LACOMBE ECONOMIC DEVELOPMENT BOARD
STRATEGIC DIRECTIONS AND PLANNING FRAMEWORK

Based on the Situation Analysis, which provides considerable insight into the current standing of the Economic Development Board (Board) the following statements have been developed to guide future action and decision making:

The Lacombe Economic Development Board provides a liaison between the community and council in attracting new business and providing an environment for all businesses to grow and succeed so that the community thrives.

The challenge to the members of the Board is to "live" and effectively represent this Mission Statement all day everyday while they are "on-stage", representing the organization.

An organization’s competitive advantage is what makes it different and special – the reason people choose to do business with you instead of your competitors. A clear focus on this advantage helps to ensure that strategic and daily decisions support and protect this advantage. It can also help capture opportunities in ways others may not easily copy. Lacombe’s competitive advantage includes:

· Close proximity to everything (i.e., mountains, Calgary, Edmonton, Red Deer)

· Easy access to all modes of transportation

· Green spaces, unusual landscapes

· Water, lakes, ponds

· Access to all services

· High percentage of professionals

· Access to universities and colleges, all of which are active in community development

· A unique and interesting heritage that is exemplified by many buildings in town

· An efficient infrastructure

· Being responsive to needs and change

· Being friendly – people know their neighbours

· A progressive website

For an organization to fulfill its competitive advantage and be significantly successful, it must get the following Critical Success Factors right on a very consistent basis:

· Clear, focused direction

· Measurable change in the assessment (better than the 80/20 ratio of residential to commercial that currently exists)

· Increased participation at Economic Development functions

· Educating local businesses and the public and Council

• What is Economic Development?
• Why is it important?
• Why the Board?

· Widespread involvement – from both the established and the new businesses

· Attract the "right" businesses in order to minimize migration to Red Deer

· Targeted retention percentage

· Help create an economic environment that will help all businesses to succeed

· Attract and keep good quality people on the Board

· Plan with budget to identify Economic Development priorities and costs

· Means of monitoring, measuring and reporting progress/success

· Good interaction and a presence with Council

· Clearly defined working relationship with Council

· Progressive working relationship with the Chamber and other entities with Business Development mandates

(avoiding duplication of services)

· Strong, positive and consistent image throughout

· Keep current, especially with technology

Performance can and should be managed by monitoring and reporting on activities that drive the Critical Success Factors listed above.

An organization’s vision is a description of a future state of being. In other words, a description of what "things" will look like in the future. By the year 2006, the Board, through focusing on their strategic objectives and using the required discipline in their decision-making will have achieved the following business vision:

Structure

Having been given greater responsibility and more autonomy in achieving its objectives, the Board will have an effective and influential role in the Town’s economic development initiatives. The function of the Board will be enhanced through cooperative participation with the County and the Board may have evolved into an Economic Development Authority.

Enhanced Tax Base

The efforts of the Board help create a diversified property tax assessment base through increased tourism, commercial, light manufacturing and agri-food activity. The community will offer a diversified business structure with an assessment ratio of 75% residential, 25% commercial/industrial.

Council Relations

The Board will work closely with Council, gaining full respect for their efforts from Council and the Town residents. The Board will be perceived as a key voice for business and for Council on economic development matters. Council perceives the Board as a reliable source of information.

Image

The Board will serve the local market and the worldwide market through their progressive marketing efforts. As a result the Lacombe’s economic development initiative will be recognized locally, regionally, nationally and, as the community becomes known globally, as a respected player in the industry.

Business Environment

Lacombe will enjoy a creative business environment. Their comprehensive information will be a major asset in providing and supporting the creative business environment as Lacombe continues to grow. Progressive marketing development and education activities results in increased attendance at functions and increased support for all Economic Development activities.

Board Business

Internal cohesiveness on the Board will be maximized through a thorough and effective orientation for new board members. Their actions will be guided by an effective bus iness plan. The activities of the board will be carried out effectively by a qualified and diversified group of individuals committed to the economic health and well being of the community.

Community Benefits

In addition to increased economic development, Lacombe’s citizens will enjoy improved amenities in what has become a vibrant social and economic community.

The strategic directions are intended to address the obstacles and help realize our vision. Planned accomplishments to move forward on these strategies include:

Council Relations

The Board should share their new vision with Council and request their feedback to the plan.

The Board should improve the specificity of the information provided to Council.

The Board should specify the processes to be used to establish an effective reporting relationship withCouncil

A joint planning session should be held with Council to clarify perspectives, direction and communication.

Meetings between the Board and Council should be scheduled bi-annually to maintain positive working relations and effectiveness.

Both the Board and Council should strive to expand their knowledge of each other’s business and work more closely together for the benefit of both parties.

The Board should seek to pro vide economic information; analysis and forecasting that would be beneficial to Council in its deliberations and decisions on economic development matters.

The Board will share their vision and plan with Town Council, County Council and the community for the purpose of receiving feedback and support for the plan.

The Board will strive to make the community feel they are part of the economic development process.

The Board will strive to act as a facilitator with the Chamber in helping both organizations to achieve their goals.

With the sanction or upon direction of Council, the Board will become more active in political circles by meeting with government officials and lobbying at various political levels for the benefit of the community.

The Board will develop an orientation system complete with a training program and plan.

The Board will conduct much of its business through specialty focus sub -committees that need to be identified and developed.

The Board members will take a new oath and sign a statement of commitment to clarify their new commitment and rid themselves of the baggage from past endeavours that did not work out as well as planned.

The Board will identify data and systems for evaluation to enhance their ability to monitor and report performance on a go forward basis.

The Board will develop a strategic plan to lead their budgeting process that will ensure scarce resources achieve priority results. Performance measures will be developed to monitor and manage economic development performance and to ensure expectations are reached.

Board activities will be openly communicated to all stakeholders to maximize effectiveness and support for economic development activities.

Resources

Due to limited resources of time and money, the Board will document all resources at its disposal before planning for their use.

The Board is committed to managing more effective meetings, based on focusing on the results achieved in accordance with the new strategic plan.

Economic Development Plan

1. The Board will develop an Economic Development Plan each year for the consideration of Council which will identify the objectives, activities and expected outcomes for the economic development efforts of the Town.

2. The Plan will focus on

• expanding existing businesses and attracting new businesses
• redeveloping existing properties and developing new lands for commercial and industrial uses
• attracting businesses that take advantage of transportation infrastructure (including highways and railway)
• developing activities and opportunities that build on the presence and strength of the agricultural research facilities
• improving availability of services or products for which residents presently leave the community

Improving Council Relations

1. Arrange a date to present the strategic plan to Council.

2. Forward a copy of the plan to Council, making known the interest for improved reporting processes and enhanced specificity of information to be provided to Council.

3. Make a formal presentation to council, highlighting the most important elements of the plan for their review and endorsement.

4. Request and schedule bi-annual joint meetings with Council.

Becoming a More Effective Board

1. Create a new oath and statement of commitment.

2. Create an orientation package with history, mandate, processes, roles, responsibilities, confidentiality expectations etc.

3. Complete a skills assessment survey of the Board to create a skill profile of members.

4. Identify expertise and background areas to be represented on the Board in the future.

5. Identify mechanisms for recruiting and training Board members.

6. Identify the types of subcommittees needed with responsibilities for each outlined.

7. Develop and provide training sessions.

Improving External Relations

1. Call County to arrange a meeting regarding the establishment of a strategic alliance.

2. Meet with the Chamber to discuss future EDB direction and implications for the Chamber.

3. Develop a questionnaire to find out from business owners what their needs and wants are in the area of development. Send questionnaire with utility bill.

Improving Government Relations

Subject to the direction of Council, the Board will:

1. Meet with the MLA and the Minister of Economic Development.

2. Meet with other government officials.

3. Begin political lobbying process.

4. Document the resources available to the Board.

Leading Edge Marketing

1. 1. Research local businesses by type and percentage (commercial, industrial, residential)

2. Research number of inquiries by commercial or industrial sector by month.

3. Track number of commercial or industrial sales by month.

4. Assemble and analyze relevant economic information and develop economic forecasts for Council.

5. Develop an approach to identify and match potential sources of local and outside investment withprospective commercial or industrial development in the community and upon approval of the approach byCouncil, inventory these potential sources.

Items across the top reflect the consensus of the group. These identify the major aspects of the group’s vision for the future. Items below the line were brainstormed by participants as they stated what they would like to see in five years’ time. These items were grouped to reflect common intent to generate the consensus.

Items above the top in bold reflect the consensus of the group. These identify the major aspects of the group’s strategic directions for overcoming the obstacles mentioned in the previous section. Participants brainstormed items below the bolded titles as they stated what they would like to see take place to overcome the identified barriers. These items were grouped to reflect common intent to generate the consensus.

APPENDIX 3 – ACTION PLANS

Bolded Items across the top reflect the consensus of the group. These identify the actions the group decided were best suited to implement the identified strategies. Items below the bolded titles were brainstormed by participants as they stated what they thought would accomplish the objectives. These items were grouped to reflect common intent to generate the consensus.