STRATFORD ECONOMIC ENTERPRISE DEVELOPMENT CORPORATION (SEED CO.) ANNUAL REPORT INVITATION TO INVEST

Transcription

1 STRATFORD ECONOMIC ENTERPRISE DEVELOPMENT CORPORATION (SEED CO.) ANNUAL REPORT 2015 INVITATION TO INVEST

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 ANNUAL REPORT 2015 INVITATION TO INVEST 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 2015 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. 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

4 MESSAGE FROM THE BOARD PRESIDENT: The Stratford Economic Enterprise Development Corporation (SEED Co.) adopted a new brand name in 2015 investstratford. investstratford is not only our new brand name but it is also an invitation to emerging and developing businesses to invest in Stratford. At investstratford, we are striving to create an environment that enables a range of businesses to be conceived, to grow and to mature. Anita Gaffney Board President, SEED Co. The mission of investstratford is to advance the economic future of Stratford through excellence, creativity and collaboration. It is these qualities that infuse the community s established business landscape, which ranges from culture and manufacturing to finance, tourism, healthcare and agriculture as well as those emerging sectors such as education and digital media. Two years into our mandate, we are making some impressive progress towards our goal. We have put together a small professional team under the leadership of CEO Marlene Coffey; created a strategic plan; cultivated partnerships and launched a new brand, logo and website. At the same time, we are seeing new investment in the community, new jobs and have a number of inquiries in the pipeline. To borrow an allusion to the agriculture industry, we are simultaneously preparing the ground for further development and seeing these efforts start to take root. The investstratford Board is made up of a highly skilled and accomplished group of business professionals who are committed to helping Stratford s business community thrive today and for years to come. We have an ambitious agenda and lots of work on the horizon which we take on with great enthusiasm. Although investstratford is an independent body, we align our goals with those of the City of Stratford. Our community is fortunate to be led by Mayor Dan Mathieson and the hardworking team that makes up our City Council and staff. They appreciate that a vibrant business community serves to expand the tax base. And with an expanded tax base, we can invest even more in making Stratford a great place to live, work and play. Anita Gaffney Board President, SEED Co.

5 MESSAGE FROM THE CHIEF EXECUTIVE OFFICER: Marlene Coffey Chief Executive Officer, SEED Co. At last year s inaugural SEED Co. AGM event, we heard from national innovation leader, Tom Jenkins, Chairman of OpenText Corporation, and University of Waterloo Chancellor, who praised Stratford s entrepreneurial spirit and reputation for innovation. He confirmed our position as a community perfectly positioned to take advantage of a new economy, one supported by the best infrastructure, and possessing world-class talent. We were elevated and motivated by his words that identified Stratford as a community in the global game and inspired to rise to his direction, Stratford, now is your time. Today, we are again joined by an innovation leader; the internationally recognized automotive expert Ray Tanguay, Automotive Advisor to the Governments of Canada and Ontario, who will similarly inspire and motivate as he speaks to Stratford, Ontario s position to compete. We are all invested, in some way, in our personal vision for community. In my work with investstratford, I am deeply invested in Stratford and in my commitment to building great cities within the innovation space for the new economy. We have had a stellar first-year of operations, moving from a sole staff position to a professional team including our Managing Director, Special Projects Coordinator, and now (in 2016) the Centre for Business, Business Advisor and Events and Administrative Coordinator. Together we operate as a team to deliver on assisting both small and large new businesses to start, and existing business to expand, relocate and invest here. We hope you will be impressed in our work as we moved from concept to start up in 2014, to strategy and engagement, to readiness and implementation in Our time is now and we actively invite investment. The results speak for themselves. Once again, I am honoured to serve investstratford and in the community leadership who are advancing Stratford s economic future. It is with great pleasure that we report and present the following SEED Co. s 2015 Annual Report: Invitation to Invest. Marlene Coffey Chief Executive Officer, SEED Co.

6 STRATFORD ECONOMIC ENTERPRISE DEVELOPMENT CORPORATION (SEED CO.) DIRECTOR S REPORT JANUARY TO DECEMBER 2015 SEED Co., and the new investstratford brand, continues to advance Stratford s economic future. Operating much like a business help-line, the office offers full business advisory services and assists new companies to start and existing companies to grow, relocate and invest here. In its first full year of operations, SEED Co. built on the City s investment into citywide broadband infrastructure, education and employment lands within the Wright Business Park saw SEED Co. transition from concept to start-up, strategy and engagement, and ultimately into a pivot position for readiness and implementation. Operations moved from a sole-staff position to an operational team with the addition of a Managing Director, Special Projects Coordinator in late 2015, and planning for fully integrated operations with the Stratford Perth Centre for Business in early The Corporation assisted 10 companies and 28 small business start-ups in Stratford, resulting in direct, indirect and associated economic impacts. In addition, major funding and new investment attraction yielded additional benefits to the community including over $1M in industrial land sales. Strategy and Engagement Community engagement and the convergence of three subsequent strategies, laid the foundation for investstratford s work in The strategies include a Strategic Plan, Digital Media Plan and Social Media Plan. The focus of the strategies identified opportunities to build on initial municipal investments and further utilize the innovation and technology that is found across all sectors in Stratford, while leveraging the considerable investments in citywide broadband infrastructure, the University of Waterloo, Stratford Campus and employment lands. With look local first and cross sector imperatives, a new office location with soft-landing and co-location spaces for businesses was investigated for 2016 in order to advance the entrepreneurial ecosystem in Stratford.

7 Readiness and Implementation SEED Co. has an efficient budget and small operational team that aligns to the strategies and vision for Stratford s economic future. Reporting to SEED Co. Board monthly, Stratford City Council quarterly, (and on an as needed basis), SEED Co. has gained momentum in the development and implementation of its strategy. Major highlights for the 2015 operational year include the launch of a new logo, brand and website. This initiative gives Stratford a new face within the local business community and externally within the marketplace. Initiatives include a Business Calling Program as a means to systematically connect with the existing businesses to ensure business retention and the potential for business expansion. The placement of advertisements into the U.S. marketplace, for new investment attraction was also launched. In November 2015, Stratford participated in the Southwestern Ontario Marketing Alliance (SOMA) Investment Mission to Japan, which built on long-standing relationships within the automotive cluster and resulted in the announcement of an additional $12.5M investment by Hayashi Canada. 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 and second year. As well, SEED Co. sold over $1M of industrial employment lands for the City of Stratford within the Wright Business Park. Summary of Readiness and Implementation

8 Outcomes and Results In 2015, selected clients of SEED Co. included C. R. Plastic Products, Canada Bag Supplies, Contract Framing (on behalf of Buchanan and Hall), Futaba Automotive Canada Corporation (FIO), GreenSeal Cannabis Co., Hayashi Canada, MCR Collision Centre, Ontario Home Health, South West Ontario Veterinary Services and the Stratford Festival. Services included securing city-owned land, coordinating privately held land opportunities and providing assistance in the access to labour and capital for expansion. SEED Co. handled 12 qualified inquiries and secured 10 of the 12 opportunities for Stratford. Of those inquiries, 5 resulted in the city-owned land sales 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 Two opportunities remain as potential land sales within the City s Wright Business Park while two others resulted in private deals not facilitated by economic development. In addition, three digital/technology driven companies have engaged with investstratford and are considered to be active inquiries within the sales funnel. The Stratford Perth Centre for Business has been Stratford s departmental responsibility since 2007, delivering small business program services to Stratford, St. Marys and Perth County. The year 2015 marked an internal operational shift for full integration of services into SEED Co. s operations, effective April 1, In the 2014/2015 operational year, the Centre for Business assisted in the creation of 28 new businesses which translated into 63 new jobs for Stratford and area. The Centre s full report and audited statement will be presented by the Perth Community Futures Development Corporation for the fiscal year 2014/2015. Summary of Outcomes and Results Function Service Results SEED Co (~14 month) Centre for Business 2014/15 Business Retention / Expansion Business Attraction Stratford Festival HD Industrial Land Sales One-Stop Small Business Service 8 Companies 287 New Jobs 1 Company 80 New Jobs $3 Million Grant 70 New Jobs $1,005,155 SOLD Wright Business Park 28 New Businesses 63 New Jobs = 350 New Jobs

9 Associations and Memberships SEED Co. has been active in the following associations and organizations: Moving Forward Under the investstratford brand, SEED Co. will continue to advance Stratford s economic future by assisting new companies start and helping existing companies grow, relocate and invest. Stratford is truly a place where anything is possible. Globally connected. Community driven. Respectfully submitted, Anita Gaffney Board President, SEED Co. Marlene Coffey Chief Executive Officer, SEED Co.

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11 General Operations

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13 2014 Annual General Meeting Minutes An Innovation Agenda for Stratford 1.0 Meeting Called to Order at 5:35 p.m. 2.0 Declarations of pecuniary interest and the general nature thereof None to disclose. 3.0 Director s Report 2014 Mayor Mathieson to address the report Moved by Kathy Vassilakos, City Councillor and seconded by Anne McDougall Cooper, Director Motion that the Stratford Economic Enterprise Development Corporation 2014 Director s Report be received as printed. 4.0 Chief Executive Officer s Report Marlene Coffey to speak Moved by Jeff Orr, Director and seconded by George Brown, Director Motion that the 2014 SEED Co. Chief Executive Officer s Report be received as printed. 5.0 Auditor s Report and 2014 Financial Statements - Ron Shaw to present Moved by Brad Beatty, Director and seconded by Anita Gaffney, Director That the City of Stratford s Director of Finance 2014 financial letter and financial statements to be received as printed. 6.0 Confirmation of Acts of Directors Moved by Bonnie Henderson, City Councillor and seconded by Stephen Cooper, Director That a motion to elect Anita Gaffney as President for the Stratford Economic Enterprise Development Corporation s, Board of Directors be passed. 7.0 Appointment of Nomination Committee for terms and board recruitment Moved by Bonnie Henderson, City Councillor and seconded by Stephen Cooper, Director That Stephen Cooper, Anita Gaffney and Ron Shaw be appointed to develop terms of office and recruitment, including the recruitment of the existing vacancy for one financial representative. 8.0 Appointment of Auditors Moved by Brad Beatty, City Councillor and seconded by George Brown, City Councillor That the City of Stratford s auditor, Millards Chartered Accountants of Brantford, be appointed as auditors for the Stratford Economic Enterprise Development Corporation for the fiscal year ending 31 December Adjournment of AGM Business Moved by Bonnie Henderson, City Council and seconded by Kathy Vassilakos, City Council That the business portion of the Stratford Economic Enterprise Development Corporation s annual general meeting adjourn to a refreshment break and reconvene for the guest speaker presentation at 6:30pm. 6:00pm Refreshment break 6:30pm Anita Gaffney to introduce Tom Jenkins Guest speaker: Mr. Tom Jenkins, Chairman, OpenText Corp. An Innovation Agenda for Stratford 10.0 Adjournment of official meeting Moved by Bonnie Henderson, City Councillor and seconded by George Brown, City Councillor That the 1st Annual General Meeting of the Stratford Economic Enterprise Development Corporation be adjourned at 7:30 p.m.