Transcript Slide 1

BUILDING SUCCESS FOR LONDON
London Economic Development
Corporation
Chamber of Commerce
February 15th, 2008
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
London Economic
Development Corporation
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What is the LEDC?
What is the “New” Strategy?
Our Key Activities
Vision
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
The LEDC
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Private/public partnership
Incorporated in 1998
Contracted to provide
economic development
services to City
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
What is Economic
Development
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Attraction – attracting new business to the City
Retention – Retaining and expanding the
business our current businesses
Organic Growth – Help to Foster an
environment to Grow companies through the
key stages
Entrepreneurship – Make it easier for new
companies to Start in the City
Economic Development is also in the information
servicing business. Providing the information
that allows companies to assess and select
London as a site for business.
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Strong Board Representing
London
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Dr. Paul Davenport – UWO
Dr. Carol Stephenson – Ivey
Dr. Howard Rundle –
Fanshawe College
Diane Beattie – LHSC/St.
Joseph’s
Denis Crane – County
Heritage
Mayor Anne Marie DeCiccoBest
Marvin Devries – Trojan
Technologies
Keith Gibbons – McCormick
Canada
Gerry Macartney – Chamber
of Commerce
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Dr. Mohan Mathur – past
Dean UWO Engineering
Dr. Robert Colcleugh –
Plastic Surgeon
Dr. Cecil Rorabeck –
Orthopedic Surgeon
Bernie Zaifman – Z-Group
Neil Warma – past President
Viron Therapeutics
Brian Semkowski –
Southwest Sun Group inc.
Jeff Fielding – CAO London
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
LEDC “New Strategy”
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In any good Financial plan, no investment
manager would put you in all Bonds, nor
would they put you in all speculative stocks.
Instead they would design a Balanced
Portfolio to maximize return and minimize
Risk!
That is the same economic plan we work with
for London!
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
London Strategy
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Market London as a city to work, live, and grow
Make London available to all, but Market to
our Strengths
“London” is First, agency is second
Working together as a team – Tech Alliance,
Stiller Centre, Small Business Centre,
Bring together all of the groups - Tourism,
Chamber of Commerce, Convention Centre,
LSTAR, City Hall, etc.
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
LEDC Mission/Vision Statement
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To be the lead organization
that builds relationships with
all interested
parties/companies with
businesses already in or
considering coming to
London. LEDC’s mission is
to help and address all
interested parties needs, but
to concentrate our marketing
efforts and target the six core
strengths that London has a
sustainable competitive
advantage in today.
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
London’s Segment Advantage
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Advanced Manufacturing
Life Sciences and Research (Stiller, Robarts,
Lawson, UWO, NRC)
Technology (both IT and Manufacturing
Technologies)
Institutional/Education (University, Colleges,
Hospitals, Research)
Regional Head Office (London Life, TD, AXA, PW
Bank)
Agri/Food Business
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Economic
Developement
Advanced
MFG
Life
Sciences
Technology
Institution/
Education
Regional /
Head Office
Agri – Food
Attraction
2 Companies
200 plus Jobs
1 Company
10 plus Jobs
1 I.T. Company
10 plus jobs
1 Manufacturing
Technology Co.
10 plus jobs
Have identified
a 10
opportunity
prospect list
2 companies with
50 to 150
employees
$10 Million of
Foreign
Investment
3 year goal of
Education
Facility for Core
Gov’t meetings
Cleveland Clinic
Strategy
Retention
A touch more
companies
strategy. Hire 1
more person. Get
inventory and
measurement
metrics
< 1% churn of
companies in
this space
Get an inventory
of all companies
in space. Work
with Tech
Alliance and
touch all 400+
>1% Churn
Create an
inventory of
Doc’s. Meet with
Specialty
colleges and
Training
Institutions
0% Churn
<1% Churn
Organic Growth
Strategic
education of
workforce
Move 1
company from
Robarts or
Lawson to own
facility.
-Graduate 1
company from
stiller 40 Jobs
Shoot for a3%
growth in # of
Companies
5% growth in
Employees
Revenue growth
of 7%
How to Measure
Produce Edu
plan for
downtown Core.
Information
Gathering on
what and why
London
London
Business Case
for privatized
health
2-4% Emp. Grow
Take 1 company
and find a
government
program. Help them
Double in size.
Build a
candidate list
to market to.
Business plan
production and
help system
-Business plan
vetting process
Mentoring
program
-3companies
past the plan
stage
20 plans Vetted
Business plan
production and
help system
-Business plan
vetting process
Mentoring
program
Business plan
production and
help system
-Business plan
vetting process
Mentoring
program
Need a contact
Management
System
Entrepreneurship
Work with school
boards
Data Base of
Companies
Business plan
production and
help system
-Business plan
vetting process
Mentoring program
2 companies past
the plan stage
10 companies
Started
Develop a database
of Companies
10 plans vetted with
5 started
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Keys to Success
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City of London Plan/Region Plan
Well Thought and Attainable Goals
Great Communication with all interested
Parties. (City, Partners( SBC, Tech
Alliance, Stiller), Chamber, Business
Groups, Etc.)
Strong Team, Strong Board, Strong
Advantages, Strong Message
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
2007 Achievements
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Attraction – 165 jobs, $66 million invested
Assessment - > $2.0 million increase
Expansion – 550 jobs, $40 million invested
Assessment - > $700,000 increase
Province Leading workforce and business
initiatives
Technology and Life Sciences growth programs
Incubation of leading edge technologies
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
2008 Achievements
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Hanwha L&C – Global Fortune 500
5 Largest Korean conglomerate with over 9 divisions
and 30 Billion in revenue
Phase 1 – $70 million investment – largest industrial
investment in Ontario since Toyota – 150 jobs
Phase 2 – 100 additional jobs
Many other opportunities as London will be their
Northern industrial and headquarter campus
Libro Financial – expansion in downtown London
AV Base – doubled in size in the past year
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Key Initiatives - 2008
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New web programs and chat board
New marketing strategies – electronic
Retaining and expanding our existing base
Digital gaming media conference
Asia marketing program
Planes ,Trains, Automobiles and So Much
More !
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Key Initiatives - Web
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Chat Boards will be implemented March 15th
Re-work of all web sites and Meta-tags
Update of database and linking program
Web based marketing – banner and link
Cost Per Click Program
Web 2.0 programs- use for support
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Key Initiatives - Marketing
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Print is becoming less relevant quickly
Buyers guides, directories and industry
overview items are becoming obsolete
Brochures must be simplified -linked with web
New radio campaign in GTA
PR Campaigns to Raise London Profile
New initiatives focused on external clients
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Key Initiatives - Retention
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Both expansion and retaining companies
Working more effectively with business to
address concerns on city policy – DCs, water
Dealing with industry specifically – US market
conditions, high dollar, Big 3
US Branch Office accounting effects
Linking more companies together
Ensuring we have the 21st Century Tools
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Key Initiatives – Digital
Gaming
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Largest cluster of digital gaming in Ontario
Design competition, retail gaming and awards
Convention Centre Nov.27, 28
Focus on gaming in Ontario
Government support for MEDT and R&I
Raise London profile with various groups
Attract talent for continued expansion
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Key Initiatives – Asia
Marketing
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Success with Korea
Specific program to leverage Canadian
opportunities with more companies
Two new Ontario China offices open
Great support from MEDT due to our success
Translation and web sites in Korean and
Chinese
Programs also focused on investment
attraction – keep our companies strong
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Long Term Strategies
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Growth of Technology sector
Medical Device Cluster and Institute
Agri-food initiatives
London- SWO transportation logistics hub
Regional Head Office Attraction
Strengthening of London Core
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Long Term Strategies - Technology
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Need for web technology start-up incubator
Ensure we are keeping talent
Enroll and engage more students
Use natural UWO/Fanshawe Tech advantage
IP and Technology Transfer
Stiller Centre and Research Park
Continue to raise our profile
“Cool Factor”
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Long Term Strategies – Life Sciences
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Institute for Medical devices - Techalliance
Build on London’s groundbreaking research
Over 20 companies established
Work to build more IP and license transfer
Use London’s natural advantage
Combine bio-tech, surface science and
medical devices
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Long Term Strategies – Agri-Food
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Regional Strategy – 85% of Ont. Milk quota will be
produced in seven counties
London is a hub of current food production
Ethnic food is fastest growing segment
London is processor – region is natural supplier
Bio fuel and bio-energy opportunities
OMAFRA is focused on providing more food
production in the province
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Long Term Strategies – SWO
Transportation Infrastructure
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London is the centre point of the SWO hub
Inter-modal terminal
High-Speed Rail link
Commercial Only Border crossing
24 hour airport access in London, Windsor and
Sarnia
401-402 Expansion
Capability to twin Highway 7
Need to focus as one voice for region
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
Long Term Strategies – Strengthen Core
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Prof. Richard Florida – the creative class
700K sq. ft of office space in core
More people downtown will enhance LDBA
Challenge of Parking, Grocery
Performing Arts Centre / Technical University
Financial Services and Regional Head Office
Key to growth of London to next level
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428
London Potential
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One generation plants the trees; the
next gets the shade
LEDC – 380 Wellington Street Suite 701, London, Ontario, Canada
www.ledc.com 1 800 327-2428