JOBS, TOMORROW 2018 PROGRESS BREAKFAST
But first Jobs Today Economic Indicators Current Challenges Key Priorities: Roads Investment Performance Innovation at the City
Job Market s t e a d y 12.0 Unemployment Rate - Barrie CMA 10.0 8.0 6.0 4.0 2.0 0.0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Jobs added in Barrie - since 2009 - Top 5 Job Growth Sectors, 2009-2018 2009 2018 Net Chg Health care and social assistance 9119 11,919 2,800 Accommodation and food services 5621 7,266 1,645 Wholesale trade 3647 4,669 1,022 Construction 4961 5,959 998 Professional, scientific and technical services 3460 4,409 949 Top 5 Job Loss Sectors, 2009-2018 2009 2018 Net Chg Manufacturing 5477 4,076 (1,401) Public administration 2971 2,116 (855) Other services (except public administration) Administrative and support, waste management and remediation services (There isn't a 5th) 3113 2,618 (495) 3526 3,160 (366)
New manufacturing and office building in the south end Record year for building permits
Current Challenges Ensuring permitting process supports business growth Process improvements have increased timeline compliance from 83% in 2017 to 90% so far in 2018 Opioid crisis demand on emergency services, public health Fiscal responsibility addressing the infrastructure deficit and building reserves while minimizing tax increase City surplus this year of approx. $2.3M (~1.1%) driven by cost containment Debt costs ($772k) Stormwater maintenance ($914k) Salary gapping ($1.78M) Insurance proceeds (one time - $825k) Helped to support low reserve levels
Road Projects Top Infrastructure Priority Substantial shift in spending toward more road repair, expansion Harvie Road/BBP Bridge Groundbreaking May 29 th Bryne Drive connection 2020/2021 Essa, Dunlop Interchanges now in MTO 5-Year Capital Plan MacKay Interchange 2022/2023 7
City is actively managing its cash holdings as well as stewarding it s single largest investment Alectra Cash actively managed between HISA, short-term investments, and operating accounts Returns in 2017 averaged 2.21%, exceeding benchmark of 1.91% Innovations in debenture financing resulted in $250k savings in interest expenses Time to issuance now 6 days instead of 57
Alectra City s Largest Investment Barrie Hydro/Powerstream/Alectra Regular Dividend ($M) 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Regular Dividend ($M)
Innovation to save tax dollars, improve services
part two JOBS & THE FUTURE
McKinsey Study 15% of jobs displaced by automation by 2030 However: Even with automation, the demand for work and workers could increase as economies grow, partly fueled by productivity growth enabled by technological progress. Rising incomes and consumption especially in developing countries, increasing health care for aging societies, investment in infrastructure and energy, and other trends will create demand for work that could help offset the displacement of workers. Additional investments such as in infrastructure and construction, beneficial in their own right, could be needed to reduce the risk of job shortages in some advanced economies. Even if there is enough work to ensure full employment by 2030, major transitions lie ahead that could match or even exceed the scale of historical shifts out of agriculture and manufacturing. By 2030, 75 million to 375 million workers (3 to 14 percent of the global workforce) will need to switch occupational categories. All workers will need to adapt - some of that adaptation will require higher educational attainment JOBS & THE FUTURE
Canadian Context Depending on Automation Growth of the working age population job growth, could be full employment overall
Keep older workers in the labour force Reinforce education funding as a much higher national priority Focus on lifelong education and training. Increase annual immigration levels Conference Board of Canada What should Canada do to ensure future employment growth? http://www.conferenceboard.ca/hcp/details/economy/emplo yment-growth.aspx
What is Barrie Doing to Respond? Build an Entrepreneurial Ecosystem In full partnership with Georgian College esp. Henry Bernick Centre Sandbox GAN Digital cluster Encourage STEM Careers Train in Tech Job Fairs Attract Talent Liveable City Repatriate commuters
Sandbox Centre For Shared Entrepreneurship & Innovation Swell of local support for Sandbox 40 businesses contributing as members and sponsors Design is being completed to finish out the space On target for 2018 completion Sandbox programming is being developed Launch in Summer 2018
Opening of the new Georgian College Design and Digital Media Campus - September 2017 -
Train in Tech In partnership with Barrie area Employment Ontario Service Providers. 69 employers in attendance at the job fair 32 exhibitors, 55+ booths 1400 students through during the day, Georgian college, senior elementary and secondary students from across the region.
TECHNOLOGY Creating Jobs in Barrie
Attracting entrepreneurs and maintaining a skilled labour force means ensuring Barrie remains progressive and energetic Strong restaurant sector Cultural opportunities Unparalleled recreation Building a Community for Talent Live music High quality of life
Fun fact! Barrie has well above average # of restaurants
Major Projects Memorial Square and Meridian Place: Ontario Business Improvement Area Association's Large Scale Public Realm Investment and Streetscape Award Fisher Auditorium and Conference Centre
Mayor s Innovation Awards
Barrie Welding & Machine