Ramp Upvitaleconomy.com/wp-content/uploads/2013/12/RampUP_BC.pdf · ViTAL Economy, Inc. 410-321-1484 [email protected] . SIGNAL HILL ADVISORS ©2004 ViTAL Economy, Inc. 2 It

SIGNAL HILL ADVISORS

©2004 ViTAL Economy, Inc.

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Bringing Out the Best in British Columbia's Regional Economies

December 15, 2004

Ramp Up !

Sustainable Economic Roadmap

Prepared By ViTAL Economy, Inc.

410-321-1484 [email protected]



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It is with great pleasure that ViTAL Economy presents the results of over 10 months of regional engagement through RAMP UP! These results have been combined with international, national and regional economic and market segment research in the form of a Sustainable Economic Roadmap (Roadmap) for British Columbia’s Regional Economies. RAMP UP! recommendations described in the Roadmap offer opportunities for British Columbia regions, outside of the Lower Mainland, to achieve significant economic growth between 2005-2010 by

•  Adding 113,000 new additional jobs paying in excess of $42,500 per year •  Increasing by $7 billion annual wages across all of the regions addressed by the Roadmap •  Doubling the percentage of GDP contributed by Knowledge Based Enterprises within regions •  Lowering unemployment rates on average across Roadmap regions from 9.1% to 7% •  Improving the labor force participation rate by 2 full percentage points •  Raising average wage of the Roadmap regions by 20% through workforce development strategies •  Increasing economic diversity of the Roadmap regions •  Building a multi-million dollar equity and debt financing resource to serve Roadmap regions •  Providing a long-term sustainable regional and provincial framework that is multi-sector funded

This Roadmap provides a realistic and hopeful perspective on how the remotest of BC’s regional economies can collaborate to become dynamic and diverse economic engines of the 21st century economy. ViTAL Economy has worked with some of the most remote, beautiful and distressed economic regions of North America. We deeply believe that British Columbia is uniquely poised to take advantage of significant global and quality of life trends that are uniquely indigenous to British Columbia, some of which are already underway.

We want to thank TELUS Communications for sponsoring RAMP UP! and the Roadmap as a serious and important private sector contribution to Bringing Out The Best in British Columbia. We also want to thank the Ministry of Small Business and Economic Development, which has actively facilitated our access to regional and provincial economic, business, government and community leaders. Most importantly we want to thank all of the hundreds of regional participants in RAMP UP! We would not have been able to compile the depth of regional knowledge and understanding contained in the Roadmap without your input and cooperation. We also thank each of you for your overwhelmingly positive response to RAMP UP!

We look forward to reviewing the Roadmap research, findings and recommendations with you as well as discussing implications and interest by any of the regional economies in implementing Phase 2 of RAMP UP! in 2005.

Frank Knott, President Vital Economy, Inc.



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Terms of Use

Limited License. Subject to these Terms of Use, we grant to the local sponsor and its funding partners for this ViTAL Economy RAMP UP! Report a non-exclusive, non-transferable, limited license to access and use the information, text, graphics, data, and other content in this report for their personal, noncommercial use. You may also incorporate portions of the content of this report in documents and other works of authorship that are mainly the product of your own intellectual effort, and may distribute and disseminate those documents and other works, but only if neither you nor anyone else receives any payment or other value that is primarily attributable to the content used.

Proprietary Rights. You acknowledge that the content of this report is the property of ViTAL Economy, Inc. and is protected by copyright, trademark and other intellectual property laws. You agree not to use this content for any unlawful or unauthorized purpose, or in any manner that would harm the reputation of ViTAL Economy, Inc. or its partners. You agree not to use any name, emblem, logo, or trademark of ViTAL Economy, Inc. in any manner, except in the form of attribution and copyright notice required by these Terms of Use.

Copyright Notice. On any print-out, download, or copy of this content you make that does not already include a copyright notice, you agree to include a copyright notice as follows: "Copyright © 2004, ViTAL Economy, Inc. All rights reserved.”



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This Roadmap contains the results of an economic competitiveness assessment conducted for the Province of British Columbia. This work is being completed as part of the British Columbia Ramp Up!

Project which is an effort sponsored by TELUS to promote sustainable economic development in the non-metro regional

economies of British Columbia.

Although this Roadmap can stand alone, it was designed to provide maximum impact through presentation in a seminar format. This

allows a broad cross section of regional stakeholders to fully absorb the purpose of this type of analysis and understand the implications

of its recommendations for both the province and the regions.

Due to the size of this 8 MB report, it is important to open it on a computer which has both adequate available memory and a recent

version of Microsoft PowerPoint. You will know that you are having a problem if Red X’s appear on slides in lieu of slide content. Refer to

the Microsoft website for more detailed information on how to overcome the known “Red X” problem in PowerPoint.



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TABLE OF CONTENTS

  Background … 6

  Analytical Approach … 19

  Indigenous Resources Mapping … 24

  Cluster Identification and Description … 30

  Industry Cluster Assessments … 35

  Enabling Environment Assessment … 340

  British Columbia’s Competitiveness … 348

  Regional Perspectives … 364

  2010 Games-Leveraging Regional Benefits … 421

  Economic Roadmap & Recommendations … 442

  Bibliography … 484

  Agriculture - High Value Agriculture … 36   Agriculture - Wine … 52   Technology - Wireless … 65   Technology - Specialty Computer Chips … 81   Technology - Biotechnology … 95   Technology - Forest Technology … 113   Forest Products - Raw Logs … 149   Forest Products - Panels … 164   Forest Products - Furniture … 183   Forest Products - Alder … 204   Energy - Fuel Cells / Hydrogen … 222   Marine - Salmon Aquaculture … 238   Marine - Shellfish Aquaculture … 253   Marine - Yacht Building … 273   Tourism - Adventure & Upscale Tourism … 300   Mining - Mining … 328



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  Background

  Analytical Approach

  Indigenous Resources Mapping

  Cluster Identification and Description

  Industry Cluster Assessments

  Enabling Environment Assessment

  British Columbia’s Competitiveness

  Regional Perspectives

  2010 Games--Leveraging Regional Benefits

  Economic Roadmap and Recommendations

  Bibliography



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The objective of the RAMP UP! project is to build on the current government’s economic revitalization initiatives to boost British Columbia’s regional economic development initiatives and develop an Economic Roadmap for the Province

BACKGROUND…

•  Builds on local and regional economic development activities

•  Is supported by local stakeholders in the regions, the BC Ministry of Small Business and Economic Development and the British Columbia Economic Development Association

•  Boosts BC’s regional economic development initiatives and in so doing helps shape a healthy and robust economy throughout BC

•  Maximizes and builds on current government efforts to build BC’s economy

SUSTAINABLE -- AND ACTIONABLE -- ECONOMIC DEVELOPMENT STRATEGIES FOR BRITISH COLUMBIA’S REGIONS AND AN ECONOMIC

ROADMAP FOR THE PROVINCE



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TELUS asked ViTAL Economy to answer a series of questions about the future direction of economic development in British Columbia’s future--with a particular focus on British Columbia's regions outside of the Lower Mainland and Victoria

  How well positioned is British Columbia to compete in the future world economy?

  How well positioned are British Columbia’s industry sectors to compete internationally?

  What strategic initiatives should British Columbia’s regions pursue to compete in the future world economy?

  Given the above, what economic roadmap must British Columbia follow to generate the highest standard of prosperity for its citizens?

BACKGROUND...

The Economic Roadmap developed for this work is strategic in nature and should not take the place of detailed economic development studies at the provincial or regional levels



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RAMP UP! builds on previous economic development work and adds industry cluster and enabling environment assessments to identify a focus and set of priorities for economic development in British Columbia’s regions

BACKGROUND…

Source: Vital Economy and Signal Hill Advisors

Future Economic Development Focus and Goals

•  Diversify economy •  Create sustainable economic

growth •  Create jobs which exceed

average national wage •  Create jobs with associated

benefits •  Increase workforce

capabilities •  Attract outside capital •  Deepen and strengthen

capabilities of existing industry clusters

Assessing BC’s Industry Clusters

INDIGENOUS COMPETITIVE ADVANTAGE

•  People •  Location

•  Indigenous Assets •  Infrastructure •  Technology MARKET ATTRACTIVENESS

Low High

Low

High High

Potential Clusters

Assessing BC’s Enabling Environment

ENABLING ENVIRONMENT

ANALYSIS Legal/Regulatory Environment

Geographic & Public/ Private Sector Collaboration

Financial Resources

Previous Work and Interviews •  Provincial-level government, think-tank and consultants’

reports •  Regional-level economic development assessments •  Interviews at the regional, provincial national and

international level with private and public sector leaders



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RAMP UP! is focused on British Columbia’s natural resource based, technology, and emerging service sectors because these sectors are the most significant drivers of British Columbia’s regional economies and British Columbia’s economy as a whole

BACKGROUND…

11.4%

6.9%

5.0%4.80%

51.3%

7.5%

3.0%4.2%

5.9%

2003

Primary Resources

Resource DependentManufacturingResourceSupportingGoods and ServicesTourism

Technology

Utilities/PublicAdministrationOther Services

Construction

Other Goods

NATURAL RESOURCE INDUSTRIES, TOURISM AND TECHNOLOGY CONTRIBUTE ~40% OF GDP

…BUT CONTRIBUTE OVER 100% OF GOODS EXPORTS EQUIVALENT VALUE…

~40% OF GDP

…AND ARE MAJOR PRIVATE SECTOR DRIVERS IN BC’S REGIONAL ECONOMIES

•  Forestry, wood processing • Public Sector •  Mining, mineral processing • Film Production •  Fishing/trapping • Transfer Payments •  Tourism • Other Income •  High Tech industries •  Construction

Top Economic Drivers in Regional BC

Natural Resource Based Exports 72%

Inbound Tourism (as % of Exports)* 32%

Technology Based Exports 2.3% (% of Exports)

Source: BC Stats, BC Progress Board, Vital Economy and Signal Hill Advisors Note: *Revenue from inbound tourists calculated as a percentage of BC’s exports



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•  Provides the opportunity to harmonize the multiple but separate Federal, Provincial, Regional, Municipal & First Nation Councils of Government to facilitate regional growth

•  Optimizes the wealth-generation capacity of the regional resource base

•  Enables all economic areas of the region to share in the wealth generation benefits of an expanding economy and value added workforce

•  Addresses the need for regulatory consistency across multiple levels of government -- not just provincial -- to enable a more competitive time to market environment

•  Conforms to government initiatives and programs such as “On the Ground”, promotion of regional economic frameworks, Heartlands Economic Strategy and Fast Track Programs

RAMP UP!’s regional focus insures inputs and benefits are generated from the ground up, not from Vancouver or Victoria into the regions and is consistent with the Government’s efforts to promote economic development at the regional level

BACKGROUND…



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RAMP UP!’s regional focus is also driven by the opportunity to further diversify regional economies away from a dependence on public sector employment, transfer payments* and natural resource industries

EXECUTIVE SUMMARY…BACKGROUND…

ECONOMIC DIVERSIFICATION PRIMARY ECONOMIC DEPENDENCIES

Source: BC Stats *Transfer Payments includes UIC, Welfare and other income assistance payments”



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“A cluster is a geographically proximate group of interconnected companies and associated institutions in a particular field, linked by commonalities and complementarities.”

Michael Porter, “On Competition”

Harvard Business Review (1998)

“Clusters are networks of production of strongly inter-dependent firms (including specialized suppliers) linked to each other in a value adding production chain. In some cases, clusters also encompass strategic alliances with universities, research institutes,

knowledge intensive business services, bridging institutions(brokers,consultants) and customers.”

Theo J.A. Roelandt & Pim den Hertog, Boosting Innovation, the Cluster Approach, Cluster Analysis and

Cluster Based Policy Making in OECD Countries, OECD 1999

RAMP UP!’s economic diversification assessment is based on an industry cluster approach using (1) regional collaboration to achieve critical mass of resources and (2) connectivity resources to overcome geographic remoteness

BACKGROUND…

What is an industry cluster?



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•  Develops a robust, concentrated knowledge base in a particular industry and supporting industries--competitive advantage results from access to knowledge

•  Increases the productivity of companies based in the area

•  Drives the direction and pace of innovation

•  Stimulates the formation of new businesses which expands and strengthens the cluster

Firms in an industry cluster produce better business results Non-Metropolitan workers in industry clusters earn 13% higher wages

Source: Conference Board of Canada, Clusters of Opportunity, Clusters of Risk, August 2004 & US Department of Commerce 1997

Industry clusters can make a significant contribution to regional economic growth

BACKGROUND…



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ViTAL Economy conducted over 400 interviews with provincial, regional, private sector and industry officials and experts and examined prior economic development reports and tapped a wide variety of economic and business data sources

  Provincial Government & Crown 44 Corporation Officials

  Regional Leaders and Citizens 281

  Think-Tanks/Consulting Firms 12

  Private Industry Leaders 29

  Industry Associations 12

  Industry Experts 32

  Venture Capital Partners 11

  Total 421

  Prior provincial and regional economic development report -- over 350

  BC Stats, Canadian Federation of Independent Business,

  Market research —  Dunn & Bradstreet —  IDC —  GaleNet —  Hoovers

  Investment Analyst Reports —  Merrill Lynch —  Goldman Sachs

  Industry Associations Publications

  General Research

Interviews Other Data Sources*

BACKGROUND…


* Please see bibliography for a detailed list of data sources



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• Hosted a series of regional meetings with economic development officials and MSBED staff to review our intentions and elicit their participation and input for Ramp Up!

• Hosted an MLA dinner in fall of 2003 to review our RAMP UP! intentions and to elicit feedback

• Conducted series of pre-consultations with each region’s participants prior to the workshops

• Conducted seven regional workshops in the first half of 2004

• Conducted 24 post-workshop consultations with the regions

• Completed surveys of over 200 regional workshop participants

• Conducted a workshop in Terrace for the Northwest Tribal Treaty Council

• Interviewed dozens of provincial and regional industry and government leaders as part of Roadmap research

• Ongoing meetings and briefings with Ministers/MLAs/Key Stakeholders

RAMP UP!’s recommendations are based on extensive discussions in the regions and with MLAs

BACKGROUND…



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Ramp Up! directly responds to the PIC Report recommendations for promoting Innovation and commercialization in rural British Columbia

1.  Strengthen the ability of communities and regions in planning, developing and implementing strategies and actions to improve innovation performance

2.  Enhance the research infrastructure serving the regions

3.  Develop and retain a highly skilled workforce to support innovation

4.  Increase access to financing particularly at the early stages of business development

5.  Assist in the development of access to markets for regional innovation companies

6.  Foster an innovation culture through awareness programs and recruitment strategies

7.  Improve the business environment for innovation through sharing best practices related to management, high tech business start-up support and entrepreneurial training

8.  Promote the development of new rural clusters where promise is shown and act as a catalyst to the enhancement of existing clusters in all regions

BACKGROUND…

The PIC report identified eight strategic recommendations as priorities to Improve innovation and science & technology commercialization in rural BC

Source: Promoting Commercialization and Innovation Final Report, April 2003



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Ramp Up! Is also consistent with the BC Progress Board ‘s recommendations for increasing the strength of British Columbia’s economy by 2010

Key Progress Board Recommendations

•  Target Economic Growth by increasing Real GDP per Capita

•  Target Standard of Living by raising Real Personal Disposable Income

•  Target Employment by increasing Jobs and the Labor Participation Rate

•  Increase the Real Average Hourly Wage beyond the Cost of Living

•  Increase Productivity by increasing Real GDP per Hour Worked

•  Increase Exports by Expanding Markets

•  Retain Highly Skilled Workers and Innovators by lowering the Tax Rate

•  Increase Business Investment to insure Long-Term Economic Growth

•  Increase Research & Development to build Innovation and create Wealth

Source: BC Progress Board

BACKGROUND…



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  Background










  Bibliography



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Our approach uses industry cluster and enabling environment analyses to identify attractive economic development opportunities, suggested legal and regulatory reform initiatives and an overall economic roadmap for British Columbia

ANALYTICAL APPROACH…


DELIVERABLES

•  Assessment of BC’s regional-based industry clusters

•  Identification of assets that BC can use to leverage economic diversification and growth

•  Strategic analysis of current and potential markets for BC’s goods and services

•  Identification and sizing of new economic opportunities for BC’s regions

•  Assessment of changes that must be made in BC enabling environment to promote economic growth

•  An economic roadmap for BC

INDUSTRY CLUSTER ANALYSIS

INDIGENOUS COMPETITIVE ADVANTAGE


•  Indigenous Assets •  Infrastructure •  Technology MARKET ATTRACTIVENESS

Low High

Low

High High

Potential Clusters

ENABLING ENVIRONMENT ANALYSIS


ANALYSIS Legal/Regulatory Environment

Geographic & Public/ Private Sector Collaboration

Financial Resources



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Asset mapping uses primary and secondary research to identify what economic assets are present at the regional level throughout British Columbia that can be leveraged


Source: Signal Hill Advisors


INDIGENOUS ASSET

ADVANTAGE


•  Indigenous Assets

•  Infrastructure •  Technology

MARKET ATTRACTIVENESS Low High

Low

High High Potential Clusters

ASSET MAPPING ACTIVITIES

•  Primary and secondary research on indigenous assets at the regional level

•  Asset mapping at the regional level •  Asset quality assessments •  Identification of cross-Provincial synergies

ASSET MAPPING DELIVERABLES

IDENTIFICATION OF ASSETS AT THE REGIONAL LEVEL THAT BC

CAN USE TO LEVERAGE ECONOMIC GROWTH AND

DIVERSIFICATION



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Market attractiveness assessment identifies which markets will be attractive for British Columbia’s products and services over the long-run




INDIGENOUS ASSET

ADVANTAGE


•  Indigenous Assets

•  Infrastructure •  Technology

MARKET ATTRACTIVENESS Low High

Low

High High Potential Clusters

MARKET ATTRACTIVENESS ASSESSMENT ACTIVITIES

•  Market Sizing • Demand Drivers

•  Future Demand • Supply Drivers Projections

•  Supply/Demand • Profitability Analysis Projects

MARKET ATTRACTIVENESS DELIVERABLES

IDENTIFICATION OF TARGET MARKETS FOR BC THAT CAN

LEVERAGE ECONOMIC GROWTH AND DIVERSIFICATION



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Market attractiveness assessment identifies which markets will be attractive for British Columbia’s products and services over the long-run



INDUSTRY CLUSTER SEGMENT ANALYSIS

INDIGENOUS ASSET

ADVANTAGE •  People

•  Location •  Indigenous Assets

•  Infrastructure •  Technology MARKET

ATTRACTIVENESS

Low High

Low

High

High Potential Segments

MARKET ATTRACTIVENESS ASSESSMENT ACTIVITIES

•  Market Sizing • Demand Drivers

•  Future Demand • Supply Drivers Projections

•  Supply/Demand • Profitability Analysis Projects

MARKET ATTRACTIVENESS DELIVERABLES

Identification of Market Segments for Clallam that can Leverage Economic

Growth and Diversification



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Enabling environment analysis identifies required improvements in collaboration and availability of financing and changes in laws and regulations that must be completed to help drive economic growth

ENABLING ENVIRONMENT ANALYSIS


ANALYSIS

Legal/Regulatory Environment

Geographic & Public /Private Sector Collaboration

Financial Resources

COLLABORATION DELIVERABLES IDENTIFICATION OF WHAT NEEDS TO BE

DONE TO IMPROVE PROVINCIAL AND REGIONAL AND PUBLIC/PRIVATE SECTOR COLLABORATION TO DRIVE ECONOMIC DEVELOPMENT AND DIVERSIFICATION

COLLABORATION

FINANCIAL RESOURCE DELIVERABLES

IDENTIFICATION OF FINANCING AVAILABILITY GAPS THAT MUST BE FILLED TO HELP DRIVE ECONOMIC

DEVELOPMENT AND DIVERSIFICATION

LEGAL/REGULATORY DELIVERABLES

IDENTIFICATION OF CHANGES IN LAWS AND REGULATIONS THAT WILL HELP DRIVE

ECONOMIC DEVELOPMENT AND DIVERSIFICATION

ACTIVITIES

Primary and secondary research on pubic/private sector collaboration, availability of financing, and

the legal regulatory environment




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  Background








  2010 Games -- Leveraging Regional Benefits


  Bibliography



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INDIGENOUS RESOURCE MAPPING…

The reasons that you draw a roadmap before exploring new territory are intricately connected to planning for economic revitalization.

  Know where you are

  See where you have been

  Know where you are going

  Find the best route

  Find an alternate route

  Determine what to avoid

  Make connections

  Determine who to visit with

Successful Regional Economic Strategies require the same kind of planning.



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REGIONAL PERSPECTIVES…ASSET MAPPING SUMMARY…

Ramp Up ! Roadmap Success Cycle

Asset Mapping starts here

ViTAL Economy

Innovation

Opportunity Realized

Measures of Success

Short / Long Term Wins

Connect the Dots

Barriers

Barrier Strategies

Local Opportunity

Local Innovation

Global Innovation

Industry / State

Best Practices

Who are we?

Knowledge



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Each region's indigenous resources were mapped across multiple categories to identify the assets in each region that could be leveraged for economic development

•  Natural

•  Human

•  Knowledge

•  Cultural

•  Geographic

•  Excellence

•  Infrastructure

•  Government

MAPPING CATEGORIES

Source: ViTAL Economy and BC Stats

Note: Mainland/Southwest was not included

in the mapping




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ViTAL Economy's Indigenous Resources Map captures local feedback from each region across all categories of indigenous resources, which are then assigned to the Industry Clusters and Market Segments in the Strategic Roadmap

TYPE CATEGORY SUB-CATEGORY INDIGENOUS RESOURCE VC TO EK WK CB NW NE CLUSTER MARKET

Economic Development Region Market OpportunityBritish Columbia - Ramp Up! Indigenous Resource Map

Natural Farms Oilseed & Grain Oats X

Natural Farms Vegetables Asparagus X Agriculture High Value

Natural Farms Vegetables Cabbage X Agriculture High Value

Natural Farms Vegetables Garlic X Agriculture High Value

Natural Farms Vegetables Mushrooms X Agriculture High Value

Natural Farms Vegetables Organic X X X Agriculture High Value

Natural Farms Vegetables Potatoes X X X X Agriculture High Value

Natural Farms Vegetables Tomatoes (Hot House) X Agriculture High Value

Natural Fish Aquaculture Fish Farming X Marine Salmon

Natural Fish Aquaculture Salmon X X Marine Salmon

Natural Fish Aquaculture Clams Marine Shellfish

Natural Fish Aquaculture Geoduck Clams X Marine Shellfish

Natural Fish Aquaculture Oysters X Marine Shellfish

Natural Fish Aquaculture Shellfish Farming X Marine Shellfish

Natural Fish Aquaculture Tilapia X

Not every resource links to current Cluster and Market Segment Opportunities. Additional opportunities and resources may be added to the map as regional stakeholders use it as a dynamic tool to map the assets of their new economies.

Double-clicking on the resource portion of the table below will open an Excel model, that details all of the resources that were discovered in the feedback from regional stakeholders. This worksheet is also sorted by Cluster and Market Segment.


Source: ViTAL Economy Analysis of Workshop, Interviews and Questionnaire Results



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The Strategic Roadmaps worksheet in the Indigenous Resources Model then links the Indigenous Resources Map to the key recommendations that are made in the detailed Roadmap analysis of each Market Segment Opportunity

The Excel files that are opened by this slide and the previous slide can be saved to disk as Excel files that are independent of this PowerPoint presentation. The Read Me worksheet in the Excel file highlights key instructions for its use.

Double-clicking on the table below will open the entire Roadmaps worksheet in the Indigenous Resources Excel model. Please note that the model that is opened from this slide is a separate copy from the model that is opened in the previous slide.

1. Agriculture - High Value

a. Establish standards for organic products so BC producers can achieve better appearance and quality

b. Review government regulations to determine which if the government can to more to catalyze the development of BC’s organic and natural food industry

c. Develop BC “branded” products that would produce a higher return in North American markets and distinguish BC’s organic and natural products

d. Develop export strategies for large North U.S. market in attractive segments such as fruit and vegetables

e. Strengthen R&D focused on developing species and production technologies specific to British Columbia

2. Agriculture - Wine

a. Concentrate on the boutique segment of the wine market because British Columbia can not compete as a large-scale producer

b. Continue to increase quality through the VQA to compete with other producers making boutique wines

c. Increase marketing of BC wines outside of British Columbia since domestic production of boutique wines could exceed domestic consumption of these wines

d. Continue research in areas that can leverage BC growing conditions, i.e., yeasts, to improve the productivity and quality of BC wines

Ramp Up ! - Strategic Roadmaps by Cluster and Market Segment

Source: ViTAL Economy Analysis of Workshop, Interviews and Questionnaire Results




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  Background










  Bibliography



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Our approach identified those clusters and market segments for which British Columbia has indigenous assets and whose development would help grow and diversify British Columbia’s economy

Source: Signal Hill Advisors, LLC

CLUSTER IDENTIFICATION AND DESCRIPTION…

CLUSTER IDENTIFICATION APPROACH

PEOPLE

TECHNOLOGY

INFRASTRUCTURE

LOCATION

NATURAL RESOURCES

INDIGENOUS ASSET MAPPING

FOCUSES

PRELIMINARY LIST OF BC INDUSTRY

CLUSTERS FOR ANALYSIS

INDUSTRY CLUSTERS FOR

ASSESSMENT

PRELIMINARY INDUSTRY GROUP

LIST SCREENED AGAINST

BC’S INDIGENOUS ASSETS

A SECONDARY SCREEN IS MADE

AGAINST POTENTIAL

IMPACT ON THE BC’S ECONOMY

ITERATIVE PROCESS

ALLOWS CLUSTERS THAT

MAY MAKE A FUTURE CONTRIBUTION SUCH AS

TECHNOLOGY TO BE CONSIDERED



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The preliminary cluster list focused on those clusters identified as having the best economic development potential by previous regional studies as well as by a preliminary assessment of indigenous and economic, business and political analysis

NATIONAL, REGIONAL & INTERNATIONAL ECONOMIC, BUSINESS AND POLITICAL

PERSPECTIVE AND ANALYSIS

INPUT FROM REGIONAL ECONOMIC

DEVELOPMENT PROFESSIONALS

INPUT FROM PRIOR ECONOMIC

DEVELOPMENT STUDIES

PRELIMINARY LIST OF BC INDUSTRY

CLUSTERS FOR ANALYSIS

CLUSTER/MARKET SEGMENT IDENTIFICATION AND ANALYSIS APPROACH





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RAMP UP! research identified 7 high level industry clusters and 17 market segments for analysis of BC global competitiveness and identification of niche sustainable growth markets for which BC is uniquely positioned

ANALYTICAL APPROACH...

INDUSTRY CLUSTER MARKET SEGMENT FOCUS

•  High Value Agriculture • Wine AGRICULTURE

TOURISM •  Upper End Tourism • Adventure/Eco-Tourism

FOREST PRODUCTS •  Raw Logs • Panels •  Furniture • Alder

MARINE •  Salmon Aquaculture • Shellfish Aquaculture •  Yacht Building

TECHNOLOGY •  Wireless • Specialty Computer Chips •  Biotechnology • Forest Tech

MINING • Mining

ENERGY •  Fuel Cells/Hydrogen




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RAMP UP! also identified industry clusters and market segments that should be researched in Phase 2 of RAMP UP! They hold potential as areas of innovation and market growth based on unique regional resources and centers of excellence. A number of these market segments have potential for multiple economic regions.

ANALYTICAL APPROACH...

INDUSTRY CLUSTER MARKET SEGMENT FOCUS

•  MRO • Design • Training •  Space, Communications, Software • Production AEROSPACE

Bio-Products •  Bio-Energy • Nutraceuticals • Alternative •  Bio - Plastics • Pharmaceuticals Forest Products

OCEANS •  Energy • Marine Technology • Oceans Tourism • Communications/Electronics Navigation • Logistics • Professional Services • Oceans Observatories/Research

Senior Living •  Healthcare • Housing •  Tourism • Financial Services

EDUCATION •  Higher Education • Technical Education

Source: Vital Economy, Signal Hill Advisors, LLC, Ramp Up! Regional Workshops and Interviews

Film & Television •  Service • Domestic

Documents

Ramp Upvitaleconomy.com/wp-content/uploads/2013/12/RampUP_BC.pdf · ViTAL Economy, Inc. 410-321-1484 [email protected] . SIGNAL HILL ADVISORS ©2004 ViTAL Economy, Inc. 2 It