It’s being touted as the largest economic development study of its kind and now Wellington County has released the findings of its business retention and expansion study, including 270 interviews with businesses conducted over a nine-month period.
The study findings were released by county economic development officer Jana Reichert on April 4 at a reception at the county museum and archives in Aboyne.
The report, Reichert says, gives the county an overall picture of the economic climate that exists and, “an understanding what our competitive advantages are.”
The interviews were conducted with businesses in the agriculture, manufacturing, health care and creative economy sectors.
“The Wellington Business Retention and Expansion project (BR+E) is unique in Ontario given its scale, sectors interviewed and geography covered,” Reichert said.
“We look forward to implementing many innovative projects to benefit the local economy defined by the suggestions and needs of our businesses.”
“We collected a huge amount of information on who our local industries are, what they’re doing and what they’re planning on doing,” Reichert told the Advertiser.
“This process enabled us to sit down with our business owners and listen to their story and why in particular it’s advantageous for them to be doing what they’re doing in Wellington County. We did this 270 times and hence, started collecting themes and understanding our competitive advantages, stemming directly from those already invested in our communities.
“We weren’t just collecting a great deal of valuable data, we were collecting sentiments and we were building relationships.”
The county was given a 77 per cent rating by the businesses interviewed as a good or excellent place to do business, while 23 per cent rated the county as poor or fair.
The study also found 76% of all new jobs and capital investment come from existing businesses.
The quality of life in the county received the highest rating at 88% and included high scores for fire and police services, community support, snow removal and conditions of regional and provincial highways.
According to Reichert, 48% of businesses predict no growth in the near future, while 43% plan to expand. Overall industry growth is expected by 52% and 58% project increased sales in the next year.
The factors outlined by those in the manufacturing sector that could curtail growth include a lack of commercial/ industrial space for small and medium-sized businesses, a need for assistance training for international growth, a lack of transportation for workers, and misconceptions about career opportunities within skilled trades.
Reichert said addressing career opportunities could include educating high school students about what skilled trades have to offer in terms of wages and advancement.
Having access to workers was a common concern raised in the four business sectors.
Those interviewed from the agricultural sector expressed concern about the availability of qualified workers. That concern was expressed by 47% in agriculture, 46% in manufacturing, 40% in health care and 35% in creative economy.
Other common concerns identified in the study include a lack of affordable housing, public transportation and child care and financing options beyond traditional banking.
County councillor and chair of the economic development committee George Bridge said council has committed $175,000 – $25,000 to each of the seven lower tier municipalities – for economic development ventures at the local level.
He lauded the report and its findings.
“We have a great opportunity to market ourselves out of this,” Bridge said of the report.
Warden Chris White said, “Businesses and the jobs they create form the basis of all strong economies.
“County council recognizes that supporting the businesses that have already invested in Wellington provides the greatest return for future growth.”
The report and cross-county efforts to put it together was also lauded by local MPPs Ted Arnott, Randy Pettapiece and Liz Sandals.
“The county has some great information on which to focus its economic development efforts going forward,” said Reichert.
The county is expected to launch its new economic development webpage within the next two months.
