2013 Business Plan Pitt Meadows Economic Development Corporation

Programs & Services

• PMEDC focuses on four main program areas:– Business Retention & Expansion (BR&E)– Community Outreach– Marketing & Attraction– Capacity Building

THINK PITT MEADOWS

2012 Successes

• Business Retention & Expansion– Aviation and agriculture focus + agriculture branding

2012 Successes

• Community Outreach– Networking, partnerships and launch events

2012 Successes

• Marketing & Attraction– Times column, earned media, investor services,

provincial partnerships

2012 Successes

• Capacity Building– BizPal, Intermunicpal business license, grant

administration, grew Ambassador program

Significant Issues & Trends

• ↑ Interest in Golden Ears Business Centre• Amount of Land for Industrial Development• Vision for Industrial Land

Significant Issues & Trends• Invest North Fraser/BC Jobs Plan Partnership• Type of Attraction Packages• Rapidly Changing Technology• Opportunity for Proactive Communications

Significant Issues & Trends• New Location for PMEDC• Transition from HST to GST/PST• Status of Canadian & International Economies• Pending Provincial Election• Regional Tourism Corridor Coordination

2013 Actions

• Business Retention & Expansion– Increase BR&E outreach and

assistance– Support regional business

accelerator program– Support entrepreneurs

2013 Actions

• Community Outreach– ↑ Business event opportunities for the

Ambassador Program to support– Host Focus Groups & Support

Events– Strengthen Partnerships

2013 Actions

• Marketing & Attraction– Update Ec. Dev. Strategic Plan– Complete Trade Area & Asset

Analysis– Continue BC Jobs Plan &

Invest North Fraser Projects– Create Dynamic Opportunities

Map

2013 Actions

• Capacity Building– Establish Business

Mentorship Program– Support Workshops– Establish a Multi-media

Resource Library

Proposed Operating Budget

Changes:• Facilitating less regional projects with grant dollars in 2013

Service agreement dollars held at 2012 level• Despite inflationary pressures, meeting priority commitments

Financial Summary - Pitt Meadows Economic Development Corporation2012

Projected Actual

2012 Budget

2013 Budget

2014 Budget

2015 Budget

2016 Budget

2017 Budget

RevenueCity of PM Fee for Service 229,981$ 229,981$ 229,981$ 234,581$ 239,272$ 244,058$ 248,939$ Grants and Other Contributions 60,593 64,000 45,000 45,900 46,818 47,754 48,709 Tourism Fee for Service 35,000 35,000 35,000 35,000 35,000 35,000 35,000 Tourism Grants 17,500 10,000 10,000 10,000 10,000 10,000 10,000 Carryforward Surplus 5,155 5,155 23,500 6,614 5,590 4,546 3,481

Total Revenue 348,229 344,136 343,481 332,095 336,680 341,358 346,129

$ Change (655)$ (11,386)$ 4,586$ 4,678$ 4,771$

% Change -0.2% -3.3% 1.4% 1.4% 1.4%

Expenditures Administration 137,290 163,786 180,681 184,295 187,981 191,740 195,575Program Administration 37,849 36,000 35,300 35,300 35,300 35,300 35,300Projects 81,140 66,000 60,000 45,000 45,900 46,818 47,754Marketing and Communications 18,295 28,195 22,500 22,500 22,500 22,500 22,500Tourism 45,000 45,000 45,000 45,000 45,000 45,000 45,000Carryforward Surplus 5,155 5,155 - - - - -

Total Expenditures 324,729 344,136 343,481 332,095 336,681 341,358 346,129

$ Change (655)$ (11,386)$ 4,586$ 4,678$ 4,772$

% Change -0.2% -3.3% 1.4% 1.4% 1.4%

Net Operating Expenditures 23,500$ -$ -$ -$ 0$ 0$ 0$