"Partnerships are everything."
That was a key strategy emphasized at a Delta Chamber of Commerce luncheon April 20 where a representative from Prince George spoke about the success of the city's economic plan.
Tim McEwan, president and chief executive officer of Initiatives Prince George (IPG), told chamber members about the organization's efforts to grow and diversity Prince George's economy.
IPG is a municipally-owned corporation (the city is the organization's sole shareholder) that has been active in getting infrastructure in place to attract investments, promoting tourism, forming partnerships, and increasing interest from foreign investors, particularly from China.
The Delta Chamber of Commerce plans to develop its own overarching economic strategy for Delta, and organized last week's event to hear what it might learn from IPG's experience.
McEwan spoke of the importance of developing strong and diverse relationships first, before doing business, offering as an example an event where they brought together three cultures: delegates from China, IPG staff and First Nations stakeholders.
He said IPG has also makes a concerted, deliberate effort to garner media attention outside of northern B.C. and to develop its marketing strategy so Prince George is known to top businesses and investors.
As IPG embarks on its second three-year plan, other focuses include working with post secondary institutions to train and retain people in the fields they need—one goal is to become a world class bioenergy sector—and improving programs to attract skilled immigrants to Prince George.
McEwan said an indicator of success so far is Prince George's low employment rate (5.7 per cent), as well as being ranked in a 2010 KPMG study as the number one cost competitive city to do business in within the Pacific U.S. and Canada.
When talking about his thoughts for Delta, McEwan stressed partnerships both within and well beyond the community are essential, that leadership is key, and that a "sharp S.W.O.T analysis" must be undertaken to identify the municipality's strengths, weaknesses, opportunities and threats.