Ensuring that Peterborough is Future Ready

The saying goes that if you don’t have a destination, any road will take you there. For Peterborough and the Kawarthas Economic Development (PKED), their new strategic plan, launched this week, provides the road map to their newly minted destination; “To be the most sustainable and innovative community and economy in Ontario”.

Called Future Ready, the plan captures four objectives:

1. Promote Peterborough & the Kawarthas as a Destination of Choice for Visitors, Business, Entrepreneurs, Investors and Students
2. Leverage the Region’s Mix of Rural and Urban Assets and Business Build A Job-Ready, Highly Skilled and Innovative
3. Workforce of the Future Support All Phases of
4. Entrepreneurship, While Also Supporting Existing Businesses
   
   

When it comes to the economy, the only constant is change, and there are a number of factors that are bound to test even the best-laid plans. Globalization is being challenged at every turn, climate change is changing everything, regulation increasingly affects what we can build and where we can build it, and, coupled with demographics, affects where we work and live. Population growth will bring significant change to the area, with a projected 41% increase in the number of residents by 2041.

Much will depend on our ability to adapt to these many forces, but we have proven that we can adapt to change. No longer do we have 6,000 lunch pail workers at GE, or 1,500 driving down Highway 115 to GM. And yet, manufacturing is still one of our strongest pillars of the local economy, along with agriculture and tourism. Increasingly important are the cleantech, aerospace, the water and wastewater sector, the trades and technology centre at Fleming, a burgeoning entrepreneurial community and more. We call it TeamPtbo, and collaboration between all of these elements will be critical in helping PKED deliver on its strategy.

The Future Ready plan also has the United Nations report “2030 Agenda for Sustainable Development” in mind, particularly:

• Quality Education
• Decent Work and Economic Growth
• Industry, Innovation, and Infrastructure
• Sustainable Cities and Communities
• Partnerships for the Goals

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If you want to dig deeper into the plan, you’ll find 18 specific “Actions” to support the four main objectives. These include everything from creating a crisp, clear value proposition for the region; delivering a multi-year, multi-media marketing strategy and an earned media strategy; to developing customized strategies for growth in each targeted sector; championing investments in regional infrastructure; building on business attraction and retention programs; increasing connection between business leaders and college and
university students, to make staying in Peterborough an attractive option; to supporting our strong entrepreneurial culture, including working with under-represented groups such as First Nations, new Canadians, women and youth.

From the Chamber perspective, we have enjoyed a close working relationship with PKED, including the Future Ready Business Summit that we are partnering on next week (March 11). We look forward to continuing that partnership to help strengthen the business community in Peterborough.

Learn More About PKED Future Ready Strategic Plan