Economic Development Regina Inc.

2016 Business PlanSmart growth through key industry sectors

The strategy development approach utilized by Economic Development Regina Inc. (EDR) for the purpose of providing clarity in the operationalization of the organization’s 2020 Strategy, as articulated in the 2020 Strategic Plan document, is the Balanced Scorecard (BSC) model. The BSC model was chosen as it provides a systematic approach to tracking the effectiveness of an organization’s implementation of its strategic vision. The four key components tracked by the BSC are:

• Customer - If we succeed, how will we look to our stakeholders / citizens of Regina?

• Financial - If we succeed how will we look to our shareholder?

• Operational - To succeed, what must we excel at?

• Organizational - To achieve our organizational goals, how must we learn and improve?

For each of the four key components, EDR has established objectives and key performance indicators. Additionally, each year, specific and

measurable targets are established to support the organizations performance as it relates to each of the key performance indicators.

As outlined in the 2020 Strategic Plan, 2015 was a foundational year for EDR. Although Key Performance Indicators (KPIs) were established that aligned with the strategic intents of the organization, these KPIs were largely, although not exclusively, future oriented (i.e. 2016 and beyond) and were predicated on the successful completion of significant foundational initiatives, as captured in EDR’s 2015 Strategy Map.

These foundational initiatives were the focus of management’s efforts throughout 2015. The results of these foundation initiatives in 2015 have contributed to informing EDR on its 2016 KPIs and targets. Moreover, their completion provided the Board and management with the necessary insight to affirm the efficacy of the existing KPIs; or alternatively, it caused the organization to re-evaluate

Regina at dusk

Summary

The role of EDR is to advance a bold, collaborative vision and to build a foundation to ensure economic propserity and growth for the Regina region.

Regina Skyline

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their value in measuring the outcomes (i.e. results compared to intended purpose) needed to deliver on its goals, strategic intents, mission and vision. These various KPI modifications / changes are reflected in the approved 2016 Business Plan.

The subsequent strategy to deliver on EDR’s vision was developed under the guidance of a full engaged Board and our shareholder, the City of Regina, and through engagement and collaboration of the community, business leaders and other stakeholders.

The execution of the EDR strategy has now advanced beyond the successful assessment and call to action phases, and is solidly in the ‘mobilization’ stage. In 2016, this will continue to involve assembling and marshaling resources through the provision of partnerships, alliances and other mutually beneficial working relationships that have clear and measurable outcomes.

These various collaborations have provided EDR, and its partners, the wherewithal to set in motion the necessary actions that will propel the community to achieving its economic development goals.

While some economic challenges have certainly emerged in the past year, the EDR Board and management remain committed to, and confident in, the transformational smart growth strategy first articulated in the organization’s 2020 Strategic Plan and 2015 Business Plan. As always, we look forward to serving the community through the provision of economic development leadership, manifested by achieving the objectives contained in our 2016 Business Plan.

Smart growth in strategic industry sectors is the primary focus of Economic Development Regina.

Willow on Wascana Patio

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Vision and 2016 Strategy Map

The greater Regina region prospers as a vibrant and diversified economy for investors, a strong destination experience for visitors, and a place of

choice with a high standard and quality of life for residents.

4.0EDR CONTRIBUTES

TO THE STRENGTH OF REGINA’S ECONOMY AND VIBRANCY OF

REGINA AS A PLACE TO VISIT AND LIVE

CUSTOMER PERSPECTIVE // If we succeed, how will we look to our Stakeholders?

The entrepreneurial spirit has powered the Regina region to consistently achieve superior economic performance

4.1 The Regina region has a top performing regional tourism ecosystem

4.2

Import replacement for key industries/ supply chainsExpanded markets for key industries/supply chainsNet new full time jobs within key industries/supply chainsStart ups within key industries/supply chainsInvestment attraction to Regina region (#)

4.11

4.12

4.13

4.144.15

KEY PERFORMANCE INDICATORS

Economic impact of events, conventions and tradeshows (ECT)Number of visitors to the Regina RegionNumber of person nights in the Regina RegionRetention and growth of existing/legacy ECTExecution of the ‘Alliance for ECT’ (Alliance) Strategy MapExecution of the ‘Tourism Leadership Council’ (TLC) Strategy MapRegina region visitor experience metricsMarketing metrics for the regional audience

4.21

4.224.234.244.254.26

4.274.28

EDR will identify ten products or services not presently manufactured in the Regina region that have identifiable and willing buyers, and that a local business has the capacity to manufacture/provideThe manufacture/service offering of one product or service arising from the ten identified – and where EDR has contributed to the result in a meaningful and measureable wayThree key industry hub companies with which EDR has partnered will report an expansion; or alternatively announce an intention to expandEDR will announce and implement a program/service designed to facilitate growth and expansion (i.e. economic gardening) for EDR’s key industries and/or their supply chainsEDR will contribute to the development of twenty-five (25) new jobs in the Regina regionEDR will contribute to/facilitate one new business start-up in its key industry hubs/supply chains in the Regina regionEDR’s investment attraction activities will result in two new businesses from outside Saskatchewan locating – or announcing the intention to locate – to the Regina region

4.11.1

4.11.2

4.12.1

4.12.2

4.13.1

4.14.1

4.15.1

2016 TARGETS

Estimated Economic Impact (EEI) of future secured ECT will provide a contribution of $25 million to the Regina RegionOver a three-year cycle (i.e. 2016, 2017, 2018), one major event will be secured with EEI of no less than $50 millionDefine, identify, and facilitate the planning and creation of a new, annual signature event for the Regina region focused on attracting a regional audience/visitors10,000 overnight visitors attracted to the Regina region for future secured ECT25,000 projected ‘person nights’ for future secured ECTDevelop an online ’person-night’ conversion modelIdentify gaps and opportunities for the retention and growth of three specific and existing ECT – and thereafter develop retention and growth strategies and 2017 measures for eachSuccessful implementation and execution of the Alliance strategy based on an assessment by the Alliance partnersSuccessful implementation and execution of the TLC’s strat-egy based on assessment by the TLC partnersEstablish estimated baselines and targets for improving the visitor experience in existing and new ECTIncrease tourism’s marketing metrics in all initiatives by 10% in targeted regional areas

4.21.1

4.21.2

4.21.3

4.22.1

4.23.14.23.24.24.1

4.25.1

4.26.1

4.27.1

4.28.1

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3.0EDR HAS THE

NECESSARY RESOURCES AND SYSTEMS THAT SUPPORT THE LONG

TERM EFFECTIVENESS OF THE ORGANIZATION

FINANCIAL PERSPECTIVE // If we succeed how will we look to our shareholder?

Maintain/enhance investment commitment from City of Regina to maintain core organizational functions

3.1 Develop resource models to support incremental growth initiatives and projects

3.2

Current revenue and two year projected revenues are secure and sufficient to resource core functions

3.11

KEY PERFORMANCE INDICATORSCurrent and projected projects have sufficient internal resources and/or partnerships to support project costs

3.21

Approved 2016 City of Regina Investment of $1,719,500

3.11.1

2016 TARGETSPartner/alliance investment (cash & VIK) and third-party contracts in 2016 totalling in excess of $800,000Undertake and complete an analysis of the opportunity to develop third-party investment partnerships

3.21.1

3.21.2

2.0EDR EXCELS AT

DEVELOPING AND DELIVERING ON ITS

ECONOMIC DEVELOPMENT PRIORITIES AND CORE FUNCTIONS FOR THE

REGINA REGION

OPERATIONAL PERSPECTIVE // To succeed, at what must we excel?

Strategic utilization/leverage of key industry hubs where Regina Region has a distinct advantage

2.1 Aggregator of strategic intelligence to support informed business decisions for both EDR and stakeholders

2.2 Provider of competitive intelligence (CI) to support growth and development of key industry hubs

2.3 Lead projects where opportunities or initiatives exceed scope of our core functions

2.4 Communi-cations with stakeholders,shareholder and partners

2.5

KEY PERFORMANCE INDICATORS

Industry stakeholder satisfaction with EDR relationship

2.12 Internal and external stakeholder satisfaction withinformation

2.21 Key industry stakeholder satisfaction with competitive information

2.31 Project benefits are realized

2.41 Stakeholder, partner and shareholder awareness and satisfaction levels relative to EDR services and objectives

2.51

2016 TARGETSIndustry stakeholder survey measuring effectiveness of EDR’s industry development strategies and initiatives (e.g. EDR’s value-add contribution in facilitating growth and development initiatives, value-add in leading S&CI, collaboration effectiveness, etc.)

2.12.1 Further develop the threefoundational S&CI pillars to deliver on internal and external stakeholder needs specific to food manufacturing & processing, machinery & equipment manufacturing, ECT and tourismDevelopment of internal S&CI capacity to include the provision of a EDR ‘Certified Competitive Intelligence Analyst”

2.21.1

2.21.2

Improve key industry stakeholder satisfaction levels

2.31.1 Establish and measure the intended economic development outcomes on projects undertaken by EDR that fall outside its core functions

2.41.1 Improve key industry stakeholder satisfaction levels from 2015 baseline

2.51.1

1.0EDR HAS DEVELOPED

A “BEST IN CLASS” ORGANIZATIONAL

CULTURE, STRUCTURE AND COMPETENCY

TO SUPPORT ITS STRATEGY NOW AND

IN THE FUTURE

ORGANIZATIONAL PERSPECTIVE // To achieve our organizational goals, how must we learn & improve?

Excellence in relationship building and collaboration

1.1 Excellence in performance management and reporting

1.2 Scalable and fluid systems and structures that respond to change and opportunity

1.3

Key partnerships and relationships are supported by actionable agreements

1.11 Quarterly reporting to metrics

1.21 Organizational assessment1.31

KEY PERFORMANCE INDICATORS

2016 TARGETSSurveying of partners to establish success in achieving defined relationship objectives‘Partner investment’ (ie. Cash and value-in-kind) to increase by forty- three percent (43%) from 2015 (i.e. approximately $254.000)New partnerships/alliances developed that allow EDR to deliver on emerging 2016 priorities

1.11.1

1.11.2

1.11.3

2016 quarterly reports submitted to the EDR Board

1.21.1 Shareholder and partner survey measuring responsiveness to opportunities (e.g. leadership, effectiveness/value of relationship, outcomes against objectives, etc.)Staff engagement survey

1.31.1

1.31.2

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Value Proposition

Business Model

* Events, Conventions and Tradeshows

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Murad Al-Katib, EDR Board ChairPresident and CEOAGT Food & Ingredients Inc.

Frank Hart, EDR Vice-ChairPresident and Managing DirectorGreystone Managed Investments Inc.

Tony CoppolaChief Operating OfficerMacPherson, Leslie, Tyerman

Jason DrummondManaging PartnerYork Plains Investment Corp.

Michael FougereMayorCity of Regina

Dale GriesserPresidentAvison Young Commercial, Real Estate

Mark LangPartnerKPMG, LLP

Cari Lemieux General Manager & SK Operations ManagerDays Inn (East)

Marla PrestonHospitality Consultant

Dr. Vianne TimmonsPresident and Vice-ChancellorUniversity of Regina

David Brundige, Q.C.Willows, Wellsch, Orr & Brundige, LLP

Marty KlyneChief Operating OfficerQueen City Sports & Entertainment Group

Board of Directors

President and CEOJohn D. Lee

Commemorative statue of Walter Scott in front of the Saskatchewan Legislature Building

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Economic Development ReginaEconomic Development Regina Inc.

1925 Rose Street Regina, SK S4P 3P1P: 306-789-5099

TF: 1-800-661-5099F: 306-352-1630

E: info@economicdevelopmentregina.comeconomicdevelopmentregina.com I tourismregina.com

Contact us

Economic Development Regina Inc. (EDR) is the agency responsible for advancing economic development and

tourism in the Regina region.