Quinte Economic Development Commission Board members got a brief look at a target market and field study that is doing a deep dive on the Quinte region.
QEDC CEO Chris King told Quinte News they attempt to undertake a target and field study every five years.
He says it allows them to have an outside set of eyes from experts on what the Commission is doing to make sure they are on the right path.
Project Director Eric McSweeney said they have never had the opportunity to go as in depth as they did with this target market and field study.
The study followed a three phase approach said McSweeney; phase one looked at demographics, labour and economic base analysis, and industrial land availability. The second phase focused on investment opportunities and the final phase, which is expected shortly, drills down on strategic development.
Adam Breeze, an investment attraction marketing specialist, who participated via phone from Manchester, said he has first hand knowledge how competitive it is “out there” and everyone is fishing in a very crowded river.
He said it’s not about standing out, but improving the tools being used to bring industry to the area.
One of the major issues brought up by the study was the lack of immediately available industrial lands.
McSweeney said available land is extremely critical, describing it as no land, no deal.
In Brighton, Quinte West and Belleville, he said industrial lands immediately available are very limited. Land available in the next six months to a year is limited, land available in one to five years is unknown and lands available in five to 20 years will depend on the actions taken by the municipalities in 2020.
He recommended each municipality ensure a significant, ten year supply of industrial land and said it is not an overnight process and it will take about eight years to make that happen.
FDI Experts Project Manager/Lead Investment Attraction Expert Jim Podolak told the board their top investment opportunities are in logistics, food processing, cannabis, technology, services and manufacturing.
King says the convergence of some of those industries is important to note as well.
Podolak says the Commission needs to be flexible and nimble in their approach to making their plan in order to attract those types of industries to the Quinte Region.
The final sign off on the study is expected in the new year.
