Regional Economic Development knows no borders...

The report titled: The Great Mosaic: Reviving Ontario’s Regional Economies outlines how government at all levels can work with industry to unleash the potential of Ontario’s regional economies and reinforce the competitiveness of the province as a whole.

“We urge policymakers to take a modern and comprehensive approach to economic development by leveraging the existing competitiveness advantages of Ontario’s regions, and implement deliberate strategies to support long-term growth in communities across the province,” Rocco Rossi, President and CEO of the Ontario Chamber of Commerce.

In all, the report offers 17 recommendations directed at the Governments of Canada, Ontario, and/or municipalities within Ontario:

1. Embed stakeholder engagement within decision-making structures.
2. Implement longer-term budgets for economic development agencies and programs.
3. Improve SME access to economic development information and programs via regional contact points.
4. Promote regional collaboration.
5. Prioritize economic reconciliation with Indigenous peoples.
6. Enhance the use of data.
7. Prioritize infrastructure investments that unlock regional economic growth.
8. Modernize regulations that inhibit economic development.
9. Champion Ontario’s brand.
10. Focus business supports on enhancing productivity and accelerating growth.
11. Cultivate a dynamic and inclusive ecosystem for workforce and talent development.
12. Address regional labour market needs by reforming immigration systems and encouraging worker mobility.
13. Work through post-secondary institutions and innovation centres to improve technology transfer.
14. Develop policies to fill the gaps in Ontario’s innovation capacity.
15. Remove regulatory barriers that deter private sector investments in broadband.
16. Ensure public funding for broadband is targeted, coordinated, and streamlined.
17. Facilitate value-add cluster development.

Along with a half-dozen pictures of the area by Justin Soule for Peterborough & the Kawarthas
Tourism, the collaborative nature of economic development in Peterborough is highlighted in the report:
"Peterborough and the Kawarthas Economic Development (PKED) delivers economic development services through a Memorandum of Understanding with the City and County of Peterborough.

To achieve its mandate, PKED partners with the Greater Peterborough Chamber of Commerce, Community Futures Peterborough, the Innovation Cluster, the Downtown Business Improvement Area, the Workforce Development Board, and various other organizations in the region.

This collaboration has resulted in several joint projects and a new atmosphere of cooperation.  Since 2016, many of these agencies have moved their offices to Venture North, a three-story business hub, giving them a level of physical proximity that will help foster even more collaboration in years to come.

In 2017, PKED entered into a multi-year partnership with two First Nations and nearby municipalities to pursue economic development projects of mutual benefit. This unique partnership is part of the Community Economic Development Initiative (CEDI) implemented by the Federation of Canadian Municipalities and the
Council for the Advancement of Native Development Officers."

"One thing we've come to realize is the need for municipal, provincial, and federal commitments to regional economic development planning that highlights the possibilities rather than the borders," says Stuart Harrison, President & CEO, Peterborough Chamber of Commerce. "Finding ways to work across borders
benefits all local communities."

This is also the time to have those conversations as the City, County and Townships are in the process of developing and feeding into official planning documents.  These
documents will outline development in our area for the next 25 years and how the City and County plan to achieve population and job growth targets set by the province.
 
The Ontario Chamber of Commerce and Peterborough Chamber are hosting the Associate Minister for Small Business and a panel discussion on Scaling Up Business as a part of the report launch.
The event is Friday, September 27th, 2019 at Venture North from 11:30 AM to 2 PM.

Read the Report