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Strategic Plan - edmontonglobal.ca

Strategic Plan 30 MAY 2018. A Strategy for Edmonton Global In a world defined by increased economic com- The Edmonton Metropolitan Region is the fifth petition and transactions, a liberal world order most prosperous region in Canada and is home under duress and an ongoing technological revo- to nearly million people and 725,000 jobs, lution changing how business is done, competing generating 30 per cent of Alberta's GDP equaling in the global economic market has never been approximately $90 billion. It possesses undeniable harder or more complex. Becoming truly globally potential both in terms of forecast population competitive, while sustaining economic growth, growth and business investment activity. Ed- requires a disciplined vision supported by values monton Global was created to capitalize on this such as inclusivity and accountability.

Edmonton Global’s Strategic Plan : 2018 -2023 VISION The Edmonton Metropolitan Region is the location of choice for global investment, collaboratively built on regional assets.

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Transcription of Strategic Plan - edmontonglobal.ca

1 Strategic Plan 30 MAY 2018. A Strategy for Edmonton Global In a world defined by increased economic com- The Edmonton Metropolitan Region is the fifth petition and transactions, a liberal world order most prosperous region in Canada and is home under duress and an ongoing technological revo- to nearly million people and 725,000 jobs, lution changing how business is done, competing generating 30 per cent of Alberta's GDP equaling in the global economic market has never been approximately $90 billion. It possesses undeniable harder or more complex. Becoming truly globally potential both in terms of forecast population competitive, while sustaining economic growth, growth and business investment activity. Ed- requires a disciplined vision supported by values monton Global was created to capitalize on this such as inclusivity and accountability.

2 Potential and to align regional economic develop- ment efforts to serve as a catalyst for growth. It is in this context that the 15 municipalities of the Edmonton Metropolitan Region came together Edmonton Global's mission is to attract significant to form the first ever regional economic develop- investment and quality jobs to the Edmonton ment corporation in the Edmonton Metropolitan Metropolitan Region. To do so, Edmonton Glob- Region known as Edmonton Global. al's strategy is focused on three main themes: collaboration, focus, and innovation. Strategic Plan | 2. COLLABORATION and local partners to pursue those opportunities One of the founding principles of Edmonton Glob- below the thresholds established by Edmonton al is that the Edmonton Metropolitan Region is Global in these sectors and support growth oppor- more competitive when municipal and economic tunities in other sectors that may arise.

3 Development partners act together. Collaboration within the local, regional, provincial and national INNOVATION. economic development ecosystem will lead to Innovation is at the heart of Edmonton Global's increased growth and successes not only for the raison d' tre, and the organization believes that Edmonton Metropolitan Region, but for Canada as all economic development activities must be a whole. Edmonton Global's collaboration agenda informed and guided by innovative approaches will focus on aligning with economic development critical to differentiate the Edmonton Metro- partners, industry, business and institutions to politan Region as a competitive global market. collectively pursue opportunities that will lead to In working to attract and retain both talent and greater regional prosperity.

4 Edmonton Global is business, Edmonton Global will work with and committed to being transparent and accountable support the region's businesses to explore scale- to its Shareholders and partners, understanding up and trade opportunities. Integrating into that collaborative relationships are built on trust. the digital economy, supporting and facilitating growth in the region's research and development FOCUS capacity, and creating new opportunities and Taking the voice of the Edmonton Metropolitan value for all business and industry will be core Region to the world, and serving as a point of components of a regional innovation agenda. reference for the world into the region, requires Edmonton Global will actively seek opportunities a clear focus on what Edmonton Global's role in for growth and investment that reflect the evolv- the regional economic development ecosystem ing and technological nature of doing business in will be.

5 Edmonton Global will develop a Foreign the global market, capitalizing on the region's Direct investment and Trade strategy that will strengths in artificial intelligence and technology, pursue lead generation in select sectors where and ensuring the Edmonton Metropolitan Region a clear regional competitive advantage can be is ahead of the curve in planning for, and attract- identified, and will be benchmarked to clearly ing, growth. identify the region's global competitiveness. It is impossible for a single organization to capably Edmonton Global seeks to establish itself as a handle all lead generation opportunities in these catalyst for investment and job attraction that sectors, so Edmonton Global will establish clear can harness the vast potential and assets of the thresholds and investment targets for the oppor- Edmonton Metropolitan Region through a shared tunities it will pursue, and will support regional vision for success.

6 Strategic Plan | 3. Edmonton Global's Strategic Plan : 2018 -2023. VISION MISSION. The Edmonton Metropolitan Region is the Together, we strengthen the Edmonton location of choice for global investment , Metropolitan Region's global competitiveness, collaboratively built on regional assets. growth and innovation. VALUES PRINCIPLES. Collaboration, excellence, innovation, 1. Shared investment , shared value respect, sustainability. 2. Transparency and accountability 3. Respect for local autonomy 4. Inclusive 5. Speak with one voice Strategic Plan | 4. CORE ASSUMPTIONS. 1. Edmonton Global's major priority is investment and job attraction to the Edmonton Metro Region. 2. Edmonton Global is the regional voice for Economic Development activities in the Edmonton Metro Region and must tell the story of the Edmonton Metro Region by acting as the Region's voice to the world and conduit to international markets.

7 3. Edmonton Global is based on the principle of regional partnership, and believes ongoing global, national, provincial, regional, sub-regional and local partnerships are pivotal to its success. The strategy for Edmonton Global is developed within a national narrative that must consider, reflect and complement the activities and expertise of other national partners. Priority 1: Serve as a catalyst for investment and job INITIATIVE 2: attraction and retention for the Edmonton Developing a regional Site Selection tool and Metropolitan Region Regional Database to inform regional investment decisions, and business and talent attraction OBJECTIVE: and retention. To pursue FDI and Trade opportunities in focus sectors and markets where growth potential DESIRED OUTCOME: exists for the Edmonton Metropolitan Region Agree to one municipal member database as a shared common database where Edmonton Global INITIATIVE 1: assumes responsibility and management on behalf of its partners.

8 Seeking opportunities for Lead Generation in Agri-Business, Energy, Health, and Manufacturing/. Advanced Manufacturing across the regional INITIATIVE 3: economic development ecosystem. Using innovative approaches to Market Intelligence, Research, and Competitive DESIRED OUTCOME: Benchmarking to target opportunities and inform investment decisions and strategies. Production of a regional economic development ecosystem integration plan that includes lead generation and share protocols with Edmonton DESIRED OUTCOME: Global member municipalities and partner Establishment of data analytics capacity, including economic development agencies, which but not limited to capabilities in regional labour includes targets for Edmonton Global's FDI and data, feasibility studies, and business cases for Trade initiatives.

9 investment opportunities benchmarked against competitive global jurisdictions. Strategic Plan | 5. Priority 2: Be the voice of the Edmonton Metropolitan Re- recognition of, and return on, regional brand gion's economic development activities. awareness, and measurement of engagement through social media and website analytics. OBJECTIVE: To develop a regional brand for economic INITIATIVE 2: development and tell the story of the Edmonton Metropolitan Region within and outside of Canada Collaborating with regional partners and stakeholders to advocate for policies, programs, incentives and funding that can make the INITIATIVE 1: Edmonton Metropolitan Region as globally Positioning the Edmonton Metropolitan Region competitive and attractive as possible. as an investment -ready and attractive place to do business by developing and promoting a DESIRED OUTCOME: regional brand.

10 Development of an Edmonton Global advocacy strategy in collaboration with regional and local DESIRED OUTCOME: partners that identifies barriers to investment Development of an Edmonton Global marketing and solutions to enhancing the region's and brand strategy in collaboration with regional competitiveness, including how and where partners that includes measurements, such as capacity development can be supported with respect to local economic development efforts. Priority 3: Leverage partnerships to enhance Edmonton INITIATIVE 2: Global's success. Capitalizing on Industry and Institutional Partnerships to produce novel strategies and OBJECTIVE: approaches to development through a regional To align with economic development, institutional innovation agenda that will make the Edmonton and business partners to enable economic Metro Region more globally competitive.


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