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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 S
                 T HE HAL IFAX INDE X




                     FRED MORLEY
EXECUTIVE 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
Quality of Life




 Economic     Economic           Economic
Development
              Progress            Growth




               Sustainability
Business
              Growth


                         Population
GDP Growth
                          Growth



             Economic
              Growth
Employment
                Creation


Unemployment
                             Income Growth
    Rate



                Economic
               Development
Safety and
                  Security

                                 Quality
Quality Public
                              Education and
  Services
                                 Culture



                 Quality
                 of Life
Fiscal Stability


High Social                      Environmental
  Capital                         Sustainability



                 Economic
               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
INDE X E XA MP L E

 •   15 years
 •   1200 attend
 •   David Packard Award
 •   A best practice
 •   “Who’s Who”
OT HE R C OMMUNIT Y INDIC ATOR P R OJ E C T S


•   California Center for Regional Leadership   •   Georgia Community Indicators

•   Great Valley Center                         •   Baltimore Neighborhood Indicators Alliance

•   Boston Indicators Project                   •   Anchorage Community Indicators

•   Long Island, New York                       •   Detroit Community Data Connection

•   Sustainable Seattle                         •   South Carolina Indicators Project

•   Pittsburgh Today                            •   Dallas Indicators

•   State of the USA                            •   Calgary's Vital Signs

•   Jacksonville Quality of Life Indicators     •   United Kingdom Sustainable Development
                                                    Indicators
Regional Partnership

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The Halifax Index

  • 1. 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 S T HE HAL IFAX INDE X FRED MORLEY EXECUTIVE VP AND CHIEF ECONOMIST
  • 2. 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
  • 3. Quality of Life Economic Economic Economic Development Progress Growth Sustainability
  • 4. Business Growth Population GDP Growth Growth Economic Growth
  • 5. Employment Creation Unemployment Income Growth Rate Economic Development
  • 6. Safety and Security Quality Quality Public Education and Services Culture Quality of Life
  • 7. Fiscal Stability High Social Environmental Capital Sustainability Economic Sustainability
  • 8. 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.
  • 9. 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
  • 10. OUT C OME S • A strategy progress report • A gut check • Keys to success • A blueprint for action
  • 11. 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
  • 12. HOW DO WE C OMMUNIC AT E T HIS
  • 13. INDE X E XA MP L E • 15 years • 1200 attend • David Packard Award • A best practice • “Who’s Who”
  • 14.
  • 15. OT HE R C OMMUNIT Y INDIC ATOR P R OJ E C T S • California Center for Regional Leadership • Georgia Community Indicators • Great Valley Center • Baltimore Neighborhood Indicators Alliance • Boston Indicators Project • Anchorage Community Indicators • Long Island, New York • Detroit Community Data Connection • Sustainable Seattle • South Carolina Indicators Project • Pittsburgh Today • Dallas Indicators • State of the USA • Calgary's Vital Signs • Jacksonville Quality of Life Indicators • United Kingdom Sustainable Development Indicators