Business Retention and Expansion Study for Collingwood's Knowledge Base Sector

Introduction

BACKGROUND

Early in 2007, the Office of Economic Development approached sixty (60) knowledge based Collingwood businesses to gather information on the state of the businesses themselves, as well as their perceptions of the community.

Some businesses declined to participate after reviewing the questionnaire, taking the position their information was of limited benefit to the process. Others declined because they could ill afford time to complete the survey task. Eventually, 50% of those approached agreed to meet and complete the Business Retention and Expansion Survey.

Of significance is the identification by 43 percent of respondents on the skill shortages in Collingwood as a major factor inhibiting our community’s economic prosperity and growth. Specifically, the Knowledge Base Sector survey identified on-going difficulty in the attraction of mid-level professionals to the Collingwood community.

Skill shortage is widespread. The survey respondents were nearly unanimous in their evaluation of the local area workforce. They identified a gap in both the availability of an adequately trained workforce and the availability of adequate academic and technical training at the local level.

As a separate issue, some businesses identified challenges associated with retaining mid to senior professionals because of deficiencies in professional, cultural and social amenities. This has resulted in some employees leaving businesses for a return to communities providing a broader range of social amenities and cultural opportunities.

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