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HomeMy WebLinkAboutBusiness & Ind - 1997-03-19BIAC\1997-03-19 BUSINESS AND INDUSTRY ADVISORY COMMITTEE MINUTES WEDNESDAY, MARCH 19, 1997 PRESENT: Carl Zehi' (Chah'), John Bingeman, Dan Beach, John Tibbits, L inda Kieswetter, Hugh Munro, Mike Hisco~ Susan McConnell, Atso Saarkoppel, Denise Strong, Councillors Christina Weylie, Jake Smola and Tom Galloway ALSO PRESENT: Mayor Richard Chiqsty, Dan l:qqngle, l~'ank Varga, Valerie Gibaut and Jane Jantzi RECORDER: Sandy Curzon 1. Canada's Technology Triangle Accelerator Network (CTTAN) In May '96 a stemqng committee of local business people, the universities and development officers submitted a pilot project under the auspices of Canada's Technology Triangle Accelerator Network (Cq'FAN) to the Canada Community Investment Plant CCH) k an initiative by the federal government to addi'ess the needs of small and medium sized enterprises (SME's) in accessing risk capital for financial growtl~ In September '96 the National Selection Board for the CCH) identified eleven communities, CT~ being one, which it considered eligible to receive funds to manage a Demonstration PI'oject. The second part of CCH)'s plan k a Skills Development program which will assist participants in theh' knowledge of the sources of venture capital and the process by which it k invested, providing took to assist investment facilitator~ Nh'. Dan PI4ugle, represented CT~AN to provide Committee with an overview of this organizatio~ CT~AN will receive $190,000 per year of federal funding for the next five years, providing the community match the funding by $60,000 (50%) annually. After five years it is expected that CT~AN would become sell' sustaining. Todate CT~AN has raised $40,000 for the fhst year. CT~ was prima~qly selected because of the large numbers of economic engines for potential economic growt]~ Companies targeted are those organizations that have demonstrated fast growth such as the high-technology companies that exist thi'oughout CTS. In answer to questions raised, these companies would ah'eady have exporting venture~ Mayor Chiqsty left the meeting Securing our Future - Discussion Paper On March 3rd City Council asked that the Business and Industry Advisory Committee to review the report entitled "Secu~qng our Future", prepared by the Chambers of Kitchener- Waterloo and Guelph and make a recommendation to Planning and Economic Development Committee at theh' meeting of Ap~ql 7, 1997. BUSINESS AND INDUSTRY ADVISORY COMMITTEE - MINUTES N[essrs. 3. Nh'. l~'ank Varga, representing the Chambers of Commerce for Kitchener-Waterloo and Guelph gave Committee an overview of a discussion paper entitled "Secu~qng our Future", a model for consideration which reviews the current state of economic development and provides an approach to maintain the economic resources necessary to enhance the quality of ]fib that citizens within CT~ have come to enjoy. It was felt that the liming is right for a change. One of the main focuses would be to utilize the strengths that ah'early exist within CT~ while developing new partners pubhc and private which could include business, education and labour- outside the pohtical jurisdiction~ Four objectives were identified: 9. 3. 4. Business Retention and Growth New Business Generation Mass Marketing Land Development and Sales C. Zehi' asked Committee members individually for the comment~ See 'Schedule A' attached, a summary which was presented to PED on Ap~ql 7tl~ It was cla~4fied by V. Gibaut that CT~ initiated a review by following the recommendations of David Douglas' workplan to take CT~ to the next step. Nh'. Varga concurred that the Chamber of Commerce of Cambridge had not originally 'bought in' to the concept~ however he assured Committee that they were now on board. There is a potential that within 5 years this model could be sell' sustaining, therefore taxpayers will not be placed with a financial burdem Varga and PI4ugle left the meeting a) Minutes of February 19, 1997 Minutes of February 19, 1997 were approved and adopted b) Business Arising from Minutes An Offer to Purchase of Site 135 in Huron Business Park was accepted by PED on March 17t]~ Kissner Milling will be leaving theh' Alpine Ihqve facility which staff feel would be an attractive building to take to the market , due to size and locatiom Economic Development Division March 19, 1997. BUSINESS AND INDUSTRY ADVISORY COMMITTEE - MINUTES An Offer to Purchase of Site 130C in Huron Business Park was refused by PED on March 17tl~ The purchaser is currently reviewing theh' offer and will advise staff. 4. Economic Development Activities a) Casinos Staff inlbrmed Committee that they are handling a request by an investor to utilize either Market Square or the King Centre for a casino. The PI'ovince has indicated that two charity casinos in the Kitchener-Waterloo area will be approve& Di~ussion centred around Committees opinion of casinos with respect to site, operator, zoning, economic benefit~ and private vs non profib It was stated by the potential operators, that they want to be welcomed into the community, or they will go elsewhere. Once legislation is introduced, all existing local charities will lose theh' right to conduct Monte Carlo event~ b) Waterloo Regional Airport Councillor Smola asked for staff support in assisting him in prepa~qng a summary of economic benefits of supporting the Regional Ah~ort~ V. Gibaut will meet with Councillor Smola to assist in his researc]~ Meeting adjourned at l:10pm Next Meeting: Wednesday, April 9, 1997 11:00 am - 1:00 pm City of Kitchener, Council Caucus Room City Hall, ~nd Floor Economic Development Division March 19, 1997.