#1☑Ontario Tourism Investment Attraction Ministry of Tourism, Culture and Sport Presentation to Ontario East Municipal Conference September 12, 2013#2Ontario Agenda • MINISTRY OF TOURISM, CULTURE AND SPORT ● Background and Context Economic Impact of Tourism for Eastern Ontario Tourism Investment Strategy MTCS Resources and Recent Successes Municipal Outreach 2#3■ Ontario Tourism Matters MINISTRY OF TOURISM, CULTURE AND SPORT Tourism is an essential part of Ontario's economy and its regional economies In 2011, tourism generated receipts of $23.1 billion and supported over 300,000 jobs Tourism is Ontario's 14th largest employer and provides jobs for youth, women, and new Canadians in higher proportion than Ontario's economy as a whole Ontario's 148,200 tourism-related businesses represent 17% of all businesses in Ontario Global tourism is poised to grow rapidly as the worldwide travelling population is projected to double to 1.6 billion by 2020 Ontario 2010: ▪ Visits increased by 1.4% to 105.2 million ▪ Visitor spending increased by 3.7% to $17.7 billion 3#4Ontario MTCS Investment Role MINISTRY OF TOURISM, CULTURE AND SPORT . • MTCS's Investment & Development Office (IDO) mandate is to support destination development and investment in Ontario's tourism industry MTCS partners with Ministry of Economic Development, Trade and Employment in the delivery of investment attraction services Investment roles include identifying regional tourism investment opportunities, supporting priority tourism development projects, maintaining a global investor database, the tourism investment website portal and communications/lure documents 4#5Ontario MINISTRY OF TOURISM, CULTURE AND SPORT IDO's Role in Attracting Tourism Investment Assist Investors in: – Organizing tourism investment trips to Ontario - Providing contacts to assist with business interests - Providing detailed information on tourism sub-sectors which hold the greatest opportunities for investment Assist Municipalities in: – Identifying tourism business investment opportunities - - Providing information to support the business case or feasibility study - Promoting investment cases - Connecting with the investment community Assist Tourism Operators in: - Reviewing business and marketing plans - Identifying emerging markets - Providing statistical and trend analysis - Presenting information on relevant government programs 5 LO#6Ontario Ontario's Current Projects • • MINISTRY OF TOURISM, CULTURE AND SPORT Not since Canada's Wonderland opened in 1981 (Canada's largest tourism employer with over 4,000 staff), has Ontario seen a boom in new tourism-related investments. The Ministry continues to support private sector investment projects in the pipeline totalling over $3B and 5,000 jobs including: . • • • • • Ripley's Aquarium of Canada, Toronto, $130M investment, 360 jobs, Fall 2013 Merlin Entertainment, Legoland Discovery Centre, Vaughan, $12M, 50 jobs, Spring 2013 Toronto Premium Outlets (100 designer stores), Halton, 500 jobs, Summer 2013 Skyline International, Georgian Valley, $1.6B investment, 2000 jobs, TBD Fort Erie Canadian Motor Speedway, $400M investment, 350 jobs, 2014 Aquatarium Brockville, $20M investment, 75 jobs, Spring 2014. Various hotel developments in Toronto and Niagara Falls. Some of these investments are funded and developed by foreign investors from USA, Israel, Kuwait and Eastern Europe. Since 2000, over $9 billion has been invested in Ontario's accommodations sector. (PKF consulting 2012). CO 6#7Ontario MTCS Incentives MINISTRY OF TOURISM, CULTURE AND SPORT . • The Ministry has a Tourism Investment Strategy which aims to attract private sector investment into Ontario Support for investment projects include financial incentives, site location identification, familiarization trips, government contacts, senior level meetings, economic impact analysis, market research, tracking, etc. Support for tourism related applications to the Eastern Ontario Development Fund 7#8JCE SOUTH C A PONCH A PARRY MONG WITHON M MONLLAW Georgian Bay Baie Georgienne MY MOLAN ORGAN BUND VERFORD MRA CHWORTH THE RUF WOUVIAN COL HOHLANDS GREY W WOCKTON ROUSH BRUCK CAR FLORY HOMO MANIA CLAANYEW SIMCOE MULMUR AQUALA DUTHIAN UNICON SAUDE www TROUM MOND DUFFERIN ART ORAN MINTO WELLINGTON NORTH AMARATH WALLAY ART MALL истико 12 DO WOONTH CHISHOLM ALY 2 F MICHOUE MILLIN RAMARA ORA ADEWFIS ALBONOUN HIHLAS RACKON what WASY LUMBAY acusco CHAVILLE PEEL WAN CALFOON MN CHATRE WELLINGTON HURON KAST ww PARTH NCHTH WICH 4 PARTH ART PERTH WELLINGTON MAPLATON WELLASLAY WATERLOO www.co WHITCHURC STOUFFVILLE PURCHA YORK AMPION 5 TORONTO HELP SALA ВЕРНЕРАМОВА MOONCH CHINER WINIT CAMBRIDON WHALTON CANWALLR RAUNCH BURTON MACHIN HILLS Algonquin Provinolal Park! Paro provincial Algonquin HALIBUR DTRANT, QUELET HARCOURT SULFORD AUTOR HALOCK THE AND CLYDE HOHLANCE Ясити WTHA Ve LAURANT HLL LAURAVAN LIAL ON HADARTY AN ROHARD MROH ALGONA МАСИДИАКА VALLEY MICHELL LYNDOCK ANRAGLAN HARTING CHLOW HULANCE GALWAY CANDON AND HARVEY PETERBOROUGH 8 uko KAWK- IMG TH LAPELD FRIDAY SANCHORY WOLLARTON UMARCH HASTINGS LOOK AND CAH KOMCHIRA WILAY RENFREW ARCH AMARTON INCOLET HORTUN MADHAKA MONA MERSEPH MILLE ADDINGTON HOHLANCE 11 NONTH FRONTMAC LANAR HOHLANES LANARK CARLSON PLACS MNCOMIN DRUMMONDNORTH ALMILAY Y AND ADDING LENNOX ON MMMOR MCLA HAVELOCK WADOC wo MONT THUA ARPHON NORWOOD TRAST HILLA код CRONNE WOUTH MOHA CA MORANHA DURHAM CLARINGTON MOGANG CBHANA WHIT Alex AMIC HALDIMM CRM NORTHUMBERLAND PORY HAMILTON HOPK C HARTING RAWDON QUVIN CENTRAL SAY VALLAY oriwe 10 NOMTH BUNDA ELARICE ROCKLAND ARLAND at CHAMPLARY www PLA PRESCOTT AND 8055 NATION NORTH OLARRY NORTH гомонт AND GLENGARRY STORMONT NORTH SOUTH DUNDAS MONTA 243 MALM EARCHVILLE WOLFORD WH CARDINAL AUGUNTA LEEDS AND GRENVILLE, AUTHTOWN KITLEY STON MILS FRONTENAC MOUTH HONTAC 9 HCHAL THOU AND FRONT OF TORON KNSTON TYNNAGA LOYALT GREATER PROACH COUNTY PROAC A K Lake Ontario/ Lac Ontario Regional Tourism Organizations in Eastern Ontario ANAND SOUTH NGARRY#9Region Visits Expenditures Average / trip US Visitors* Overseas** 8 4.6 M $456 M $98 69% from border UK leading at 28% states. Of which, 29% from New York France leading at 9 6.4 M $575 M $117 80% from border states. Of which, 20% 65% from New York 10 6.9 M $1.3 B $190 50% form border states. Of which, France leading at 16% 29% from New York 11 4.2 M $419 M $100 74% from border states. Of which, 38 % from New York Germany leading at 20% Ontario 103.7 M $17.1 B $165 77% from border states. Of which, 31% from New York and 29% from Michigan. UK leading at 16% *U.S. visitors represented 11% of visits and 18% of expenditures **Overseas visitors accounted for 2% of visits and 15% of spending Source: Statistics Canada, Travel Survey of the Residents of Canada 2010, International Travel Survey 2010, Ontario Ministry of Tourism, Culture and Sport 9#10Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Tourism Investment Strategy WELCOMING INVESTORS: A Tourism Investment Attraction Strategy for Ontario Ministry of Tourism, Culture and Sport Ontario 10#11Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Context - Tourism Investment Approach The Ministry of Tourism, Culture and Sport has identified tourism investment attraction as a key priority to drive jobs, investment and increased visitation in the tourism industry. Since 2001, a number of studies have identified the need to implement a targeted, strategic approach to selling Ontario as a tourism investment destination. In July 2010, Minister's approval was received to proceed with the development of a 10-Year Tourism Investment Strategy and Implementation Plan. In October 2012, the Ministry launched Welcoming Investors - A Tourism Investment Attraction Strategy for Ontario at the Ontario Tourism Summit in London. 11#12Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Recommended Investment Approach for MTCS MTCS is implementing the following investment attraction recommendations: 1. Establish Tourism as a priority sector in Ontario's investment attraction approach. 2. 3. 4. 5. Create a powerful value proposition to promote Ontario as a destination of choice for tourism investment. Develop an investor outreach approach to promote Ontario's value proposition and generate investment leads. Support investment leads with an all-of-government approach. Identify provincially owned assets as opportunities for private sector investors. 12#13Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Investment Strategy Implementation 1. Establish Tourism as a priority sector in Ontario's investment attraction mandate. Ministry Role: Partnership established with the Ministry of Economic Development, Trade and Employment (MEDTE) to support lead generation and investment marketing for tourism. ADM working group on priority projects. Three Senior Investment Consultants at the Investment and Development Office (IDO) are focused on identifying investment opportunities, generating leads and supporting developments. Regionally: Establish relationships with the RTO's, EDO's, and municipal leaders to raise the profile of tourism as an economic driver and investment priority. Identify major tourism generators, establish relationships with existing businesses and consult on future investment plans. 13#14Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Investment Strategy Implementation 2. Create a powerful value proposition to position Ontario as a destination of choice for tourism investment. Ministry Role: Document key reasons to invest in Ontario's tourism industry. Examine policies and programs across government to support tourism investors. Utilize the Tourism Development Fund to encourage projects which support private sector investment attraction. Partner with regions to identify and develop market ready investment opportunities. Regionally: Develop regional asset maps to identify tourism product strengths, clusters, gaps and investment opportunities. 14#15Ontario Ontario's Value Proposition • • • • • • • MINISTRY OF TOURISM, CULTURE AND SPORT A large and growing tourism market - 35% of all tourism spending in Canada takes place in Ontario. Investor's choice - Ontario is Canada's leading destination for foreign direct investment and second only to California in all of North America. Access to capital - Toronto is home to Canada's secure and enviable financial sector. Lowest taxes - Ontario has one of the lowest corporate tax rates in all of North America. Human capital - Ontario has a diverse, multilingual, highly educated and available workforce. Best brand - anywhere - International business consulting group, Future Brand, has dubbed Canada the best country "brand" in the world. Competitive cost - Among the 30 largest North American cities (metro populations of 2 million plus), KPMG ranks Toronto second for low business costs. Well connected - Toronto's Pearson Airport is the 4th largest entry point into North America and highly connected to US and International destinations. A growing economy - The International Monetary Fund has forecast Canada to have the highest economic growth among G7 countries for 2012. Demand - There are 139 million consumers within an 8 hour drive of Toronto. Support for Business - the Government of Ontario has dedicated programs and services to support international investment, major events, site visits and business feasibility studies. Tourism investor confidence - International brands including Ripley, Legoland, Trump, Four Seasons, Shangri-la, and Ritz Carleton have invested in Ontario within the last two years. Iconic assets - Ontario has prime destinations looking to grow including: Toronto's waterfront - largest urban waterfront redevelopment in North America; Georgian Bay - home to Wasaga Beach, the world's largest freshwater beach; Prince Edward Counties, award winning wine and culinary region; the world-renowned Rideau Canal, a UNESCO World Heritage Site, and the Trent Severn Waterway, National Historic Site - identified by National Geographic as one of the "Top 500 trips of a lifetime." 15#16Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Investment Strategy Implementation 3. Develop an investor outreach approach to promote Ontario's value proposition and generate investment leads. Ministry Role: Regular communication with International Marketing Centres, International Business Development Representatives, Investment Promotion Agencies to encourage investment leads and provide information on Ontario tourism opportunities. A list of domestic and foreign investors is being developed for lead generation purposes. Participation at key investment shows/conferences is planned. Regionally: Participate at investment shows to promote regional investment opportunities as appropriate, support incoming missions. 16#17Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Investment Strategy Implementation 4. Support investment leads with an all-of-government approach. Ministry Role: Support familiarization trips and senior level government meetings for investment decision makers. Maintain a comprehensive list of government programs/incentives/contacts available to investors. Establish cross-government working teams to support major investment projects. Regionally: Inform MTCS of any new tourism developments. Work with MTCS to provide local information and contacts available to support new developments. 17#18Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Investment Strategy Implementation 5. Identify provincially owned assets as opportunities for private sector investors. Ministry Role: Explore alignment on the Ontario Place file and provide support as required. Identify key public properties through the Ministry of Infrastructure with potential for private sector tourism investment. Work with Tourism Agencies Branch to identify opportunities for public private partnerships. 18#19• Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Investment Strategy - MTCS Next Steps Invitations sent out to all individual RTO's requesting a meeting to discuss partnership opportunities. Meetings to date: RTO 12, Bracebridge - Parry Sound, RTO 5, Toronto - Mississauga, RTO 2, Niagara, RTO 1, RTO 13. RTO 9, RTO 11, RTO 7, OEEDC, Chatham, Ajax, RTO 8, RTO 6, RTO 3, and Burlington. Continue to develop the investment value proposition and local opportunities to market to investors. Connect with Ontario's tourism sector associations such as GTHA, ORHMA, Attractions Ontario, Resorts of Ontario, OCTA, Retail Council of Ontario, EDCO, TIAO, Ontario Wine Council, Ontario Accommodation Association, Ontario Motor Coach Association, Ontario Chambers of Commerce, Ontario BIA Association. 19#20Ontario • • • MINISTRY OF TOURISM, CULTURE AND SPORT The Importance of Investor Outreach • International investors are looking for safe justifications for investment. Proactively reaching out and meeting investors / developers and site selectors supports the province's jobs and economy agenda. By attending tourism investment related conferences and events, MTCS will be better positioned to support municipalities seeking investors, Ontario-based tourism operators looking for partners, and the Regional Tourism Organizations promoting investment opportunities. No other provincial ministry tracks and targets real estate investment, and there is an increasing trend in international investors developing mixed-use real estate developments with significant tourism, culture and sport components. International event participation will build strong networks with and take advantage of the foreign investment work being done by federal government departments, the province's International Business Development Representatives and the International Marketing Centres managed by the Ministry of Economic Development and Innovation. The constant inflow of competitive intelligence on investor data and industry trends. allows MTCS to effectively monitor the business side of the tourism industry in Ontario. 20 20#21Ontario Investor outreach MINISTRY OF TOURISM, CULTURE AND SPORT MTCS issued two RFP's to develop lists of leading US and European tourism investors. Benefits: • • Delivers a focussed and qualified list of potential U.S. and European investors which will support a proactive outreach campaign. Is a cost effective and widely used lead generation technique utilized by investment promotion organizations such as MEDTE. 21#22Ontario MINISTRY OF TOURISM, CULTURE AND SPORT MTCS resources and recent tourism investment success 22 22#23Firefox ▼ Regional Investment Opportunities X + www.sse.gov.on.ca/medt/investinontari Google Reload Back Forward Bookmarks Print Cut Copy Paste Stop Home Bookmarks ONTARIO Ontario.ca Français CANADA Search HOME ONTARIO SECTORS | SELECT ONTARIO CASE STUDIES | MEDIA ROOM RESOURCES | SOURCE FROM ONTARIO Home > Ontario Sectors > Tourism Investment > Regional Investment Opportunities Invest in Ontario Why Ontario Sites & Communities Regional Investment Opportunities Tweet +1 in SHARE SIGN UP RSS PRINT Ontario Sectors ▸ Advanced Manufacturing Regional Investment Opportunities To assist you in finding the right tourism investment opportunity, you can select a particular industry sector and discover where in Ontario, your investment opportunity awaits. ▸ Aerospace ▸ Automotive ▸ Business Services ▸ Clean Energy ▸ Clean Technology Select by Sector: Select All Aboriginal Amusement Parks Attractions Bed and Breakfasts Cottages Cruising and Marinas OR Select by Region: Select All ▸ Digital Gaming Search ▸ Food Processing Start Inbox Microsoft Outlook Microsoft Office PowerP... Regional Investment ... Central Ontario Eastern Ontario Niagara Region North-Central Region North-East Region North-West Region Search इन्द्र 11:51 AM#24▸ Private Ontario Tourism Investments Ontario Tourism Overview ▸ Market Research Reports ▸ Tourism Quick Facts (3) Welland Canals Heritage Park Project Date Immediately Begin: Region: Niagara Region Type: Attractions City of Welland ▸ Travel Activities and Motivations Survey (TAMS) ▸ Regional Investment Opportunities ▸ Real Estate Opportunities ▸ Trade Associations ▸ Investment Services Description: A study indicates a total investment of $118-130 million to include park system, residential and commercial development and a farmers' market. Approximately 1,600 acres south of the QEW / Garden City Skyway bridge. Site includes three locks which provide access for ships into the Niagara escarpment. Over 70% of North America's population lives within a 10 hour drive. 18.7 million people visited Niagara in 2002 and spent over $1.5 billion. Over $2.8 billion has been invested in luxury hotels, entertainment centres, shopping, gaming and live theatre. The Welland Canals Centre attracts over 400,000 visitors annually, and is home to the St. Catharine's Historical Museum and the Ontario Lacrosse Hall of Fame. For more information about Niagara investment opportunities, please contact Niagara Economic & Tourism Corporation at 1-800-263-2988 or www.niagaracanada.com Business Immigration Case Studies and Testimonials Resources (4) Port Colborne Harbour Project Date Immediately Begin:: Media Room Region: Type: Tools Explore Ontario Contact Us Connect With Us You Niagara Region Attractions City of Port Colborne Description: A study indicates a total investment of $86-$134 million. Development zone is approximately 1,250 acres of land at Lake Erie on both sides of the Welland Canal. - Recent investment activity includes, Harbour Marina $8M, West Street promenade 1st phase $500,000, trail development - $700,000, long term care facility $12M. This site is part of a 104 km circle route linking Port Colborne to other communities throughout Niagara via the Wellend Canal.#25ONTARIO FAST TOURISM OPPORTUNITIES 2012 Where tourism investment opportunities come naturally CURTE DIGNO ONTARIO EAST ECONOMIC DEVELOPMENT#26OPPORTUNITIES Brockville Crossroads Properties Inc. Hotel Lands Sale of Lands for development of hotel. Location:Located near the major intersection of Highway 401 and Stewart Boulevard. Total land area of 1.587 acres planned to accommodate at 5 storey, 92 suite Hampton Inn & Suites hotel. Key Contact: Toby Singlehurst, President, Jennum Properties Inc., 460 Brant Street, Suite 315, Burlington, Ontario L7R 4B6, (289) 430-5027 x 315 Asking Price: $1.5 million Cdn. Welcome to Brockville Brockville is famous for location, picturesque beauty and base of many multinational firms. The community is a World Health Organization Designated Safe Community and is within an enviable United Nations Biosphere Reserve Brockville is also a transportation hub on super Highway 401, being centrally located in the Montreal Toronto economic corridor, an hour from the Nation's Capital region. The community is also accessible and connected by two Waterfront Hotel and/or Condo Development Complex Seeking investment partner as major stakeholder for a unique waterfront hotel and/or residential complex encompassing commercial roof accommodation and condo units. A major $20 million tourism attraction known as the Maritime Discovery Centre in close proximity and opening in June 2013. Contact: Dave Paul, Director of Economic Development City of Brockville 613-342-8772 [email protected] Estimate investment in the $30 to $40 million range international bridges minutes away and with both CNR and CPR Rail services including VIA passenger service. Brockville is also a heritage community being Ontario's oldest incorporated municipality offering the charm and ambiance of resort living and a quality lifestyle. The loyalty and availability of the skilled workforce and the creative talent of its people, offer a significant competitive advantage for $ business investment. Ontario Toronto Lake Ontario Chow's Quebec Brockville New York State CFFEE TWAS#27OPPORTUNITIES Hastings County Excellent development opportunity! Situated in the Town of Bancroft we have 12.75 acres of commercially zoned land available. It is zoned for large format commercial such as a mall, plaza or other large commercial uses. Full municipal services are available. For further information, please contact the listing office: Coldwell Banker Ekort Realty Ltd. Brokerage - Libby Clarke, Sales person libby-clarke@ coldwellbanker.ca 182 acres of land on popular lake! The Municipality of Hastings Highlands, in northern Hastings County near Bancroft, owns 182 acres of land on both sides of the river coming out of the popular Baptiste Lake. The local municipal office in Hastings Highlands claims this could be suitable for a hotel or resort taking advantage of the scenic surroundings and outdoor adventure opportunities. Contact: Andrew Redden Economic Development Manager 1.866.321.9563 ext. 4011 http://ontarioeast.ca/content/investment-tourism [email protected] Welcome to Hastings County With 5,964.5 square kilometres at our disposal, Hastings County is the second largest County in Ontario. Nature has fi lled all those square kilometres with some of the most spectacular treasures imaginable - from the beautiful Bay of Quinte in the south to Algonquin Park in the north, and hundreds of lakes, rivers, wetlands, farmlands and forests in between. Hidden among our natural amenities are some truly surprising attractions Ontario APPEN Quebec and unexpected experiences, including Bancroft (the Mineral Capital of Canada), a recreational trail system stretching over 280 kilometres, cheese factories, an Arts Route, live theatre and more. If you can find a highway, you'll have no trouble finding us. We're halfway between Toronto and Ottawa and within easy reach of Canada's largest tollfree Highway #401. Population (2006): 130,47 Sophiar PRICOTT AND MULIWA OPMONTOUBAS DRAGONFLY INN 613-337-8800 Ot Иод нал LANARK HASTINGS COUNTY KATH HABLATOR Hastings PREHRAC e New York State NORTHLAND BOARD Toronto Lake Ontario#28Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Community Tourism 28#29MINISTRY OF TOURISM, CULTURE AND SPORT Community Tourism – A complete approach by LWLP. • . - MTCS hired LiveWorkLearnPlay to present a session at the Ontario Tourism Summit last fall in London. Part of their presentation titled "The rebirth of neighbourhoods to create vibrant destinations" looked at ways Ontario's communities can identify its tourism assets and leverage them to conceptualize new product development - attract new investment. Ontario 29 29#30Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Asset Mapping - Things to consider 1. What do you consider to be your top five tourism attractors from a visitation perspective? 2. What do you consider to be your greatest undeveloped assets from a tourism perspective? 3. If an investor were to come to your community to build a tourism development or attraction, what would be the top five new projects that you would like to see completed in the next 3 - 5 years? 30 50#31Ontario MINISTRY OF TOURISM, CULTURE AND SPORT What are the opportunities for Ontario? Outdoor Experiences Trails Touring infrastructure Agritourism Waterway adventures Golf vacations Cycle tourism All season hovercraft adventures Motorcycle touring routes Waterfront redevelopment Destinations Indoor sports complex Aboriginal tourism Gated attractions NASCAR Raceway Multiuse attractions Culinary Tourism Waterfront resorts Biosphere Casino Water park Luxury waterfront amenities Revitalize train travel 31#32MINISTRY OF TOURISM, CULTURE AND SPORT MTCS has case studies on the following investment opportunities. Ontario • Transient Accommodation Meeting/Conference Facilities • Downtown Full Service Hotel Attractions Resort Development If you wish to know more, please ask! 32 32#33Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Where to Begin? 33 33#34Ontario Tourism Planning Process MINISTRY OF TOURISM, CULTURE AND SPORT Create a Tourism Planning Committee Perform a SWOT Analysis Set Tourism Vision Goals and Objectives Identify and Assess Tourism Market & Development Opportunities Product Development Plan Existing Research Reports such as the PrTDF for the Region or Individual Communities Develop Tourism Plan Marketing Plan MTCS Investor Outreach Tourism Investment Attraction Plan Implementation Plan 34 ===#35Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Different Approaches to Tourism Investment Taken by Communities Proactive Approach Municipalities identify tourism investment opportunities Undertake assessment of opportunities Retains 3rd party advisors to prepare Feasibility studies, needs assessments, and business plans Actively seeks investment/investors Municipality may provide incentives or partnerships to attract tourism investment Reactive Approach Promoter/investor brings Opportuntiy to municipality Access the opportunity in terms of conformity with official plans, zoning, tourism plans etc. Provides information on demographics, available sites, visitation statistics, visitor profiles, etc. Or a combination of both approaches 35#36Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Investment Opportunities Template • • • • • • • • • • • Description of Investment Opportunity Location: (address and important attributes of suggested site) Community Profile: (brief outline of socio-demographic profile and trends, top economic generators, and transportation infrastructure) Tourism Profile and Outlook: (brief description of profile with current and forecasted numbers) Target Market(s): Market Analysis: (indicate current supply and demand) Competition (indicate main competitors) Partners: (list important supportive organizations, potential investors and partners) Constraints: (list the major community support constraints and site constraints) Financial Feasibility: (provide estimated total costs, revenues, expenses, and net earnings) Estimated Investment Amount (indicate total capital investment) Public Support: Endorsement in Official Plan, Political Champions • • Key Contact: (name, telephone, email, fax, website, etc.) 36#37Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Tourism Investment Opportunities Templates Tourism Investment Opportunities Template For Tourism Related Resale Opportunities Tourism Investment Opportunities Template For Municipal Economic Development Opportunities Title of the Project: Name of the Business: Description of Investment Opportunity including Zoning Allowances: Location: Available Land or Building Size: Community Profile: Tourism Profile and Outlook: Market Analysis: Partners: Competition: Local Government Subsidies and Advice: Financial Feasibility: Key Contact: Notes: Description of the Business: Location: Available Land or Building Size: Community Profile: Tourism Profile and Outlook: Market Analysis: Asking Price and Terms of Sale: List of Assets/Chattels: Local Government Subsidies (if applicable): Key Contact: Notes: 37#38MINISTRY OF TOURISM, CULTURE AND SPORT Ontario Create a Tourism Lands Inventory Your organization can create an inventory of tourism development land sites throughout your region. This inventory of certified tourism investment ready land will be endorsed by your muncipality. The goals are to: 1) Identify premium development sites that meet minimum requirements for investment readiness 2) Create a land inventory matrix with key contact information for properties 3) Make recommendations for use of the land inventory information for future activities of the Municipalities, Region, RTO the Government of Ontario and other agencies. 38#39MINISTRY OF TOURISM, CULTURE AND SPORT Ontario What is a certified Tourism Land Site? Tourism Sites • A tourism development site is one that has no normal encumbrances to development. Such sites could have the following minimum characteristics: Be serviced with electricity, water and sewer • • Serviced with high speed telecommunications No significant environmental issues • Designated in the municipality's Official Plan and Zoning By-law as Commercial (attractions, accommodations, restaurants), Open (parks, marinas), Holding (subject to additional studies) or Transitional Zones (subject to future use). 39#40Ontario MINISTRY OF TOURISM, CULTURE AND SPORT Next steps - What MTCS can do for you • • • • Provide investment ready workshops specific to your investment attraction business cases. Assist to create a premium "market-ready" tourism related real estate inventory Work with you on Tourism B.R. & E. What is the succession plan for your major tourism operators? Be your conduit to the investment community for existing RFPs or EOIs on tourism related development projects Collaborate on a asset study - What's working, and what can be improved? Provide information on the Tourism Development Fund that supports projects which result in investment attraction, product and experience development and industry capacity building Add your investment cases to our Ontario Tourism Investment Opportunities Report 40 40#41Ontario MINISTRY OF TOURISM, CULTURE AND SPORT This presentation was provided to the Ontario East Municipal Conference September 12, 2013 Please do not distribute without consent of the Investment and Development Office of the Ministry of Tourism, Culture and Sport. Thank you. [email protected] 41