HomeMy WebLinkAbout2024-09-25 EDAC Minutes
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Economic Development Advisory Committee
Committee Minutes
September 25, 2024, 11:00 a.m.
Schmalz Room - Second Floor City Hall
City of Kitchener
200 King Street W, Kitchener, ON N2G 4G7
Present: Chuck Howitt, Chair
M. Lam, Member
M. Krushack, Member
J. Curto, Member
M. Bingeman, Member
A. Akbar, Member
Staff: Cory Bluhm
Brian Bennett
N. Nandakumar, Committee Administrator
Aura Hertzog
Lidia Feraco
Mitchell Blaine
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1. Commencement
The meeting commenced at 11:11 a.m. Chaired by Chuck Howitt.
2. Disclosure of Pecuniary Interest and the General Nature Thereof
None
3. Delegations
None
4. Discussion Items
4.1 Administrative Updates
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C.Bluhm shared that the committee is operating on a 4-year term and any gaps
in representation across different industries would be identified and addressed.
4.2 State of Commercial Real Estate
M.Blaine presented to the committee the Industrial Market Update for Q3 2024.
He provided an overview on Capital, Industrial and Office markets touching on
important areas such as leasing vs buying, land values and developmental
charges, supply pipeline and trends. He touched upon the notable development
in the area of Milton, Waterloo, Wellington, Brantford & Brant County, Woodstock
along with their development timelines. He noted that the construction in the
Industrial Real Estate Space has reduced along with the rent with the E -
Commerce Industry picking up.
The committee had questions pertaining to parking spaces and a need to
alleviate parking in the Downtown area.
4.3 Lunch
4.4 Business Outreach Program
The initiative aims to enhance business outreach across sectors, fostering
relationships, identifying retention and expansion needs, and positioning the City
as a key support resource. The process includes marketing and planning phases,
followed by targeted outreach to 300 businesses and round table discussions
across industries. Key areas of focus will encompass growth opportunities, labor
needs, competition challenges, and municipal support. A comprehensive data
report will be shared with Council and the community, highlighting insights and
recommendations.
4.5 Sustainability Practices for Businesses - Exploratory Conversation
C.Bluhm spoke about Business Resilience and Continuity in the face of Climate
Change.
City's Facilities (56%) and Fleet (34%) divisions are the drivers of
sustainability initiatives
He spoke about the Transform WR which is Waterloo Region's community wide
Initiate which aims at :
Low Energy goods movement
Building 15 minute communities
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Zero Emission vehicles
Transform the ways we produce, consume and waste
It is a long term strategy that aims to transform Waterloo Region into an
equitable, prosperous, resilient low carbon community.
5. Adjournment
The meeting adjourned at 1:10 p.m.
Navitha Nandakumar
Committee Administrator