Wellington County should concentrate economic development efforts on investment readiness, creating collaborative partnerships and getting the word out about what the county has to offer, according to a consultants report on local investment sectors.
Kelly O’Brien and John Tennant, of Global Investment Attraction Group, presented the results of a Wellington Sector Investment Profiles Study to county council at the Feb. 26 council meeting.
Wellington’s economic development officer, Jana Reichert, said a 50 per cent grant from the Ontario Ministry of Economic Development, Employment and Infrastructure assisted with the $60,000 cost of the study and the creation of the sector profiles.
The report provides a market assessment of Wellington and identifies sub-sectors that offer the best potential for investment attraction, whether domestically or internationally. The consultants were also asked to prepare a marketing plan to accompany their research and recommendations.
O’Brien pointed out the county has done some good work in the area of economic development recently, including an extensive Business Retention and Expansion Study dealing with existing business and industry.
“It’s a logical extension and next step to the work you’ve undertaken to attract investment from beyond the county,” she said.
Noting the area of investment attraction is “very competitive,” O’Brien said “There are some very good players, some strong players” vying for investment dollars. She said the county needs a “sensible, well-grounded marketing plan,” in order to compete.
The sector profile study indicated manufacturing and agriculture are strong sectors in the county, accounting for about one-third of jobs and 55 per cent of job growth in Wellington over the past five years.
Those sectors, she said, have “shown much better growth and recovery from the recession of 2008 and 2009 than many other regions in southwestern Ontario, and in Canada for the most part.”
O’Brien also said there has been high growth in what the study termed creative professional services and health care sector. The study indicated a growing number of county residents involved in such fields, even if they work outside the county.
“They may be living here but not necessarily working here,” said O’Brien, adding that means the lifestyle in Wellington, “is attractive to that sector.”
The study indicated growth opportunities exist in the agriculture area, particularly in oilseeds, grain and meat production, agricultural machinery manufacturing, and equine related businesses as well as animal health and agriculture and horticulture technology specialists.
Tennant noted Wellington is home to a “diverse and world-class equine sector” which is experiencing growth.
Tennant also noted that while Wellington County has 53 acres of “shovel ready” serviced industrial land, there are only three such sites of five acres or more.
He said there are a limited number of existing industrial buildings for sale or lease within the county.
Available office space, he added, is concentrated in main street areas, on second floors and often in heritage structures.
Tennant said the county should be proactive in terms of investment attraction in order to take advantage of growth areas such as specialty food and beverage companies, including micro-brewers, pet foods and equine-related businesses.
The county should also be ready to accommodate relocating manufactures looking to leave the Greater Toronto and Hamilton areas due to cost, congestion and their inability to expand in the cities.
The marketing plan, Tennant explained, boils down to three main areas: investment readiness, collaborative activity and developing relationships.
Investment readiness, he said, comes down to “the need to be completely prepared to respond fully and promptly to inquiries.
“It’s much better to have an investment prospect that doesn’t know anything about you, than one who has heard of you, but has formed a bad impression about you before they come here.”
Collaborative activity, he said, means creating marketing partnerships with like-minded groups.
“Some you might see as competitive, but there’s a great deal to be gained through cooperation.”
He also recommended making key intermediaries and partners on the front lines, that he termed a “key source” of potential leads, “more aware of county’s priorities and what it offers, while developing strong relationships with them.”
Those key partners, he suggested, should include federal and provincial employment, economic development and infrastructure ministries, as well as industrial and commercial realtors.
O’Brien said “sector sell sheets” for each municipality in Wellington are being prepared and should be ready in the next two weeks.
Councillor Gary Williamson asked if the marketing plan would address transportation issues, in particular “the aspect of getting employees to employers, specifically to the north end” of the county.
“We’re recommending in our report that it would be an area of worthwhile investment to look even more closely at patterns of workforce flows. Labour moves very extensively in the region,” said Tennant.
He added, “We’re beginning to identify where we can interrupt workers flowing to other areas and give them a job closer to home.”
Councillor Don McKay asked, “Everybody’s in this game … everyone is trying to attract people. What makes us unique?”
Tennant said relatively affordable sites, and a geographic location in the “Greater Golden Horseshoe” are among Wellington County’s advantages.
“You are proximate to a lot of people,” he stated.
However, Tennant noted, attracting investors requires “a very considerable mix of factors and this is why investment readiness is important.”
“I think we’re on the right track,” said Warden George Bridge. “I think Wellington County is in a good position and we want to continue to move forward.
“We can’t rest on our laurels.”
