Consulting Services Strategic Sector Analysis & Action Plan

The consulting firm will perform the following:The Investment Attraction Sector Analysis and Action Plan needs to build on the Sarnia-Lambton Economic Development Strategic Plan (2018-2023) by Mellor Murray Consulting. Additionally, while accounting for recommendations made in the Foreign Direct Investment Strategy & Action Plan for the Sarnia-Lambton Economic Partnership (2018) by Lynch Pinnacle Group and recognizing sectors of historic focus of the Sarnia-Lambton Economic Partnership (SLEP), the Investment Attraction Sector Analysis and Action Plan will identify and prioritize five (5) key economic sectors for investment attraction.The FDI plan assessed and identified the following key economic sectors for FDI attraction:· Industrial Bioproducts (Biofuels, Biochemicals, Bioplastics)· Plastics and Rubber· Industrial Wastewater Treatment· Chemicals 4.0 (Digitization)Through the Strategic Plan the following key economic sectors have been identified as:· Petrochemical· Advanced Manufacturing Technology· Value Added Agriculture· ICTAdditionally, the Strategic Plan identifies the following as new growth sector opportunities:· Tourism Investment· Construction· Services for Aging Population· Professional Services or Gig/Freelance EconomyLastly, the Warwick Circular Economy Cluster Initiative focused on the circular economy as an investment attraction sector specific to Warwick TownshipThe identification and prioritization of key economic sectors will guide and shape future investment attraction efforts, building on the region’s strengths in traditional industry sectors, while also capitalizing on the emergence of nascent business areas. It is expected that the sector analysis will include a detailed description and outlook of each identified sector.Once target economic sectors are proposed, the consultant will work collaboratively with SLEP, and local and regional partners to complete a detailed analysis of Sarnia-Lambton’s ability to capitalize on these economic sectors. At its highest level, this will include completing a weighted analysis of a comprehensive list of critical location factors to determine the importance of each factor on an industry by industry basis, and by category (ie. labour force characteristics, transportation/distribution, taxes, utilities, property factors, incentives/support programs, education/training, quality of life, etc). A more detailed analysis of Sarnia-Lambton’s investment readiness against critical location factors determined to be of “high importance” is expected, including a commentary on the Sarnia-Lambton areas current performance for each factor, and identification of how to improve areas of poor performance.SEE SCOPE OF WORK FOR CRITICAL LOCATION FACTORS:The sector analysis should include a comparison of Sarnia-Lambton’s competitive advantages and disadvantages for each sector against regional competition and North American hubs recognized for their success in a particular sector, resulting in a prioritization of the identified economic sectors. The expected result is a set of recommendations for how Sarnia-Lambton should target sectors based on the completed analysis and the identified sector outlook. This should include identifying sub-categories of the sector for SLEP to focus efforts and suggested target geographies.An action plan should prepare a prioritized complement of initiatives or activities within each target economic sector, and an accompanying set of initiatives or activities for the SLEP organization as it relates to investment attraction. These initiatives and activities are to be supplemented by a projection of outcomes including establishing KPIs and measurable goals, both at an annual frequency and over the course of a 5-year period. Additionally, budgets and partnerships associated with key initiatives and activities are to be proposed.The project will include a second component that will closely mirror the items found above but will identify one key “economic sector of the future” that is a new area of focus or diversification for the Sarnia-Lambton area. This component will provide the same comprehensive analysis of critical location factors tied to investment attraction, sector analysis comparing Sarnia-Lambton against regional competition and North American hubs recognized for their success in the sector, and recommendations on how Sarnia-Lambton should target the sector as the previous component. The major difference will be that the action plan should prepare a prioritized complement of initiatives or activities within the target economic sector based on 5, 10, and 15-year intervals. Additionally, these initiatives and activities are to be supplemented by a projection of outcomes, including KPIs and measurable goals across the same 5, 10, and 15-year periods.The consultant should propose a phased approach whereby sector identification, critical location factor and sector analysis, action plan, and identification and analysis of an “economic sector of the future” are reviewed with SLEP staff before proceeding to the next phase.