[PETERBOROUGH] The Greater Peterborough Area Economic Development Corporation (GPA EDC) and the Greater Peterborough Innovation Cluster (GPIC) presented the results of the Industrial Transition and Investment Project (ITI Project) at an event held today.
The ITI Project is a significant economic development initiative of the GPA EDC and the GPIC. Funded in conjunction with the National Research Council’s (NRC) Industrial Research Assistance Program (IRAP), the objective of the ITI Project is to support the expansion of the Nuclear, Wind and Solar Energy, and Water Treatment Industries in the Greater Peterborough Area (GPA).
The research identifies opportunities in the local energy supply chain that can potentially be filled by companies that are already located in the GPA or that can be used to attract new investment in the energy sector to the area.
“This research clearly demonstrates that innovative ways of combining businesses in the Greater Peterborough Area, and strategic partnerships with external firms, can lead to great economic benefits to the community in the growing energy and water sectors.” Stated Andy Mitchell, GPA EDC President & CEO.
The GPA EDC also presented a marketing strategy that was designed to highlight the results of the ITI Project and the Growing and Emerging Business Sectors in the region. The strategy includes a number of components with the focus on on-line advertising and website enhancements including video integration.
To download the entire ITI Project report and results, click HERE
Background and ITI Project Key Findings
- Each of the four industries is in the early stages of a major growth phase in Canada based on a global emphasis on reducing greenhouse gas (GHG) emissions, and protecting and enhancing water quality. Progressive Ontario Government policies, most notably the Feed-in Tariff (FIT), are presently making Ontario a global focal point for this growth.
- Based on market research, a survey process, and interviews with industry participants, 37 companies in the Greater Peterborough Area were identified as active in one of the four focus industries, and 10 others were identified as interested in entering one or more of the focus industries. These 47 companies, the large majority of which are locally owned small-medium enterprises, make up the GPA’s substantial, yet previously diminishing, Energy and Water Sector. These 47 companies were plotted on the supply chains of the four focus industries revealing a strong presence across each of the four industries, clusters of capabilities in many supply chain segments, and gaps in others.
- The GPA’s strong existing capabilities in energy and water, built on its legacy as a hub for hydroelectric and nuclear energy, combine with the global trends in nuclear, wind, solar and water treatment to create a seemingly unlimited set of possibilities:- 4 very attractive, shifting industries.- 37 active, growth-oriented companies open to acquisitions, mergers, joint ventures and strategic alliances to achieve their objectives.- Local, growth oriented companies from within and across industries interested in energy and water opportunities.
- Today’s global energy and water trends are creating immediate potential for positive, transformative change for the GPA economy, and its companies. Quick and decisive action will be key to exploiting these opportunities in this age of global competitiveness.
