Business Retention and Expansion Study for Collingwood's Industrial/Employment Sector

Final Report - September 2006

Introduction
Overall Findings
Methodology

Executive Summary

As the economy within the Town of Collingwood continues to face change, it is imperative that Municipal Government and the Economic Development Office work to assist local businesses to grow and prosper.

In support of this philosophy, in April 2006, Collingwood Town Council gave direction to the Economic Development Office to initiate a Business Retention and Expansion Study for the Manufacturing Sector. Financial support for this initiative was acquired in part by the Grey-Bruce-Perth-Huron-Georgian Triangle Training Board and the Province of Ontario.

A 36 page questionnaire was completed confidentially by each industry and the results are presented on the following pages in percentage format. Lead volunteers met independently with 24 Collingwood Manufacturers, representing the Industrial/Employment Sector, between June and August of 2006

The information and data realized from the Industrial/Employment Sector is invaluable in defining municipal efforts to improve Collingwood’s economic sustainability.

The Study findings indicated that this sector injects in excess of $41,000,000 annually back into the community through employment dollars. Additionally, 80% of employees live within the Town of Collingwood.

Additionally, the findings have identified that the subsequent steps initiated by the Economic Development Office include but are not limited to the following:

• Establishing a Collingwood Manufacturers Association and initiate meeting agenda and schedules.

• A Skills Gap Analysis in conjunction with Georgian College, the Centre for Economic Development and the Bruce-Grey-Huron-Perth-Georgian Triangle Training Board to identify immediate and future needs within this sector.

• An Industrial Land Needs Assessment Study, to ensure Collingwood maintains an adequate supply of “market ready” industrial/employment lands – in the right location. This Study must incorporate Provincial Legislation relative to current and future employment needs and projections within Collingwood.

• Increase corporate calling by the Economic Development Officer to all large and small manufacturers within the Industrial/Employment Sector.

• Develop a Competitive Base Analysis for Collingwood for investment purposes.

Overall, the findings of the Business Retention and Expansion Study have identified a number of economic community indicators that will act as benchmarks for further research.

Forward

The Economic Development initiatives implemented at the municipal level hold the key to the successful revitalization of Collingwood’s economy. Furthermore, efforts designed to help the local municipal decision makers including politicians and administrators gain a better understanding of local business needs, should serve as a key component of all local Economic Development studies and programmes.

Economic Development activities that focus solely on attracting new businesses often yield insufficient returns for the investment. Efforts to retain and expand existing businesses can aid in stabilizing a community's economic base and create an environment conducive to attracting business. Another component of local Economic Development activity is the promotion of businesses.

Studies have supported that expansion from local businesses create new employment, with 85% of growth coming from within. The same studies also reveal that from 60 to 80% of all new employment is generated from the expansion of existing businesses, and the creation of new, small businesses.

Therefore, the retention and prosperity of existing businesses is extremely vital to the economic sustainability and growth of any community.

The resultant data from the Business Retention and Expansion Study serves as the foundation for planning and implementing sound Economic Development strategies in the Collingwood community now and in the future.

Catherine Durrant, AMCT, Ec.D. (F)
Economic Development Officer,
Town of Collingwood

Acknowledgements

The 2006 Town of Collingwood Business Retention and Expansion Study (BR+E) for the Industrial/Employment sector was conducted through the joint sponsorship and sustained support of:

The Town of Collingwood
The Grey-Bruce-/Huronia-Perth-Georgian Triangle Training Board
The Province of Ontario

This project would not have been successful without them. Their efforts are greatly appreciated.

This study could not have been accomplished without the cooperation, expertise advice, assistance and support of a variety of individuals. Special gratitude is extended to all those participating as members of the Town of Collingwood BR+E Volunteer Leadership Task Force consisting of:

Task Force:

Patricia Miscampbell
James G. Quirk
William Sloan
Barbara Weider
Jim West

Project Manager:
Catherine Durrant, Economic Developer

A special thank you is extended to those firms participating in the Study and who shall remain anonymous in accordance with the confidentiality agreements the Department signed with them. Without their time and candid responses, this project would not have been possible.

Lastly, this report has been completed in-house as a result of the dedication of our volunteer Task Force, the Project Manager and other related resources.