2016 Business Plan

Economic Development Regina Inc.

2016 Business Plan Smart growth through key industry sectors

Summary 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

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.

2

Regina Skyline

Regina at dusk

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.

3

Willow on Wascana Patio

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.

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

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

4.2 The Regina region has a top performing regional tourism ecosystem

EDR CONTRIBUTES TO THE STRENGTH OF REGINA’S ECONOMY AND VIBRANCY OF REGINA AS A PLACE TO VISIT AND LIVE

KEY PERFORMANCE INDICATORS 4.11 Import replacement for key industries/ supply chains 4.12 Expanded markets for key industries/supply chains 4.13 Net new full time jobs within key industries/supply chains 4.14 Start ups within key industries/supply chains 4.15 Investment attraction to Regina region (#)

4.21 Economic impact of events, conventions and tradeshows (ECT) 4.22 Number of visitors to the Regina Region 4.23 Number of person nights in the Regina Region 4.24 Retention and growth of existing/legacy ECT 4.25 Execution of the ‘Alliance for ECT’ (Alliance) Strategy Map 4.26 Execution of the ‘Tourism Leadership Council’ (TLC) Strategy Map 4.27 Regina region visitor experience metrics 4.28 Marketing metrics for the regional audience

2016 TARGETS 4.11.1 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/ provide 4.11.2 The 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 way 4.12.1 Three key industry hub companies with which EDR has partnered will report an expansion; or alternatively announce an intention to expand 4.12.2 EDR 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 chains 4.13.1 EDR will contribute to the development of twentyfive (25) new jobs in the Regina region 4.14.1 EDR will contribute to/facilitate one new business start-up in its key industry hubs/supply chains in the Regina region 4.15.1 EDR’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

4.21.1 Estimated Economic Impact (EEI) of future secured ECT will provide a contribution of $25 million to the Regina Region 4.21.2 Over a three-year cycle (i.e. 2016, 2017, 2018), one major event will be secured with EEI of no less than $50 million 4.21.3 Define, identify, and facilitate the planning and creation of a new, annual signature event for the Regina region focused on attracting a regional audience/visitors 4.22.1 10,000 overnight visitors attracted to the Regina region for future secured ECT 4.23.1 25,000 projected ‘person nights’ for future secured ECT 4.23.2 Develop an online ’person-night’ conversion model 4.24.1 Identify 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 each 4.25.1 Successful implementation and execution of the Alliance strategy based on an assessment by the Alliance partners 4.26.1 Successful implementation and execution of the TLC’s strategy based on assessment by the TLC partners 4.27.1 Establish estimated baselines and targets for improving the visitor experience in existing and new ECT 4.28.1 Increase tourism’s marketing metrics in all initiatives by 10% in targeted regional areas

3.0

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

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

3.2 Develop resource models to support incremental growth initiatives and projects

KEY PERFORMANCE INDICATORS 3.11 Current revenue and two year projected revenues are secure and sufficient to resource core functions

EDR HAS THE NECESSARY RESOURCES AND SYSTEMS THAT SUPPORT THE LONG TERM EFFECTIVENESS OF THE ORGANIZATION

3.21 Current and projected projects have sufficient internal resources and/or partnerships to support project costs

2016 TARGETS 3.11.1 Approved 2016 City of Regina Investment of $1,719,500

3.21.1 Partner/alliance investment (cash & VIK) and third-party contracts in 2016 totalling in excess of $800,000 3.21.2 Undertake and complete an analysis of the opportunity to develop third-party investment partnerships

2.0

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

2.1 Strategic 2.2 Aggregator 2.3 utilization/ of strategic leverage of intelligence to key industry support informed hubs where business decisions Regina Region for both EDR and has a distinct stakeholders advantage

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

2.4 Lead projects 2.5 where opportunities or initiatives exceed scope of our core functions

Communications with stakeholders, shareholder and partners

EDR EXCELS AT DEVELOPING AND DELIVERING ON ITS ECONOMIC DEVELOPMENT PRIORITIES AND CORE FUNCTIONS FOR THE REGINA REGION

KEY PERFORMANCE INDICATORS 2.12 Industry stakeholder satisfaction with EDR relationship

2.21 Internal and 2.31 Key industry 2.41 Project external stakeholder benefits are stakeholder satisfaction with realized satisfaction with competitive information information

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

2016 TARGETS 2.12.1 Industry stakeholder 2.21.1 Further develop the three 2.31.1 survey measuring foundational S&CI pillars effectiveness of EDR’s to deliver on internal and industry development external stakeholder needs strategies and initiatives specific to food manufacturing (e.g. EDR’s value& processing, machinery & add contribution in equipment manufacturing, ECT facilitating growth and and tourism development initiatives, 2.21.2 Development of internal S&CI value-add in leading capacity to include the provision S&CI, collaboration of a EDR ‘Certified Competitive effectiveness, etc.)

Intelligence Analyst”

2.41.1 Improve key industry stakeholder satisfaction levels

Establish 2.51.1 and measure the intended economic development outcomes on projects undertaken by EDR that fall outside its core functions

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

1.1 Excellence in relationship building and collaboration

1.2 Excellence in performance management and reporting

KEY PERFORMANCE INDICATORS 1.11 Key partnerships and relationships are supported by actionable agreements

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

1.21 Quarterly reporting to metrics

Improve key industry stakeholder satisfaction levels from 2015 baseline

1.0 EDR HAS DEVELOPED A “BEST IN CLASS” ORGANIZATIONAL CULTURE, STRUCTURE AND COMPETENCY TO SUPPORT ITS STRATEGY NOW AND IN THE FUTURE

1.31 Organizational assessment

2016 TARGETS 1.11.1 Surveying of partners to establish success in achieving 1.21.1 2016 1.31.1 Shareholder and partner survey defined relationship objectives quarterly measuring responsiveness to 1.11.2 ‘Partner investment’ (ie. Cash and value-in-kind) to reports opportunities (e.g. leadership, increase by forty- three percent (43%) from 2015 (i.e. submitted effectiveness/value of relationship, approximately $254.000) to the EDR outcomes against objectives, etc.)

1.11.3 New partnerships/alliances developed that allow EDR to 1.31.2 Staff engagement survey Board deliver on emerging 2016 priorities

5

Business Model

Value Proposition

* Events, Conventions and Tradeshows

13 6

Board of Directors Murad Al-Katib, EDR Board Chair President and CEO AGT Food & Ingredients Inc.

Mark Lang Partner KPMG, LLP

Frank Hart, EDR Vice-Chair President and Managing Director Greystone Managed Investments Inc.

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

Tony Coppola Chief Operating Officer MacPherson, Leslie, Tyerman

Marla Preston Hospitality Consultant

Jason Drummond Managing Partner York Plains Investment Corp.

Michael Fougere Mayor City of Regina Dale Griesser President Avison Young Commercial, Real Estate

Dr. Vianne Timmons President and Vice-Chancellor University of Regina David Brundige, Q.C. Willows, Wellsch, Orr & Brundige, LLP Marty Klyne Chief Operating Officer Queen City Sports & Entertainment Group

President and CEO John D. Lee

14 7

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

Contact us

Economic Development Regina Economic Development Regina Inc. 1925 Rose Street Regina, SK S4P 3P1 P: 306-789-5099 TF: 1-800-661-5099 F: 306-352-1630 E: info@economicdevelopmentregina.com economicdevelopmentregina.com I tourismregina.com

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