Initiative

The Shuswap Economic Development Society (SEDS) completed its Economic Development Strategy. SEDS engaged Rynic to develop a strategic and focused Investment Attraction Strategy as a key implementation initiative of the Economic Development Strategy.

Investment Attraction Strategy – a strategic plan for attracting business investment, based on a clear set of objectives that can be achieved by implementing carefully thought-out tactics.

Investment attraction strategy addresses fundamental questions that shape next generation job creation and prosperity:

1. What do we need to do to enable investment and otherwise be investment-ready?
2. What are our key investment opportunities?
3. What do we need to do to generate this investment?

Imagine investment attraction as a see-saw. On one side Investment Readiness (“Friendliness”) – work on the enablers that generate investment: land, broadband, infrastructure servicing, transportation connectivity, marketing, economic development organizational capacity, investment & housing choice-enabling planning policy. On the other side, Investment Opportunity – identification of specific investment opportunities a community seeks. For Shuswap, initiative work revealed a need to focus 80% of effort on readiness as a key gateway to achieving ability to achieve the 20% focus on specific opportunity identification.

A resulting 25 readiness tactics identified value proposition, sector targeting supported by associated marketing tactics, and readiness framework and associated initiatives in each of Organization, Assessment, Entrepreneurship Development, Community Engagement, Marketing and Promotion, and Infrastructure Development and Investment Planning.

A community engagement process identified a focused investment attraction opportunity shortlist that was further action-planned:

Next 2 Years
1. Housing Innovation Construction
2. Construction Sector Development / Promotion
3. Beverage / Natural Food Manufacturing
4. Retail / Services Opportunity Promotion
5. Sorrento / Blind Bay Urban Hub

2+ Years
1. Village Centres Rezoning for Densification / Mixed Commercial – Residential
2. Healthcare and/or Professional Services Building Construction
3. Agrihood – Area C
4. Participation in Regional Healthcare Professionals Recruitment
5. Hotel / Resort Opportunity

The Investment Attraction Strategy was further supported with development of each of a crystalizing Vision Statement and Development Vision to guide actions, and an Advocacy Agenda focused on achieving enabling breakthroughs with respect to infrastructure, housing choice and affordability, and urban planning policy.

An Implementation Plan with associated budget, and brand elements were developed to activate the Strategy.