STRATFORD ECONOMIC ENTERPRISE DEVELOPMENT CORPORATION (SEED CO.) ANNUAL REPORT YEAR IN REVIEW ADVANCING STRATFORD S ECONOMIC FUTURE

Transcription

1 STRATFORD ECONOMIC ENTERPRISE DEVELOPMENT CORPORATION (SEED CO.) ANNUAL REPORT 2016 YEAR IN REVIEW ADVANCING STRATFORD S ECONOMIC FUTURE

2 STRATFORD ECONOMIC ENTERPRISE DEVELOPMENT CORPORATION (SEED CO.) VISION: Stratford is Canada s leader in digitally enabled approaches for investment in arts, education and industry. MISSION: The Stratford Economic Enterprise Development Corporation (SEED Co.) advances the economic future of Stratford through excellence, creativity and collaborative leadership. Advancing Stratford s Economic Future

3 STRATFORD ECONOMIC ENTERPRISE DEVELOPMENT CORPORATION (SEED CO.) Annual General Meeting Thursday, September 7, 2017 investstratford, 6 Wellington Street Stratford, Ontario 7:30am-8:00am 2016 YEAR IN REVIEW AGENDA 7:25am 7:30am Arrival of Board Members Call to Order 1.0 Board Business Meeting Called to Order 3rd Annual General Meeting of the Stratford Economic Enterprise Development Corporation 2.0 Declarations of pecuniary interest and the general nature thereof 3.0 Adoption of the Minutes from 2015 AGM (held on June 7, 2016) 4.0 Director s Report on Auditor s Report and unaudited 2016 Financial Statements - Andre Morin 6.0 Confirmation and Appointment of Acts of Directors 7.0 Appointment of Auditors 8.0 Adjournment

4 Stratford Economic Enterprise Development Corporation (SEED Co.) 2015 Annual General Meeting Tuesday, June 7, :00 7:00 p.m. Stratford Country Club, 53 Romeo Street North, Stratford, Ontario Guest Speaker: Ray Tanguay, Auto Advisor to Canada and Ontario Ready to Compete MINUTES 1.0 Meeting Called to Order at 5:08 PM. 2.0 Declarations of pecuniary interest and the general nature thereof None to disclose. 3.0 Adoption of the Minutes from 2014 AGM (held on June 23, 2015) Moved by Jeff Orr, Director and seconded by Brad Beatty, Director That the Minutes of the Stratford Economic Development Corporation Annual General Meeting dated Tuesday, June 23, 2015 be adopted as printed. Carried. 4.0 Director s Report 2015 (presented by Mayor Mathieson) Moved by Franklin Famme, Director and seconded by Kevin Tuer, Director That the Director s Report be received as printed. Carried. 5.0 Chief Executive Officer s Report 2015 (presented by Marlene Coffey) Moved by Ginny Dybenko, Director and seconded by Stephen Cooper, Director That the Chief Executive Officer s Report be received. Carried. 6.0 Auditor s Report and unaudited 2015 Financial Statements (presented by Andre Morin) Moved by Franklin Famme, Director and seconded by Anne McDougall That the Auditor s Report be received as printed. Carried. 7.0 Confirmation and Appointment of Acts of Directors Moved by Anne McDougall, Director and seconded by George Brown, Director To re-elect Anita Gaffney as continuing President of the Stratford Economic Enterprise Development Corporation. To elect Kevin Tuer as Vice President of the Stratford Economic Enterprise Development Corporation. Carried. 8.0 Appointment of Auditors Moved by Dennis DesRosiers, Director and seconded by Ginny Dybenko, Director That the City of Stratford s auditor, Millards Chartered Accountants, be appointed as auditors for the Stratford Economic Enterprise Development Corporation for the fiscal year ending 31 December Carried. 9.0 Adjournment Meeting adjourned at 5:28 PM. Moved by George Brown, Director and seconded by Brad Beatty, Director That the business portion of the 2nd Annual General Meeting of the Stratford Economic Enterprise Development Corporation be adjourned; and, reconvene for the guest speaker presentation at 6:00pm. Carried.

5 Stratford Economic Enterprise Development Corporation (SEED Co.) branded in 2015 as investstratford, is principally funded by the City of Stratford, and has been established as a stand-alone entity with a mission to focus singularly on Stratford s economic future. SEED Co. has been positioned to be a creative and innovative collaborator with partners in the Stratford community and beyond. The Corporation, under the guidance of a board of directors, offers support services and business focused development events to Keep, Grow and Attract business. Board of Directors 2016 Anita Gaffney, Executive Director, Stratford Festival (SEED Co. Board President) Brad Beatty, Councillor, City of Stratford George Brown, Councillor, City of Stratford Stephen Cooper, Vice-President, MTE Consultants Inc. Dennis DesRosiers, President, DesRosiers Automotive Consultants Inc. Ginny Dybenko, Executive Director, University of Waterloo Stratford Campus Franklin Famme, Partner, Famme and Co. Rob Horne, Chief Administrative Officer, City of Stratford Dan Mathieson, Mayor, City of Stratford Anne McDougall, President, Rambri Management Jeff Orr, Owner/Account Executive, Orr Insurance & Investment Group Ron Shaw, Chief Administrative Officer, City of Stratford Kevin Tuer, Managing Director, Canada s Open Data Exchange, VP Strategic Initiatives, Communitech investstratford Team Joani Gerber, Chief Executive Officer Mike Pullen, Managing Director Elke Bidner, Special Projects Coordinator Holly Mortimer, Business Advisor, Stratford Perth Centre for Business Laura MacDougall, Business Advisor, Stratford Perth Centre for Business

6 2016 YEAR IN REVIEW August 2017 in 2016, investstratford continued to establish its reputation and role in Stratford as a comprehensive business concierge service dedicated to advancing start-up, growth, relocation and new investment in the City of Stratford. In early 2016, SEED Co. delivered upon the plan for full integration of the Stratford Perth Centre for Business which over the course of 2016 created 76 new small businesses and 135 new jobs also saw SEED Co. continue to leverage the City s investments in citywide broadband infrastructure in order to attract, retain and expand businesses. Wide reaching media coverage from print, television and social media platforms further established Stratford s reputation as The Connected Capital of Canada and the team leveraged that reputation and begun planning a Connnected Car Initiative resulting in early partnership discussions with APMA, WATcar and Renesas. In addition, major funding and new investment attraction yielded benefits including over $1M in industrial land sales. A new centralized office location with co-location space for businesses was leased and renovated to advance the business servicing ecosystem in Stratford. SEED Co. continues to manage an efficient budget and small operational team aligning to the strategies and visions for Stratford s economic future. Reporting to the SEED Co. Board monthly, Stratford City Council quarterly (and on an as needed basis), SEED Co. has steadily gained momentum. Major highlights for the 2016 operational year include: NEW OFFICE: Centrally located, modern office space improved the image and accessibility of the Corporation as well as opened the door for co-location opportunities. ONTARIO BUSINESS MISSION TO JAPAN: Mayor Mathieson travelled to Tokyo, Japan in November with the Premier and the Ministry of Economic Development & Growth SCHAEFFLER CANADA: In July, Schaeffler Canada announced a $13.1M expansion and reinvestment into the Community combined with a $1.3M grant from the Federal government. The investment resulted in 44 new jobs, the retention of 382 positions and addition of two assembly lines and the purchase of new equipment to increase automation, improve quality control and expand its production capabilities.

7 STRATFORD HD PROJECT: The Stratford HD project is an initiative undertaken on behalf of the Stratford Festival, which garnered funding for the digital production of performing arts from stage to screen. SEED Co. was awarded and helped administer the $3M Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Investing in Regional Diversification (IRD) funding in its first, second and, third and final year YEAR IN REVIEW LAND SALES: SEED Co. sold over $1M of industrial employment lands on behalf of the City of Stratford within the Wright Business Park (5.127 acres sold/8.69 acres in process). DIGITAL ENHANCEMENT PROJECT: The Corporation issued an RFP for a Digital Enhancement Project and selected FauxPop, a production company, to develop a series of videos profiling the investment ready sectors of Stratford ACTIVITIES, PROJECTS AND ONGOING FILES Relocated to modern new office in the heart of downtown in July 2016 Trillium Hatchery Inc., an Innovative New Agri-Business invested $20+M in Wright Business Park City Land sales of over $1M = acres sold/8.69 acres in process New Expanded Stratford Facility for South West Veterinary Services and Poultry Health Services in Wright Business Park GreenSeal Cannabis Company underway with building new facility in Wright Business Park Strong interest and activity continues in industrial land inquiries Schaeffler Canada Announces $13.1M Stratford Expansion Starwood Hotels & Resorts recruits virtual sales positions in Stratford Stratford HD Project, partnership with investstratford and the Federal Government continues to receive international profile on global film screens and TVs FIO Canada Automotive Corp., a subsidiary of Futaba Industrial Co. Ltd invested $50M to expand Stratford plant and invest in new stamping machinery Currently assisting 6+ local companies expand their operations 125+ small business assisted in 2016/17 (check with Holly s number) Began production of Digital Video Enhancement Project Web Site Phase II: new video series production began with anticipated 2017 completion Austrian delegation reception, September 2016 Business Process Review: Using the Lean hybrid approach, investstratford came together with the Departments of Infrastructure and Development Services and Corporate Services to examine ways to provide more efficient and better citizen-centered service to investors. Autonomous Car Project: The City of Stratford began receiving significant national media recognition and attention as a Connected and Smart City in Renesas Electronics Limited built a test track on the Festival Theatre parking lot that allowed for the testing of autonomous vehicle technology supported by the University of Waterloo s Centre for Automotive Research. The APMA and various connected auto tech partners continue to explore and advance potential initiatives and investments in the City.

8 ASSOCIATIONS AND MEMBERSHIPS: SEED Co. has been active in the following associations and organizations: Canadian Institute of Planners (CIP) Ontario Professional Planners Institute (OPPI) Economic Developers Council of Ontario (EDCO) Economic Development Association of Canada (EDAC) Stratford and District Chamber of Commerce Southwestern Ontario Marketing Alliance (SOMA) including: Ontario Clean Tech Alliance (OCTA) Ontario Food Cluster Group (OFC) Ontario Manufacturing Communities Alliance (OMCA) Ontario Real Estate Alliance South Central Ontario Region (SCOR) Centre for Automotive Research (CAR)/Automotive Communities Partnership (ACP) Automotive Parts Manufacturers Association (APMA) Canadian German Chamber of Industry and Commerce (CGCIC) Japan Society and Canadian Chamber of Commerce in Japan (CCCJ) VIA Roundtable Working Group Western Ontario Warden s Caucus (WOWC) ACTIVE PARTNERSHIPS: Automotive Parts Manufacturers Association (APMA) Stratford Perth Centre for Business Perth Community Futures Development Corporation Stratford Tourism Alliance Stratford City Centre BIA Stratford Festival (Festival HD Project) Perth County Town of St. Marys Four County Labour Marketing Planning Board Connect2SKILLS Steering Committee Labour Market Strategy Committee Ontario Centres of Excellence University of Waterloo National Research Council Federal Economic Development Agency for Southern Ontario (FedDev Ontario) Stratford Accelerator Centre UW Centre for Automotive Research Communitech 2016 YEAR IN REVIEW

9 2016 YEAR IN REVIEW Summary of Ongoing Activities: In 2016, selected clients of SEED Co. included ongoing development files with CR Plastics, Canada Bag Supplies, Contract Framing, Futaba Automotive Canada Corporation (FIO), GreenSeal Cannabis Co., Hayashi Canada, South West Ontario Veterinary Services and the Stratford Festival. New files included Trillium Hatchery Inc., Samsonite Canada, Stackpole International and Renesas Electronics Americas. Services included securing city-owned land, coordinating privately held land opportunities and providing assistance to labour and capital for expansion. In 2016, SEED Co. handled qualified inquired and secured 6 of those opportunities for Stratford. Of those inquiries, 1 resulted in a city-owned land sale in excess of $1M within Wright Business Park. Two resulted in private land deals facilitated by SEED Co. and one transpired as a win for new jobs with no land requirement in There remain companies in the 2017 Sales funnel. Although functioning as an independent body, investstratford aligns its goals with those of the City of Stratford. The Corporation benefits from the guidance of Mayor Dan Mathieson and a hardworking City Council and staff who appreciate that a vibrant business community expands the tax base which ultimately allows Stratford to be a great place to live, work and play.

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11 STRATFORD ECONOMIC ENTERPRISE DEVELOPMENT CORPORATION (SEED Co.) 2016 Income Statement As at December 31, Budget Unaudited REVENUE City Funding - SEED CO $ 472,115 $ 472,115 City Funding - SBEC 104, ,000 Provincial funding - SBEC 80,000 81,276 Recoverable Expenses 24,000 1,788 Starter & Summer Company 46,320 87,125 TOTAL REVENUE $ 726,435 $ 746,304 EXPENDITURES Operational Salaries & Benfits - SEED CO 274, ,730 Training/Professional development 1, Insurance & Custodial 13,260 10,017 Equipment & Capital 8,000 38,287 Support services & fees 33,660 37,757 Office Supplies 6,630 14,727 Meals & meeting expenses 3,570 2,987 Total Operational Expenditures $ 341,089 $ 416,575 Core Programs Conferences/trade shows/travel/mileage 20,400 13,619 Promotions/marketing/collateral materials 67,626 48,469 SBEC 245, ,298 Memberships 35,000 36,151 Programming and Program Support 17,000 22,802 Total Core Programs Expenditures $ 385,346 $ 325,339 TOTAL EXPENDITURES $ 726,435 $ 741,914 SURPLUS (DEFICIT) $ - $ 4,390 SPECIAL PROJECTS S. Festival Budget Unaudited HD Project REVENUE Festival Theater - Fed Dev project - grants 665,838 Festival Theater - Fed Dev project - recoverable 737,290 TOTAL REVENUE $ 1,403,128 EXPENDITURES Festival Theater - Fed Dev project 1,395,566 Digital media strategy Strategic Plan - implementation activity 218,801 12,873 Connected Car - 10,000 SWIFT 5,000 - Renovation/relocation 20,000 45,874 TOTAL EXPENDITURES $ 243,801 $ 69,561 $ 1,395,566 SURPLUS (DEFICIT) $ (243,801) $ (69,561) $ 7,562 BEGINNING SURPLUS - RESERVE $ 243,801 $ 194,869 ENDING SURPLUS - RESERVE $ - $ 129,698 NOTES 2016 The Stratford Festival HD project is a 3-year net zero initiative. The 2016 surplus of $7,562 is a timing item.

12 RENESAS ELECTRONICS AMERICA THE CITY OF STRATFORD WAS ESSENTIAL TO THE SUCCESS OF OUR AUTONOMOUS DRIVING PROJECT AT RENESAS. John Buszek, RENESAS The City of Stratford] showed a genuine excitement and commitment towards the progression of autonomous driving technology. Their accommodations to Renesas were beyond what we could have ever expected. Whether it was issues with location, hydro, internet, snow, anything, the City of Stratford was extremely helpful, and always quite prompt in helping. We were very lucky to have found them. John Buszek, Segment Marketing Manager, RENESAS, ADAS Solutions, Automotive Unit In the fall of 2016, RENESAS, a global leader in the development of connected auto tech tested an automated vehicle tested on a closed course located at the parking lot at Lakeside Drive and Queen Street in Stratford. The Japanese chipmaker, along with industry partners QNX and the Waterloo Centre for Automotive Research (WatCAR), conducted a trial of its automated driving platform before presenting its technology at the Consumer Electronics Show (CES) in Las Vegas. Stratford s proximity to the University of Waterloo, also proved mutually beneficial. Engineering students specializing in smart car technology were given full access to the company s tech, providing needed hands-on learning. In exchange, the tests and experiments run by the students, and the data it creates, helps the company in troubleshooting and, ultimately, proving the reliability of its product. Why Stratford? The key answer is leadership you have a mayor and municipal council who decided years ago they were going to invest in city-wide Wi-Fi. Flavio Volpe, President, Automotive Parts Manufacturing Association (Toronto Star, 2016) HELPING BUSINESS SUCCEED IN STRATFORD, ONTARIO, CANADA

13 STRATFORD FESTIVAL HD PROJECT ONGOING $3M FESTIVAL HD PROJECT PARTNERSHIP WITH THE STRATFORD FESTIVAL AND THE FEDERAL GOVERNMENT CONTINUES TO RECEIVE INTERNATIONAL PROFILE ON GLOBAL FILM SCREENS AND TVS In addition to preserving outstanding theatre performances for future generations, the HD project helps introduce the Festival and the Stratford experience to a whole new audience. Stratford Festival Artistic Director Antoni Cimolino The Stratford Festival HD Project funding supports the digitization of live performances, and ensure that the Stratford Festival can be experienced both at home and away. In the same way that New York s Metropolitan Opera has enjoyed incredible success with a similar project, it is aimed at diversifying its offerings and reaching new audiences. The films have been featured on some 400 screens worldwide, including television broadcasts on CBC. They will also be made available in future in other formats, including online, as DVDs, and as part of educational offerings to schools. The goal is to film all the works in the Shakespearean canon over the next 10 years. Federal funding is being matched by a combined $3-million from the Festival and Melbar Entertainment Group. The Stratford Festival is the largest classical theatre company in North America and enriches the City of Stratford both culturally and economically. Since first opening in 1953, it has welcomed more than 26 million people through its doors. It presents about a dozen plays each year in four unique theatres from April through October and draws about 500,000 visitors a year from across Canada, the U.S. and around the world. The Stratford Festival is of historic importance not only in Canada, but wherever theatre is taken seriously that is to say, in every civilized country in the world. Robertson Davies HELPING BUSINESS SUCCEED IN STRATFORD, ONTARIO, CANADA

14 CONNECTED CAR INITIATIVE STRATFORD IS THE CONNECTED CAPITAL OF CANADA... A SMALLER CITY THAT HAS TRULY INVESTED IN A CONNECTED INFRASTRUCTURE. A small city in Ontario, Canada, punches above its weight in the national economy. Much of its success comes from intelligent use of world-class broadband. Robert Bell, John Jung and Louis Zacharilla / Intelligent Community Forum They ve already installed 400 (communications) towers around the city. That saves us a few million dollars. A lot of other mayors would like to do this but Stratford is small enough that you can partner with them. Flavio Volpe, President, Automotive Parts Manufacturing Association (Toronto Star, 2016) Grant Courville, Director of Product Management, QNX Software Systems, Ottawa (Toronto Star, 2016) Stratford s unique municipal wide broadband network, reputation for innovation and strengths in IT and automotive make it the ideal real-life location to demonstrate new autotech in a living lab environment. The Connected Capital of Canada One of the only communities in North America offering ubiquitous Wi-Fi connectivity Upgraded security and data collection able to handle wide range of connected vehicles Located in 2nd largest IT cluster in North America, Ontario s largest IT cluster and North America s largest automotive cluster Home to University of Waterloo Stratford Campus and Accelerator Centre supporting research, UX experience, commercialization, tech entrepreneurs and digital media companies. Centrally located within major Canada-US trade corridors Directly connected to Toronto Waterloo Innovation Corridor HELPING BUSINESS SUCCEED IN STRATFORD, ONTARIO, CANADA