HomeMy WebLinkAboutCAO-12-023 - CTT Foreign Multi-National Aftercare German MissioKITC~HENEI~
Staff Repari~
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REPORT TO: Council
DATE OF MEETING: May 7, 2012
SUBMITTED BY: Dan Chapman, Deputy CAO
PREPARED BY: Rod Regier, Executive Director of Economic Development
WARD(S) INVOLVED: All
DATE OF REPORT: May 2, 2012
REPORT NO.: CAO-12-023
SUBJECT: CTT Foreign Multi-National Aftercare German Mission
RECOMMENDATION:
That in accordance with Council Policy II-35 (Conference, Seminar and Meeting Attendance and
Expenses), participation of Rod Regier, Executive Director of Economic Development, in the
CTT Foreign Multi-National Aftercare German Mission being held in Germany, June 2012, be
approved.
BACKGROUND:
Canada's Technology Triangle is the Waterloo Region's international business development
body, representing the Waterloo Region abroad to companies and professionals who are
interested in investing in Canada and the North American market. The City of Kitchener is a
funding and strategic partner of CTT and works closely with CTT to attract and retain foreign
investment in the Waterloo Region.
CTT has recently established a foreign mission program led by the Mayors of the three cities.
Mayor Zehr led a business development mission to Brasil in 2011 and will be leading the
mission to Germany in June 2012. Mayor Craig of Cambridge recently led a second mission to
China and Mayor Halloran will be leading a mission to India later in 2012. The purpose of these
missions is to build relationships that lead to increased foreign direct investment in the Waterloo
Region, introduce Waterloo Region based companies to foreign markets, and strengthen
relationships with foreign multi-national corporations that operate in the Waterloo Region.
Council policy II-35 (Conference, Seminar and Meeting Attendance and Expenses) requires
Council's approval for a member of council and/or staff to attend a conference outside of
Canada and the United States.
REPORT:
In June 2012, Mayor Zehr will lead a CTT mission to Germany to visit the headquarters of
German multi-national companies which operate in the Waterloo Region. Approximately 30
such firms employ approximately 1000 in fields as diverse as travel insurance assistance to
medical device manufacturing. Many of these firms are doing well and have the potential for
expansion. Others have been contracting as a result of changing market conditions. The
financial situation and the persistence of weakness in the European economy signal a need for
concern about the future of some of these operations. At the same time, some of our German
owned firms have opportunities to expand operations and increase employment.
To prepare for the mission a series of meetings are being held with the local office of each of
the German firms. This meeting identifies challenges and opportunities facing each of the
companies and sets the stage for the meeting with their European leaders.
The proposed outcomes of the mission include improved relations between the German owned
company and the regional economic development stakeholders, the identification of potential
challenges and opportunities for growth of the German owned firm. Over the long term, this type
of communication between our region and foreign owned firms should result in increased
stability and potential growth of those companies in our area.
In addition, the German mission will coincide with Intersolar Europe, the largest international
solar conference. It will provide an opportunity to network with European companies in the solar
industry as they seek to position themselves to enter or grow in the North American market. It
will also be an opportunity to obtain international market intelligence on the industry and position
the City of Kitchener and Waterloo Region to work more effectively to attract investment in the
solar industry. The CTT delegation will participate in the Intersolar Conference and Trade Show
and the key networking event hosted by the Province of Ontario and the German Canadian
Chamber of Commerce.
ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN:
The pursuit of foreign direct investment in the solar industry and support to Canada's
Technology Triangle are identified as priorities in the Kitchener Economic Development Strategy
and have been identified in the Economic Development Division's Business Plan for 2012.
FINANCIAL IMPLICATIONS:
The estimated cost for this mission is $5,000. Funds for this mission are included in the 2012
Economic Development budget.
COMMUNITY ENGAGEMENT:
Economic development stakeholders were extensively consulted in the formulation of KEDS.II
ACKNOWLEDGED BY: Dan Chapman, Deputy CAO, Finance and Corporate Services