1 / 32

Regional Economic Development

Regional Economic Development. Module 1. Regional Economic Development. to discuss provincial economic indicators in an attempt to influence and support economic development efforts at the regional level. Objectives:. Module 1. Objectives (contd).

elke
Download Presentation

Regional Economic Development

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Regional EconomicDevelopment Module 1

  2. Regional Economic Development • to discuss provincial economic indicators in an attempt to influence and support economic development efforts at the regional level Objectives: Module 1

  3. Objectives (contd) • to explore relationships between local economic development strategies and provincial economic development policies • to discuss the components of a comprehensive economic development strategy and determine their relevance at the community, regional, and provincial levels Module 1

  4. Regional Economic Development “Today, we lead the country in GDP growth, job creation and new investment activity. That is why it is so important now to refocus our efforts and ensure the momentum we have gained is not lost. A renewed economic agenda will focus on broad directions and overall policies to build on the new economy, forge partnerships, strengthen our traditional resource industries, and gain full and fair benefits from major resource developments.” Brian Tobin Module 1

  5. Regional Economic Development those measures taken to improve income, employment, and productivity levels, the end goal being the elimination of disparities Module 1

  6. Measuring Economic Performance • Gross domestic product (GDP) • Employment levels • Per capita incomes Module 1

  7. Source: Government of Newfoundland and Labrador. The Economy 1999. St. John’s: The Queen’s Printer, 1999. Module 1

  8. Source: Government of Newfoundland and Labrador. The Economy 1998. St. John’s: The Queen’s Printer, 1998. Module 1

  9. Source: Government of Newfoundland and Labrador. The Economy 1999. St. John’s: The Queen’s Printer, 1999. Module 1

  10. Source: Government of Newfoundland and Labrador. The Economy 1998. St. John’s: The Queen’s Printer, 1998. Module 1

  11. Major Contributors toEconomic Growth • oil production • mining industry • fishery • manufacturing • tourism Module 1

  12. Impacts of Increased GDP on the Provincial Economy • lower provincial debt; • balanced budgets; • improved community services; and • increased employment. Royalties and taxes should be adding to provincial coffers, resulting in: Module 1

  13. Impacts (contd) For now, the provincial budget will not increase substantially. • transfer and equalization payments make up significant part of budget • reduction in transfers as provincial revenue increases But: Federal recognition of the need for self-sufficiency relaxes the transfer clawback. Module 1

  14. Other Impediments • resources exported with few or no secondary benefits • contractual commitments ensure the status quo But: The provincial government is insisting on better benefits for future development. Module 1

  15. Positive Impacts • increased employment and spin-off activity • new business start-ups • new skills development • state-of-the-art development infrastructure Module 1

  16. Issues for Communities • Developments depend on need, return on investment, and resource sustainability. • Communities have little to say about location, etc. • Many communities will still be vulnerable. • Solutions must still be found by and in communities. Module 1

  17. Community Approach • continued exploitation of traditional industries (fishery, tourism) • opportunities in information, technology, the environment • community-based enterprises to complement large-scale developments Module 1

  18. The Success of the Fishery • In 1992, communities were devastated and in shock. • In 1995, people looked at recovery and at reestablishing a way of life. Module 1

  19. The Success of theFishery (contd) • This resulted in: • secondary processing; • diversification into other species; • aquaculture development; • support services; and • increased market value. Module 1

  20. value-added activities spin-offs support infrastructure capital goods producer services Implications for Other Sectors Direct Linkages Downstream Upstream Module 1

  21. Implications for Other Sectors (contd) Indirect Linkages • local consumption • traditional services • reinvestment of profits in HR and infrastructure development Module 1

  22. Implications for Other Sectors (contd) Linking external opportunities to development strategies: • identification of opportunities • information and technology • ocean research and development • environmental protection • employment of youth • mentoring programs and access to investment Module 1

  23. HR Development Infrastructure Development Investment Capital Entrepreneurship Mentoring Regional Strategy IT Ocean R&D Environment Natural Resources Module 1

  24. 1. Attracting outside investment 2. Public sector programs and infrastructure 3. New firm creation 4. Existing firm expansion 5. Community control and ownership 6. Local sector strategies 7. Import substitution 8. Niche marketing Development Strategies Module 1

  25. Building the Capacity • undertaking a systematic approach • lack of community control over location of large-scale developments Module 1

  26. An Integrated Approach • good infrastructure • educated population • economic diversification • business, social, and economic development integration Module 1

  27. Strategic Planning • based on community vision and strengths • Are we planning for economic development or for the status quo? • Is economic development based on social programming? • Do strategies involve private investment or government funding? Module 1

  28. Organizational Development • venue for decision-making • partnership development VS competition for resources • clarification of roles and responsibilities • maximization of skills and resources • identification of professional assistance Module 1

  29. Education and Training • Secondary level • introduction to CED principles and practices • Post-secondary level • leadership and organizational training • skills training to complement regional strengths • Both levels • entrepreneurship training Module 1

  30. Champions • championing closely related to leadership Champions: • focus those involved; • motivate and challenge; • bring out commitment; and • believe even when others become discouraged. Module 1

  31. Employment • traditionally pursue labour-intensive development. • Opportunities result in short-term or government-funded ventures. • Government programs are designed to provide a bridge. CD practitioners: Module 1

  32. Employment (contd) • should see the value of technology. • contributes to competitiveness • should evaluate the contribution of technology and labour for project feasibility. Module 1

More Related