the best Chamber of Commerce in Canada.
5 Selected Member CompaniesManulife Financial Sun Life Financial Research In Motion ATS Automation Tooling Systems Budd Canada Maple Leaf / Schneider Foods Home Hardware CBCL Outsourcing Challenger Motor Freight UW / WLU / Conestoga College Unique Aspects of our Chamber Largest accredited chamber in Ontario Best networking organization in Region 2006 Two successful chamber mergers in last 15 years 2006 Ontario Business Achievement Award for Export Development Recognized Provincially and Nationally for Community/Next Generation Leadership Competitors of our Chamber Cdn Federation of Independent Business Communitech Technology Association Cambridge Chamber of Commerce Rotary Clubs
6 Waterloo Region: Canada’s Technology TrianglePopulation CTT: 508,000 SWO: 2.3 million GGH: 7.8 million Driving 90 min west of Toronto 90 min north west of Buffalo 2.5 hrs north east of Detroit Northwest Airlines makes 3 flights daily from KW to Detroit
7
8 Regional Economic/Demographic ContextCanada’s 10th largest and Ontario’s 4th largest urban area Regional GDP of $19.4 billion (2004) 508,000 people (Regional Municipality of Waterloo 2006) Population growth of 8.2% ( StatsCan) Planning for 255,000 more people and 158,000 more jobs by 2031 Work force of 270,000 (July 2005 HRSDC) / 26% employed in manufacturing Net inflow of 29,462 skilled and talented people ( StatsCan) 3rd youngest median age (35yrs) of major urban areas (2001 StatsCan) 5.4% unemployment rate (StatsCan 2006 Annual Average) Median income $29,800 - ranking third among Canadian CMAs (2003)
9 Ethnically Diverse PopulationEthnic Origin Persons Canadian 138,160 English 108,090 German 103,615 Scottish 74,795 Irish 70,080 French 39,135 Polish 19,130 Dutch 17,905 Portuguese 17,270 Italian 11,695 Visible Minority Total Population South Asian 11,195 Black 7,345 Chinese 5,895 Southeast Asian 5,450 Latin American 4,855 Arab and West Asian 3,545 Other Visible Minority 2,850 Korean 1,135 Filipino 1,050 Japanese 460 Total 43,770
10 Global / Export - Oriented Economy$12 Billion Goods Exported (2004) Major markets: US, UK, China, Germany and Japan $50,000 product exports per employee compared to $31,000 for Ontario (2004) Waterloo Region exports are greater than that of five provinces More Than 240 Foreign-Owned Firms Major sources of foreign investment: US, Germany, UK, France, Japan and The Netherlands
11 Diverse Economy
12 Leading Clusters by Share of Traded Cluster EmploymentShare in Region Cdn Location Quotient North American Location Quotient Automotive 10,993 5.5% 3.7 4.69 Education 9,789 4.9% 1.85 2.31 Business Services 8,616 4.3% 0.87 0.95 Metal Manufacturing 8,296 4.2% 3.28 3.41 Financial Services 7,057 3.6% 0.77 1.11 Processed Food 5,947 3.0% 2.05 2.37 Production Technology 4,827 2.4% 3.96 4.17 Heavy Construction 3,281 1.7% 0.97 Building Fixtures, Equipment & Services 2,459 1.2% 1.44 2.01 Transportation & Logistics 2,655 1.3% 0.66 0.88 The location quotient is a measure of the industry’s level of concentration within a location, with an lQ > 1 indicating higher than avg concentration in that location in 2002
13 A Few of the Region’s Distinctive ProductsLeading-Edge Handheld Wireless Technology Luxury SUVs TMMC Toyota Motor Manufacturing Canada RIM Research In Motion
14 A Few of the Region’s Distinctive ProductsComponents for Space Exploration Next Generation Solar Power Panels Photowatt / Spheral Solar Power (ATS) COM DEV International
15 A Few of the Region’s Distinctive ProductsAmphibious Vehicles Quality Delicatessen Meats ODG Ontario Drive & Gear Schneiders Foods
16 A Few of the Region’s Distinctive ProductsHigh Resolution Digital Projectors (CP2000) Contract Pharmaceutical Research Orbus Pharma Christie
17 A Few of the Region’s Distinctive ProductsBiologicals for Agriculture Stunningly Designed Office Furniture AgriBiotics (Merck KGaA) Krug
18 A Few of the Region’s Distinctive ProductsComponents for Landing Gear Insurance Manulife Financial Héroux-Devtek
19 50,000 FT and 14,000 PT Post-secondary StudentsUniversity of Waterloo “Best Overall” and “Most Innovative” in Canada World’s Largest in Cooperative Education Canada’s Largest Engineering School Largest Mathematics Faculty in the world Wilfrid Laurier University A leading Undergraduate University in Ontario One of Canada’s Largest Business Schools Canada’s Largest Business Co-op Program Specialties in Logistics, Science and Music University of Guelph A Leading Research-Intensive Comprehensive University Strengths in Agri-Science, Veterinary and Environmental Studies Conestoga College ITAL Ontario’s #1 Ranked College Offering Applied Degrees, Diplomas, Apprenticeship, Part- time and Customized Training Focus on Engineering Technology, IT, Business, Health Sciences, Media and Skilled Trades
20 Home to Think Tanks with Global AmbitionPerimeter Institute for Theoretical Physics, The Centre for International Governance Innovation (CIGI), and The Academic Council on the United Nations System (ACUNS) 150 Research Centres
21 Innovative Private Sector ResearchPrivate Sector Investment in Research $277 M in private R&D in 2002, of which Manufacturing: $162 M Services: $108 M An 82% increase from 1995 Major Sectors Undertaking R&D Computer System Design Industry: $79 M Machinery Industry: $28 M Source: 2004 Community Benchmarks
22 Local Firms Provide High Value For ShareholdersCanada Invested Venture Ratio Waterloo Region 7.02 Ontario 5.13 Quebec 1.54 5.43 United States California 5.14 Massachusetts 4.47 New York 2.81 Texas 2.87 With an IVR of 7.02, the regions’ IT sector is clearly a performance leader among the major technology regions in North America Comparable IVR Data determined by Greenhouse Study by dividing the value of Waterloo Region tech company exits from by the amount of equity invested in tech companies from
23 Editorial Cartoon, The Record, October 1, 2005.The Record, September 1, 2005. Editorial Cartoon, The Record, October 1, 2005.
24 Diverse, Fast-growing, Entrepreneurial and InnovativeWaterloo Region is: Diverse, Fast-growing, Entrepreneurial and Innovative
25 Regional Public Policy / Political ChallengesManaging Growth Transportation Water Supply / Quality Physicians / Health Care Employment Lands Competing for talent, investment and jobs world-wide Integrating immigrants Keeping/attracting the next generation Making Waterloo Region a really cool place: Arts & Culture Development Governance and Better Service Delivery Emergency response times Water quality
26
27
28 Competing for talent, investment and jobs world-wideIntegrating immigrants 1 in 5 regional residents are foreign born 14% unemployment versus 5% for Canadian-born residents Keeping/attracting the next generation 80% of graduates find careers outside region Employment vacancies taking longer to fill Physician Shortages Making Waterloo Region a really cool place Fragmented arts and culture infrastructure Limited financial sustainability in the arts
29 Governance and Better Service DeliveryEight governments for 500,000 people Overlapping jurisdictions & service responsibilities Regional Growth Management Strategy Expansion of Employment Lands Emergency Response Times Water Supply and Quality Light Rapid Transit Proposal
30 Our Chamber’s Regional EffortsProsperity Council Waterloo Region Immigrant Employment Network Chamber Health Care Recruitment Council
31 Prosperity Council Key Partners: Cambridge Chamber of Commerce, Communitech Technology Association, CTT Inc. Major Challenges: Collaborating with competitors; navigating multiple municipal jurisdictions; operating sustainability Major Successes: Joint Advocacy resulting in: Proposed 300 net new acres of employment land New investment in physician recruitment and provincial capital investment Entrepreneurship Hall of Fame
32 Waterloo Region Immigrant Employment NetworkKey Partners: Community foundations, Prosperity partners, Immigrants, Settlement organizations, Governments, Educational institutions Major Challenges: Collaborating with multiple stakeholders; Engaging employers Major Successes: Launch of network
33 Chamber Health Care Recruitment CouncilKey Partners: Hospitals, Corporations, Municipalities, Post-secondary institutions, Physicians Major Challenges: Continued Shortages (~40), other healthcare fundraising campaigns, recognition of foreign-trained credentials, competing jurisdictions Major Successes: Regained Underserviced Area Designation allowing financial incentives Recruited 94 physicians in past 9 years (6 in 2006) Recruited six corporate investors in 2006
34