Summerside understands that FDI is ultimately a business decision and that international competition for investment is intensifying. Inward investment can continue to make a substantial contribution to Summerside’s economic development if we continue to create the right conditions and environment that meet the needs of today’s globalised businesses. We have been able to leverage some internal policy shifts, assets and programs to entice global enterprise looking at the North American market to utilize Summerside as their testing ground for expansion into North America and companies looking for a North American beachhead to establish their presence in planned and strategic way.
Our Key focus while centering around investment also has spillover effects that lead to talent attraction, key research and systems advancement and creation of an innovation culture in terms of moving the innovation agenda forward.
Specifically we are looking to engage A 3rd party consultant to identify potential Qualified FDI Candidates ripe for potential FDI expansion in Canada to assist in specific identification, management of the matchmaking process and arranging connections with the potential leads and securing key meetings based on the market intelligence gathering and probability of success. The selected company must thoroughly understand the business environment of Summerside, PEI and the wider Atlantic Provinces of Canada and be attuned to current key business sectors that impact the Island’s Economy, the business climate, regional business opportunities and needs, they must be in tune with the challenges that the Island faces and also be fully understanding of the Summerside’s Innovation/Validation Agenda.
- A proven track record in undertaking International Business Development
- A proven track record in identifying Foreign Direct Investment
- A proven strategic relationship at CEO Level
- A proven track record of working in the Smart City Technology environment with mature relationships that can be harnessed to air The City of Summerside in its bid to identify clients interested in knowing more of its Living Lab capability.
- Successful track record of securing inward investment into Canada
Our targets include both the young economy and start‐ups as well as multinational enterprise. Within the context of Summerside and FDI given we are a very small jurisdiction, we have become very focussed as FDI intensifies. Given we are unable to compete in a number of ways, we feel that this approach will allow Summerside to offer a compelling case for FDI investment. We have already seen first‐hand that Foreign owned firms also contribute in terms of knowledge transfer, enhanced productivity, higher order skills and management capability, and provide a platform for entrepreneurship and our goal within this project is to attract more enterprise based on a sound and tested strategy to grow our economy.
Our current FDI promotion focus in terms of sectors has been broadly positioned and generalized in terms of key messaging. This project will continue to enhance but focus on and further drill down into the messaging and value opportunity of investing in Summerside by highlighting and developing key business analytical messages and a tool for vetting specific opportunities.
The City and the Consultant will work collaboratively together in promotion of Summerside’s key selling propositions so that strategic leads can be developed. Summerside Economic Development will provide key messaging and support collateral and direction on key areas of interest.
Summerside is widely recognized as a leader and early adopter of innovation and investment in specific and growing sectors. Our unique municipally owned infrastructure, combined with a business environment that encourages innovation, distinguishes us from other communities in Atlantic Canada.
One of the most important aspects of Summerside is its size. As a Small City, Summerside is uniquely positioned to provide Big Opportunity. Summerside is progressive, offers municipal business incentives, has a quality of life second to none and continues to grow in overall census numbers, educated residents, housing value and more. Summerside is truly a flexible and adaptive environment for considered site selection.
In the past decade, Summerside’s economy has experienced significant diversification, advancement, and growth. It is a modern service, high technology, education, tourism, retail, and light industrial economy providing employment and investment opportunities, which range in scope from small business to multi‐nationals. The small city is enjoying a new level of prominence in the aerospace industry (dominant in the local economy), and advanced manufacturing. Within the city, business financing is accessible from financial institutions providing capital support for development and expansions. It offers an acceptable business climate in terms of tax, regulatory, and administrative requirements, which fosters growth and development.
Summerside has excellent physical infrastructure facilities (roads, air, sea, and other distribution networks). Its strategic national and international transportation links provide easy connections to key customer markets, and supply chains. It has advanced communications with variety and choice in the high speed/broadband marketplace,
The city has a skilled workforce, and adaptable human resources, trained by local institutions providing programs responsive to workforce needs. Achievable quality of life is attainable in Summerside through affordable housing, exceptional health care, and access to a range of recreation and cultural activities.
Summerside has been proven one of the best (a top) locations for the launching of new firms. As a strong, stable, and dynamic economy, Summerside provides a highly competitive business environment.
- Our growing business clusters have developed a solid critical mass to stimulate additional growth, from our aerospace to advanced manufacturing companies.
- Prince Edward Island and Summerside in particular offers one of the lowest cost production environments in North America, as well as attractive financial incentive programs to enterprise.
- The Island’s time zone facilitates communications with both the West Coast and Europe (+4 hours to Los Angeles / ‐4 hours to London)
- Unparalleled lifestyle and attractive housing prices.
Scope of Work:
It is envisioned to engage a market specialist to prospect, connect and arrange in‐market meetings with qualified companies with an interest in expanding to North America within Summerside Key sectors of interest for Summerside representatives to participate in a week long investment mission to the key markets.
The resultant efforts will provide both a targeted list of companies with known Canadian aspirations for investment in North America and that align with our value proposition/sectors as well as a list of companies in the key markets and sectors that we can begin to build longer term engagement with as a secondary outcome
In completing this assignment, the consultant(s) will work with and take direction from the city’s Economic Development Office. Upon award of contract, the consultant(s) will meet with Economic Development (via in person or remotely) to discuss and gain a strong understanding of the assignment and the expected outcomes and deliverables.
- MRO Aerospace
- Back Office Business Processing
- Business Services
- Software Development (Interactive Media, E‐learning, E‐Health Software Development, Financial Serviced)
- Distributed Energy around the living lab and Incubation and Start‐Up Enterprise
Priority Target Markets:
- United Kingdom
Deliverables of Work:
- Matchmaking: Identification of pre‐qualified leads based on Summerside’s key objectives
- Vetting: Creation of a potential list of targets to be pre‐screen by Summerside and the consulting team.
- Arranging: The consultant will upon agreement of vetting process, confirm, schedule and develop travel and logistics itinerary for the City
- Reporting During vetting Stage: The consultant and the City will develop a formal reporting structure and process for all leads, vetted leads and actual meetings and provide monthly updates on each activity
- In Market Meetings: The consultant upon agreement with the City develop at a minimum 10 in‐market meetings, schedules and logistics for the client which will include all tombstone data on the company as well as intrinsic insights into the motivating key factors for the meeting and specific interests in North America and Summerside.
- Final Reporting: The consultant in consultation with Summerside will develop final visit reports including summary information, client/city action items and minutes and opportunities from each meeting within two weeks of the conclusion of each in‐market visit.
March 27th, 2018
Consultancy Services FDI Lead Generation UK
Attention Mike Thususka
275 Fitzroy Street
Summerside, PE C1N 1H9
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