To assist us in undertaking economic development studies, we have developed a proprietary Competitiveness Model which incorporates factors related to both the macro environment as well as the micro-business environment.
Macro Level Factors
- stability and predictability of the political system
- attitude of government leaders
- government initiatives
- legal and regulatory environment (international, federal, provincial and local)
- tax structure
- macroeconomic conditions
- research institutes
- tourist attractions
Micro-Business Level Factors
- availability and relative costs of skilled and unskilled labour
- production inputs
- transportation infrastructure (highway, airports, ports, etc.)
- energy and facilities
- access to the building blocks of cluster development such as market access, financing, technology, specialized services, and related supporting industries
We also review the availability of financial and other forms of incentives (e.g. tax breaks, loans, grants, training, etc.) as well as quality of life and competitive issues that can affect location decisions.
We have applied this model preparing development strategies for a wide variety of regions across BC and across Canada and to almost all sectors of our economy. As an illustration, we applied this model in preparing provincial development strategies for the agriculture sector (Focus on the Future identified and assessed key issues that are strategically important to the overall long-term success of the BC agri-food industry and defined specific strategies and meaningful actions that industry, government and the Investment Agriculture Foundation of BC can pursue to assist industry to expand, diversify and enhance its competitive position and build a stronger industry future), the high technology sector, and the life sciences sector.
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