halifax economic strategy 2012

YEAR 1 RESULTS May 24, 2012

Kim Mason

Regional President, Atlantic Canada, RBC Royal Bank

Strategy Goals

Regional Centre - Build a vibrant and attractive regional centre that attracts $1.5 billion of private investment and 8,000 more residents by 2016.

Business Climate - Promote a business climate that drives and sustains growth by improving competitiveness and by leveraging our strengths.

Talent - Create a welcoming community where the world’s talent can find great opportunities, engaged employers and resources for career advancement.

International Brand - Create a unique, international city brand for Halifax.

Maximize on Opportunities - Capitalize on our best opportunities for economic growth.

3

Values and Principles

VALUES: Partnership and alignment Sustainable development means preserving our environment

and building our economy Great communities have lots of social capital Sustainable growth is good PRINCIPLES: People are our future Productivity and innovation are the foundation of successful

regions International focus Serve people better, move faster Building business confidence builds communities

What does success look like?

• More business, more people • Larger labour force responsive to business requirements • Sustainable economic growth/activity (GDP) • Higher average income • Cost competitive and a contagious business environment • Confident business and proud people • A more attractive and vibrant Regional Centre • An increase in tax revenue for all three levels of government

INTERNATIONAL BRAND ACTION TEAM

Peter Spurway Vice President Corporate Communications, Concession Development Airport Experience Halifax International Airport Authority

INTERNATIONAL BRAND ACTION TEAM PROGRESS TO DATE

• A committed and engaged Action Team

• Background research completed by Action Team comprised of Halifax branding organizations and marketing specialists. Research included:

o A compilation of existing Halifax brand research, including an assessment of existing stakeholders;

o A review of branding best practices;

o A comprehensive list of Halifax’s functional and emotional benefits;

o Definitions of target audiences;

o Preparation for an RFP.


What makes a good place brand? Why does Halifax need to create a powerful brand?


YEAR 2: What’s Next? • Secure resources to fully fund an RFP for brand development and benchmarking.

• Build a team of ‘Ambassadors’ that promote the city’s new international brand.

• Encourage all residents to live the brand!

BUSINESS CLIMATE ACTION TEAM

Laura Charlton Vice-President, Nova Scotia District, Bank of Montreal

BUSINESS CLIMATE ACTION TEAM PROGRESS TO DATE • Decision taken to form Action Team on an issue-by-issue basis.

• Commercial tax and locations study underway to study the impact of commercial taxation on the sustainability of urban core businesses.

• Chamber Roundtable on Taxation is ongoing.

• Provincial capital tax eliminated as of July 1st, 2012.

BUSINESS CLIMATE ACTION TEAM

What does a good business climate look like? How can Halifax achieve it?

BUSINESS CLIMATE ACTION TEAM YEAR 2: What’s Next? • Halifax Chamber Roundtable process is expected to provide strong direction on

priority areas.

• Implement recommendations of the Commercial Tax and Location Decisions study.

• Complete discussion paper on municipal commercial taxation and communicate findings.

• Develop a strategy to address gaps in general tax competitiveness.

• Provide clarity on the top issues identified through the Partnership’s SmartBusiness program to eliminate unnecessary regulatory burden on business.

TALENT ACTION TEAM

Malcolm Fraser CEO at ISL web marketing and development

TALENT ACTION TEAM

PROGRESS TO DATE • Greater Halifax Partnership Connector program expanded from an immigrant focused program to include young and emerging talent. • Nova Scotia Workforce Strategy announced to address a shrinking workforce and to help Nova Scotians acquire the right skills for good jobs. • Provincial retention of immigrants has improved significantly. • Issues defined:

• Foreign credential recognition. • Creating a welcoming community. • Improving the human resource competitive advantage in small and medium-sized enterprises (SMEs.)

TALENT ACTION TEAM

What does a welcoming community look like? How can Halifax foster the kind of community that attracts and retains talent?

TALENT ACTION TEAM

YEAR 2: What’s Next? • Make Halifax a more welcoming community;

• Define and develop a “welcoming” pilot project; • Foreign student retention; • Immigrant retention;

• Start addressing SME HR practice development

REGIONAL CENTRE ACTION TEAM

Andy Fillmore Manager of Urban Design, Halifax Regional Municipality Vice President, Council for Canadian Urbanism


PROGRESS TO DATE • Strategic Urban Partnership (SUP) formed and meeting regularly, delivering

outcomes, preparing to hire a full-time cost-shared project manager.

• Regional Plan 5 Year Review (RP+5) commenced, completion by March 2013. Will rebalance growth targets to focus on Regional Centre.

• HRMbyDesign “Centre Plan” for the whole Regional Centre commenced, with phase 1 completion by October 2012 and overall completion by 2015. Will incentivize major urban densification by removing barriers to development.

• HRMbyDesign Downtown Halifax Plan is working. 7 major projects approved with 4 under construction and 3 on Barrington Street. Also, Waterside and YMCA proceeding, Trade Centre following soon.


New Office Space 2008-2011 (Source: CBRE)

New Residential Units 2006-2011 (Source: CMHC)


Purpose: • Create “complete” and

walkable neighbourhoods.

• Focus growth and change to commercial corridors and opportunity sites.

• Use density bonusing to provide housing affordability and streetscape improvements

• Promote investment and densification through improved, expedited development processes.


How will density bonusing help to overcome the challenges of Regional Centre development?


YEAR 2: What’s Next? • Update the Regional Plan to better position the Regional Centre

for long term prosperity and sustainability.

• Implement the HRMbyDesign Centre Plan to capture a much greater share of regional growth.

• Make needed changes to provincial legislation to allow density

bonusing and other important measures to advance sustainable and affordable development in the Regional Centre.

MAXIMIZE GROWTH OPPORTUNITIES

Paul Kent President and CEO, Greater Halifax Partnership


PROGRESS TO DATE • Successful “Ships Start Here” campaign to rally support for Irving bid. Economic impact analysis complete. • Identification of marine industries cluster as a major “next opportunity”. • First Halifax Index completed. • In-depth analysis of Strategy’s six growth sectors.

o Aerospace and Defence o Financial Services o Digital Industries and Information and Communications Technology (ICT) o Oceans o Transportation and Logistics o Life Sciences


How can Halifax use the “Ships Start Here” partnership model to maximize other growth opportunities?


YEAR 2: What’s Next? Shipbuilding – Leverage the opportunity, manage change. Halifax Index

• Create stronger economic and community research partnerships around • Halifax Index. • Strengthen, deepen and communicate findings.

Halifax Gateway • Logistics Park development. • Air Route development.

Competitive Intelligence – Research and act on opportunities and challenges. Furthering a culture of partnership and innovation surrounding major opportunities. This will be modeled after the Ships Start Here partnership and will first focus on marine industry cluster development.

Questions and Answers