mission chamber connection
August 2010 • Page 5
Public Private Partnerships – A Municipal Opportunity With major infrastructure required for the maintenance and growth of Mission, Public Private Partnerships (P3s) are opportunities for the taxpayer to work with business in fulfilling their needs. Presently, the federal government is offering incentives to local governments to look at P3s to meet the staggering $60 billion infrastructure deficit in Canada. Water, sewer and transportation are key areas that need to be addressed jointly in Mission and Abbotsford to maintain infrastructure for projected growth. Presently, residential and business taxes only meet the needs of the municipal budgets. Taxation rates are continually under fire for not providing the perceived level of services, and both municipalities are struggling with service downloading from the provincial government. BC has had a rocky relationship with P3s, but successes in the last five years have shown that it is an effective tool for infrastructure. Recent successful projects include the Sea-to-Sky Highway,
the Abbotsford Hospital and the Golden Ears Bridge. P3s have good taxpayer value because they meet timely delivery (taking advantage of private sector financing), transfer risk to the private sector (through well written delivery contracts), and create innovation (municipal lowest-bid policy hinders opportunity). Moreover P3 projects attract international investment as they are guaranteed returns for investors, freeing up local tax dollars. Through this process the municipality would continue to retain ownership, control and responsibility of the project. Not all infrastructure projects have P3 potential. A detailed business case that considers life-cycle costs needs to be prepared. This presents an accurate picture if the project would have feasibility A worker helping to build the Abbotsford as a P3; and if not, a better understand- Hospital, a P3 project. ing of the budget will need to be aligned to make the project move forward over infrastructure a certainty, Public Private its life-cycle. Partnerships are opportunities to be conWith service downloading and aging sidered.
Government News Small Business Week 2010
Power Up Your Business. Invest. Innovate. Grow
The province has proclaimed October as small business month. In Mission, small business week will be celebrated October 17-22, culminating in the Mission Business Excellence Awards October 22. As small business rides the wave of the recovering economy, entrepreneurs should be gearing up to seize new opportunities. It is time to seek competitive advantage with dynamic plans,
while still meeting the needs of a changing marketplace. “Rub off your entrepreneurial spirit and remind yourself of the passion that made you take the risk of developing your small business to begin with!” encourages Chamber President Helen Secco. Look for upcoming details of events, educational seminars and information that will spark your business to grow.
Randy Kamp mp pRoudly SeRving the people of miSSion Constituency Office: 22720 Lougheed Hwy, Maple Ridge, BC V2X 2V6 1-888-255-8140 • Email: randy@randykamp.com • www.randykamp.com