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Creative Economy Economic Analysis Tools Presentation to: AMO Economic Development Task Force Ministry of Agriculture, Food and Rural Affairs Presented.

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Presentation on theme: "Creative Economy Economic Analysis Tools Presentation to: AMO Economic Development Task Force Ministry of Agriculture, Food and Rural Affairs Presented."— Presentation transcript:

1 Creative Economy Economic Analysis Tools Presentation to: AMO Economic Development Task Force Ministry of Agriculture, Food and Rural Affairs Presented by: Karla Uliana Rural Development Policy Unit September 17, 2010

2 Why Community Economic Analysis? OMAFRA has recognized the need to improve communities’ understanding of their local economies Our aim is to: - make sure communities have the skills and knowledge to approach economic development planning in an analytical manner - make sure communities have data and analytical information to inform the development and implementation of a local economic development strategy “Increasingly, the outcome of competitive situations hinges on the ability of firms to access and apply information, and the knowledge it contains, to their strategic advantage.”

3 Suite of Data and Analytical Information 1.Socio-Economic Data (custom profiles 2001 and 2006) –Statistics Canada Census of the Population, MapInfo Estimates and Projections, Daytime Population, Income by Age, Household Expenditure Estimates 2.Municipal Business Profiles (2003-2009) –Presents the number of registered businesses representing each sector by employment size category for a selected municipality 3.Labour Flow Analysis (2001 and 2006) –Provides a picture of the movement of labour (jobs classified by industry and occupation) into and out of a municipality Industry Creative Economy 4.Competitive Advantage Analysis (1996-2001 and 2001-2006) –identifies the best prospects for building the economy in a community/region in order to help focus economic development efforts. Industry Creative Economy 5.Downtown Market Analysis to support Downtown Revitalization –Trade Area Analysis, Market Threshold Analysis, Community to Community Retail and Service Business Comparisons

4 Creative Economy What is the Creative Economy? According to Richard Florida, it is an economy: - driven by ideas, innovation and knowledge - in which people are paid to think: to use ideas, innovation, knowledge and collaboration in their work (across all sectors) - which shifts from routine-oriented jobs to creativity-oriented jobs Creativity-oriented occupations are high autonomy jobs where workers are paid to think, e.g., artists, doctors, nurses, senior managers, architects Places with higher levels of creative workers are more innovative, have higher wages and have more rapid economic growth Culture is central to quality of place; it is one of the essential ingredients in attracting creative people and resources, as well as, stimulating creativity and innovation (Glen Murray)

5 Creative Economy A study was recently conducted to help Eastern Ontario capitalize on the economic growth potential related to the creative economy –(“Canada’s Creative Corridor: Connecting Creative Urban and Rural Economies within Eastern Ontario and the Mega Region” Martin Prosperity Institute, Authenticity, miller-dickinson-blais) One of the recommendations put forward was the development of a “self-assessment tool for communities to measure or gauge their readiness for the creative economy based on key factors and performance indicators. Consider OMAFRA as a potential partner in this regard”

6 Creative Economy Competitive Advantage Analysis The purpose of these tools is to undertake analysis to identify the best prospects for building the creative economy in a community/region and to help focus economic development efforts by: 1.Understanding the specific realities of the creative economy in your community/region 2.Analyzing creative occupation concentration, relative to the provincial average –Location Quotients 3.Analyzing creative occupation growth/decline, relative to the provincial average –Shift-Share Analysis

7 Creative Economy Competitive Advantage Analysis: ‘The Creative Class’ Creative Occupations Classified using Richard Florida’s framework for the creative class –Super creative core ( e.g. science, engineering, arts) –creative class ( e.g. finance, health, legal) –service class –working class

8 Creative Economy Competitive Advantage Analysis: ‘Culture Occupations’ Cultural Occupations Classified using Statistics Canada Canadian Framework for Culture Statistics –Culture Occupations Creative and artistic production occupations, heritage collection and preservation occupations –Culture Support Occupations Cultural management, technical and operational occupations, manufacturing occupations

9 Location Quotient Analysis Measures the relative concentration of each occupation in your local economy compared to provincial average Local occupation specializations signal local competitive advantages Shift-Share Analysis Measures the competitiveness of a community/region by providing an estimate of total local employment growth/decline of an occupation (over a period of time, usually census periods) that is attributable to: 1.The performance of the provincial economy 2.The performance of the occupation provincially 3.Local factors Creative Economy Competitive Advantage Analysis

10 The analysis can point to creative occupations that enjoy a local competitive advantage (e.g. growth or high concentration). The information cannot, however, identify why there is a competitive advantage Usually based on two factors: 1.Local industries that require creative workers 2.Quality of place - something local attracting creative workers to your community/region, e.g., natural amenities, cultural amenities, etc. Need for further analysis to identify what factors have contributed to the local competitive advantage - community consultation Community consultation (e.g. with employers, with employees, with residents) can help identify what factors have contributed to the local competitive advantage, for example: –Creative industries/businesses –Natural amenities –Outdoor recreation opportunities –Cultural opportunities –Quality of local schools –Social tolerance Competitive Advantage

11 Target consultations with residents who are part of the creative class to identify: –Community strengths and/or opportunities that can be leveraged to advance the creative economy –Community weaknesses and/or threats that can be minimized/eliminated to advance the creative economy Focus on: –Creative class occupations more concentrated in your region –Creative class occupations whose growth locally was greater than the occupations’ growth provincially Community Consultations

12 Developing a Strategy to Grow the Creative Economy Quantitative Analysis + Community Consultation = Development of local strategy to advance the creative economy We have limited experience as to the capability of clients to interpret this information and what their expectations are as to the relevance of the data OMAFRA is currently working with a few communities as “case studies” in order to be able to document the experiences of some “early adopters”

13 Creative Economy Competitive Advantage Analysis: Questions? Mike Florio Community Economic Development Specialist OMAFRA 519-826-6606 michael.florio@ontario.ca


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