E C ONOMIC S T R AT E G Y R E V IE W A ND R E NE WA L

ME AS UR ING E C ONOMIC P R OG R E S ST HE HAL IFAX INDE X

FRED MORLEYEXECUTIVE VP AND CHIEF ECONOMIST

T HE HA L IFA X INDE X

• It will tell the economic story of economic progress in our city

• It will measure:– The strength of economic growth– The pace of economic development and the

health of our community– The sustainability of our approach– The quality of life

Economic Progress

Quality of Life

Economic Growth

Sustainability

Economic Development

Economic Growth

GDP Growth

Business Growth

Population Growth

Economic Development

Unemployment Rate

Employment Creation

Income Growth

Quality of Life

Quality Public Services

Safety and Security

Quality Education and

Culture

Economic Sustainability

High Social Capital

Fiscal Stability

Environmental Sustainability

HA L IFA X INDE X C OMP ONE NT S

• A scorecard of macro-economic indicators, benchmarking Halifax against other similar cities;

• Outcome measures that attach to and measure progress related to the strategic goals, objectives and actions of the economic Strategy.

• Provide ongoing tracking of the state of Halifax’s business climate

• Produce an annual quality of place review• The work of the Halifax Index will be undertaken by a

research consortium lead by the Greater Halifax Partnership.

• It will be presented each spring to the community in partnership with the Chamber as a replacement for the scorecard.

T HE S TAT E OF T HE C IT Y C ONF E R E NC E

• An economic “town hall”• Use key indicators to measure results from the last year• Identify challenges and opportunities• Mobilize stakeholders for the challenges and opportunities

ahead• Who attends?

– Thought leaders– Journalists– Elected leaders– Educators and academics– Business leaders– Labour leaders– Knowledgeable and engaged citizens

OUT C OME S

• A strategy progress report• A gut check• Keys to success• A blueprint for action

HOW WIL L WE K NOW WE HAV E S UC C E E DE D?

• More Companies, More Businesses, More People • Larger Labour Force Responsive To Business

Requirements• Sustainable Economic Growth/Activity (GDP)• Higher Average Income • Cost Competitive and a Contagious

Business Environment • Confident Business and Proud People

HOW DO WE C OMMUNIC AT E T HIS

• 15 years• 1200 attend• David Packard Award• A best practice• “Who’s Who”

INDE X E XA MP L E

OT HE R C OMMUNIT Y INDIC ATOR P R OJ E C T S

• California Center for Regional Leadership

• Great Valley Center

• Boston Indicators Project

• Long Island, New York

• Sustainable Seattle

• Pittsburgh Today

• State of the USA

• Jacksonville Quality of Life Indicators

• Georgia Community Indicators

• Baltimore Neighborhood Indicators Alliance

• Anchorage Community Indicators

• Detroit Community Data Connection

• South Carolina Indicators Project

• Dallas Indicators

• Calgary's Vital Signs

• United Kingdom Sustainable Development Indicators

Regional Partnership