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HomeMy WebLinkAboutEDAC - 2015-04-22 ECONOMIC DEVELOPMENT ADVISORY COMMITTEE MINUTES April 22, 2015 City of Kitchener The Economic Development Advisory Committee this date, chaired by Councillor Paul Singh, chaired by Jeremy Auger with the following members present: Adrian Conrad, Councillor Bill Ioannidis, Darrin Snider, Jeff Hoekman, Jeremy Auger, Johanna Classon-Romero, Mark Bingeman, Councillor Scott Davey, and Shantal Myers. Staff in attendance: Chris Farrell, Cory Bluhm, Janette MacDonald, Mistie Brown, Rod Regier, and Eowyn Layng Guests in attendance: Dorothy McCabe, Deputy Chief of Staff, Office of the Mayor and Council; Krista Blake, Coordinator, Arts and Culture; Zac Rendell, Summer Company Assistant, Waterloo Region Small Business Centre Business Items 1. The minutes of the March 25, 2015 meeting were approved. New Business 2. Councillor Paul Singh opens the meeting by giving of a general overview of the agenda. There will follow a number of brief presentations from members, each representing an important sector of our local economy. The purpose of the 2.1. KEDS Update Janette MacDonald provided an update of Kitchener’s Economic Development strategy (KEDS):  Currently moving from the planning phase to the consulting phase of the research process, consulting nd that will culminate with the KEDS Symposium on June 2 at THEMUSEUM  Currently putting together a list of stakeholders. This list will now not include all members of city advisory committees; instead there will be an urge for conversations to take place within committee meetings.  Economic Development has hired a Marketing Associate, Frank Sargeant, who is currently focusing on the 150 Conversations piece of the research gathering process.  Need to find ambassadors to host these conversations. Janette requests that any and all committee members reach out if they have an interest in participating in these conversations. Krista Bake provided a quick description of the branding for the KEDS symposium, which will be known to the public now as “Ideas of the Brave” 2.2. Real Estate Sector Adrian Conrad gives an overview of the Real Estate Sector. Key highlights include:  In a regional context there is inconsistent information on available land.  In the office real estate market, rates have stayed higher. There is a high demand for move-in ready tech space, and as a result we are seeing more creative deals where landlords may include furniture in rentals of office space.  For new developments, development charges are always a factor. DC exemptions currently allow developers to offset parking costs in the downtown. Developers are aware that exemptions will be pulled in 2019.  High interest in future LRT sites could change local culture 2.3. Summer Company Program Zac Rendell provided an overview of Summer Company, a program run by the province and facilitated in the region by the Waterloo Region Small Business Centre.  Summer Company program is a program that provides start up grants and mentorship programs to students between the ages of 18-25 years old.  Students start and run their own business throughout the summer months, gaining valuable skills and hands-on entrepreneurial experience.  More information on this program can be found on the Waterloo Region Small Business Centre website. 2.4. GO Train Update Dorothy McCabe provided an update on GO transit. Key highlights include:  New Mayor in Brampton has led to a new decision; Brampton now supports the two-way GO initiative. Brampton’s inclusion could mean an estimated 40,000 new jobs, 13,000 new companies, as well as millions saved in commuter costs st  An updated business case was posted yesterday (April 21) on The City of Kitchener website, and can be viewed here  Brampton has released a new promotional video which can be viewed here. Committee members can feel free to share this video among all social networks.  With the Provincial and Federal budgets being announced, it is a top priority for The City of Kitchener to ensure that our priority in regards to the two-way GO also remains a priority for the province, as well as the country. 2.5. Hospitality and Tourism Sector Mark Bingeman provided an overview of the current state of the tourism and hospitality, and the restaurant and hotel industries within the region. Key highlights include:  The region is an underserviced area with a struggle between independent and chain businesses  50% percent of all independent restaurants go out of business  The region is the worst performing area in the province with the lowest average rates and the lowest occupancy rates  Just not enough demand generator in the region to fill hotel rooms  The effect of the minimum wage increase will be offset for businesses by finding better costs from suppliers  Lower gas prices and the value of the Canadian dollar could cause an increase in US tourism, and is seen as great potential for the region 2.6. Education Sector Johanna Classon-Romero and Jeff Hoekman gave a presentation on the Education sector, with a focus on provincial funding, increasing enrolment trends, current opportunities, and future trends. For detailed information, the complete presentation has been attached below: EDAC_WLU_Uni sector.pptx 3. Information Items / Unfinished Business Rod Regier requested that EDAC members will facilitate KEDS conversations prior to the Symposium on June nd 2. Rod welcomed Frank Sargeant, Economic Development’s new staff member and KEDS team recruit. One of the key focuses right now is putting together a tool kit to facilitate these conversations. The tool kits will allow stakeholders and committee members to reach out the community, hold conversations, and bring back usable information that will eventually be tabulated for results. On motion the meeting adjourned at 1:00pm.