Report on Performance
At the time of the September 2005/06 – 2007/08 Service Plan Update, the Ministry of Economic Development was in the process of restructuring to meet its new mandate. This restructuring involved new areas coming to the Ministry and some business areas moving to other Ministries.
During the fall and winter of 2005/06, the Ministry engaged in a process which determined the goals, objectives and strategies that it would focus on a going forward basis. The Ministry also reviewed and revised its performance measures and targets in order to ensure that progress towards its revised goals could be monitored. The table following presents the Ministry's current goals, objectives and performance measures. This table has been used to organize the body of the Ministry's 2005/06 Annual Service Plan Report. Appendix 3 of this report documents the changes that were made to the goals which appeared in the September 2005/06 – 2007/08 Service Plan Update, while Appendix 4 documents performance for the 2005/06 – 2007/08 Service Plan measures no longer included.
Performance Plan Summary Table
Synopsis of Ministry Performance Measure Results
The Ministry reviewed and revised its performance measures and targets in the fall and winter of 2005/06 in order to ensure that progress towards its revised goals could be monitored. The table below presents a synopsis of the Ministry's current performance measures. Appendix 4 documents performance for the 2005/06 – 2007/08 Service Plan measures no longer included.
| Performance Measures | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Number of new immigrant investors and value of their investments.* | 119 $47.5 M |
$47.5 M | $58.8 M | 11.3 M |  |
| Number of new immigrants attracted to B.C. as business immigrants or skilled workers.* | 1300 | 1300 | 2491 | 1191 | |
| Number of investment leads identified by in-market representatives. | New | N/A | N/A | N/A | N/A |
| Venture capital growth in the province year-over-year.* | $2.2 B | $2.2 B | $1.98 B | ($220,000) |  |
| Industry investment projects, assisted by the Ministry, investment dollar value and new jobs created. | New | N/A | N/A | N/A | N/A |
| Federal, municipal and private funds invested to match provincial investment in community infrastructure.* | $70 M leveraged $35 M provincial funds |
$70 M leveraged $35 M provincial funds |
$201 M leveraged $93 M provincial funds |
131 M leveraged 58 M provincial funds |
|
| Regional and municipal competitiveness indicators. | New | N/A | N/A | N/A | N/A |
| Number of persons assessed and time to complete assessment of credential of persons trained abroad. | New | N/A | N/A | N/A | N/A |
| Number of skilled immigrants entering the workforce through Skills Connect. | New | N/A | N/A | N/A | N/A |
| Success rate in meeting milestones, on time and on budget, of the Provincial commitments to the 2010 Olympic and Paralympic Winter Games.* | On time, on budget | On time, on budget | On time, on budget | — |  |
| Cumulative total of businesses registered for the 2010 Olympic and Paralympic Winter Games.* | 1500 | 1500 | 1879 | 379 | |
| * Indicates 2005/06 performance measure was maintained and/or combined. Exceeded target. Achieved target. N/A — Not Applicable. Target not achieved. Rationale provided in individual performance measure table. N/A — Data unavailable as performance measure is new per 2006/07 – 2008/09 Service Plan. |
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Goals, Objectives, Strategies and Performance Measures
Ministry Goal 1
B.C. is recognized globally as a preferred place to live, work, invest and do business and as a key gateway for commerce on the Pacific coast.
Objective 1
Increased recruitment and accelerated permanent resident status for skilled professionals and business investors.
This objective focuses on maximizing the benefits of immigration by attracting and retaining immigrants and enabling permanent resident status for skilled professionals and business investors who are best able to contribute to B.C.'s economy.
Strategies
- Increase international activities to attract more qualified business immigrant and provincial nominees.
- Reduce processing time for applicants through the B.C. Provincial Nominee Program (PNP).
Performance Measures
Number of new immigrant investors and value of their investments.The Provincial Nominee Program (PNP) is designed to increase the economic benefits of immigration to the province by selecting immigrants based on their ability to contribute to the economy. This particular measure gauges the benefits of financial investment generated from new immigrants in the PNP investor category.
Number of new immigrants attracted to B.C. as business immigrants or skilled workers.This measure gauges the expedited entry of skilled immigrants into the B.C. economy. As one of the Business Immigration categories, applicants are required to make an investment of $400,000 in a Government of Canada Fund.
| Performance Measure | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Number of new immigrant investors and value of their investments * | 119 $47.5 M |
$47.5 M | $58.8 M | 11.3 M | |
| Selection Rationale | Measure allows the Ministry to compare statistics across Canada. The Ministry manages the funds that B.C. receives from the Federal government, which is a % share of total funds flowing into the Federal Investor Fund. Amount received is based on B.C.'s share of Canada's population and GDP. | ||||
| Variance Explanation | None. | ||||
| Data Sources and Issues | Federal government (fixed subscription amount). | ||||
| Changes to the Measure | This 2005/06 measure was maintained. The number of new immigrant investors is no longer being measured as the destination of immigrant investors is not within the control of the province. The number of investors coming to B.C. is independent of the dollar value of investment funds the province receives from the Federal government. | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined.Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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| Performance Measure | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Number of new immigrants attracted to B.C. as business immigrants or skilled workers * | 1300 | 1300 | 2491 | 1191 | |
| Selection Rationale | Measure tracks program progress and ability to address B.C. skill-shortages and meet employer needs through expedited immigration processing. | ||||
| Variance Explanation | Benchmark: PNP Strategic Occupations 500; PNP Business 100; Federal Entrepreneur Program 250; and Federal Investor Program
450 = total 1300. 2005/06 Actual: PNP Strategic Occupations 721; PNP Business 85; Federal Entrepreneur Program 269 and Federal
Investor Program 1416 = total 2491.
2005/06 saw a decrease in number of applicants in the business category, but an increased number in strategic occupations, for a net positive variance of 1191. This is a demand driven service. |
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| Data Sources and Issues | Data source — Internal and Citizenship and Immigration stats from Federal government. | ||||
| Changes to the Measure | This 2005/06 measure was maintained. Changes will be implemented in future to separate the individual components of the Provincial Nominee Program into business and skilled workers categories. | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined. Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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Objective 2
Increased FDI to expand and diversify commercial opportunities in B.C.
This objective is aimed toward promoting the province's advantages and opportunities in order to increase trade and investments in high-growth, high-opportunity sectors. The Ministry will also focus on facilitating capital investment projects, particularly in the regions. Foreign direct investment (FDI) contributes to job creation, capital investment, productivity growth, and innovation, which in turn supports economic growth.
Strategies
- Leverage commercial opportunities in the Asia-Pacific and the awareness of the 2010 Winter Games to increase FDI and commerce for B.C.
- Lead B.C.'s international activities with other western provinces through the Western Canada Secretariat.
- Develop and implement the Asia-Pacific Strategy, incorporating recommendations from the Asia-Pacific Trade Council.
- Identify, service, and attract FDI from international markets.
- Engage in-market consultants to undertake FDI attraction and trade promotion activities.
- Build stronger partnerships with key players active in Asia-Pacific marketing and international business development.
Performance Measure
Number of investment leads identified by in-market representatives. The Ministry will engage in-market representatives in key foreign markets to undertake investment attraction and trade promotion activities on behalf of B.C. This measure represents the number of foreign direct investment leads identified by these in-market representatives. An investment lead is defined as a company that has an investment project planned, a short list of locations, a budget assigned and a project lead.
| Performance Measure | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Number of investment leads identified by in-market representatives. | New | N/A | N/A | N/A | N/A |
| Changes to the Measure | This is a new measure that appears in the 2006/07 – 2008/09 Ministry Service Plan. | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined. Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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Objective 3
Increased availability of venture capital to encourage innovative business development throughout the province.
This objective is aimed toward increasing the amount of venture capital available to B.C. small and mid-sized businesses. It enables them to grow and compete in fields requiring intensive research and development. Venture capital will allow companies to increase diversification and enhance their economic performance. In addition, the Ministry efforts in repealing outdated and obsolete legislation and regulations makes it easier and more efficient to raise capital, invest and do business in B.C.
Strategy
- Maximize availability of venture capital in the province.
Performance Measure
Venture Capital growth in the province year-over-year.This measure gauges how innovative small businesses continue to have access to capital and to attract investment capital from outside the province.
| Performance Measures | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Venture capital growth in the province year-over-year* | $2.2 B | $2.2 B | $1.98 B | ($220,000) | |
| Selection Rationale | Indicates commercialization rates in the province, availability of capital and number of new ventures reaching the financing stage. | ||||
| Variance Explanation | MDS Capital's office closed and the Royal Bank no longer offers Venture Capital financing reducing the supply of capital under management in the province. Both of these decisions were made by their office headquarters in eastern Canada. | ||||
| Data Sources and Issues | Data source — Thomson Macdonald (Venture Reporter Database). This database is based on voluntary submissions. | ||||
| Changes to the Measure | N/A. | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined. Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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Ministry Goal 2
All British Columbians live in prosperous regions and are able to achieve their economic potential.
This goal focuses on maintaining a competitive business environment, increasing diversification of regional and provincial economies, providing infrastructure for a growing economy and responding to the demand for skilled labour.
Objective 1
Advance economic growth and enhanced business competitiveness in every sector and region.
This objective focuses on fostering economic growth and diversification and improving the province's business competitiveness in all provincial regions and sectors. The Ministry provides assistance for infrastructure development across the province and partners with governments and the private sector to advance growth and diversification, particularly within regional communities.
Strategies
- Work with the B.C. Competition Council to conduct a comprehensive review of B.C.'s competitiveness and recommend government and private sector actions.
- Lead the implementation of economic initiatives that support government's strategic priorities and advance key sectors.
- Work to remove barriers to inter-provincial trade through the Premier's Council of the Federation, the existing national Agreement on Internal Trade, and other negotiations.
- Establish regional economic development trusts to enable locally-led projects to diversify their economies and to support regional alliances.
- Work with key partners and investors in communities to facilitate economic development on the ground.
- Continue to improve federal and provincial relationships to enhance the delivery of joint funding programs.
- Lead the facilitation and negotiations across government of major industry investment projects.
- Work with the Industry Training Authority (ITA) and employers to increase the number of apprentices in B.C.
Performance Measures
Industry investment projects, assisted by the Ministry, investment $ value and new jobs created. The Ministry works with major industry investors to clarify regulatory requirements, provide an initial single contact point where more than one regulatory agency is involved, engage with key agencies and proponents, advise on approaches to work with First Nations and assist in project and agency specific issue resolution to move projects ahead. This measure shows the total jobs created and investment value if the project becomes operational.
Federal, municipal and private funds invested to match provincial investment in community infrastructure. This measure gauges the success of the Ministry in maximizing the efficiency of provincial contributions in leveraging Federal, municipal and private funding to support community facilities, infrastructure and other regional development projects. The basis for target setting comes from joint Federal/Provincial agreements.
Regional and municipal competitiveness indicators. The attractiveness of a municipal and regional investment climate is important in generating economic development throughout B.C. and investment is more likely to flow to those communities that are competitive.
| Performance Measures | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Industry investment projects, assisted by the Ministry, investment $ value and new jobs created | New | N/A | N/A | N/A | N/A |
| Changes to the Measure | This is a new measure that appears in the 2006/07 – 2008/09 Ministry Service Plan. | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined. Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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| Performance Measures | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Federal, municipal and private funds invested to match provincial investment in community infrastructure.* | $70 M leveraged $35 M provincial funds |
$70 M leveraged $35 M provincial funds |
$201 M leveraged $93 M provincial funds |
131 M leveraged 58 M provincial funds |
|
| Selection Rationale | Measures the economic activity generated as a result of provincial funding. (Payments made from the Infrastructure Development's programs during the 2005/06 fiscal year). | ||||
| Variance Explanation | The Infrastructure Development Branch was responsible for the allocation of additional resources for new initiatives in 2005/06, which resulted in an increase of actual amounts. | ||||
| Data Sources and Issues | Data source — Actual payments from various branch programs during the 2005/06 fiscal year. | ||||
| Changes to the Measure | This 2005/06 measure was combined from two (2) to one (1). | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined. Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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| Performance Measure | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Regional and municipal competitiveness indicators representatives. | New | N/A | N/A | N/A | N/A |
| Changes to the Measure | This is a new measure that appears in the 2006/07 – 2008/09 Ministry Service Plan. | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined. Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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Objective 2
Increased and accelerated credential assessments for new Canadians in trades/professions.
This objective focuses on reducing the time it takes to assess credentials of foreign-trained immigrants and increasing the number of those who are assessed which will accelerate placing new Canadians in skilled jobs. The degree to which skill shortages are averted will help ensure that the province has a skilled workforce and be a large determinant of B.C.'s future economic prosperity and social health.
Strategies
- Work with the Federal government and professional organizations to increase jobs and speed up credentialing for new Canadians in trades/professions.
- Working with other Ministries, agencies and labour market partners, lead the development and implementation of a provincial labour market strategy.
- Assist new immigrants to overcome barriers to employment through the B.C. Skills Connect for Immigrants Program.
Performance Measures
Number of persons assessed and time to complete assessment of credentials of persons trained abroad. Reducing the time that it takes to assess the credentials of foreign-trained professionals and trades persons reduces the delay in integrating immigrants into the labour market and is a significant contributor to skilled workforce. Under the International Qualifications Program, which aims to reduce obstacles to the recognition and utilization of the foreign-trained, the Ministry supported ten new "barrier-breaking" pilot projects that involved employer associations, regulatory bodies, professional and trades associations, educational institutions and service agencies.
Number of skilled immigrants entering the workforce through Skills Connect. This measure gauges the success of the Skills Connect initiative in increasing the economic contributions from immigrants, and generally increasing labour supply to meet market demand. Skilled immigrants to B.C. are remaining unemployed or under-employed longer due to skill gaps and challenges in transitioning to the B.C. labour market. The non-recognition of foreign credentials is consistently cited as a significant barrier to labour attachment. The Skills Connect for Immigrants Program is an integrated career assessment, planning and employment bridging program that aims to enhance and accelerate labour market integration for immigrants. The Ministry selected service organizations for the target sectors of construction, energy, transportation and tourism and continues to develop the program for the health sector in cooperation with the Ministry of Health. The Ministry is continuing to work with the Federal government and professional organizations to accelerate credentialing processes. Federal funding in support of such projects was maximized by securing commitments totaling $15.86 M for credential and enhanced language programs over the next three years to match the Ministry's $14.5 M investment in Skills Connect.
| Performance Measure | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Number of persons assessed and time to complete assessment of credentials of persons trained abroad. | New | N/A | N/A | N/A | N/A |
| Changes to the Measure | This is a new measure that appears in the 2006/07 – 2008/09 Ministry Service Plan. | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined. Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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| Performance Measure | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Number of skilled immigrants entering the workforce through Skills Connect. | New | N/A | N/A | N/A | N/A |
| Changes to the Measure | This is a new measure that appears in the 2006/07 – 2008/09 Ministry Service Plan. | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined. Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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Ministry Goal 3
B.C. hosts a successful Vancouver 2010 Olympic and Paralympic Winter Games to create a legacy of economic benefits for the province.
This goal focuses on maximizing the economic and social benefits to B.C. while minimizing potential risks of hosting the Vancouver 2010 Olympic and Paralympic Winter Games.
Objective 1
The province's financial commitments to the 2010 Winter Games are met.
The Secretariat's primary role is to provide strategic leadership, coordination and oversight to ensure the province meets its financial, infrastructure and service commitments for the 2010 Winter Games.
Strategies
- Ensure the province's financial commitments to the 2010 Winter Games do not exceed the approved budget.
- Oversee and monitor legal structures and funding mechanisms to support Games related initiatives.
Performance Measure
Success rated in meeting milestones of the provincial commitments to the 2010 Winter Games. The 2010 Olympic and Paralympic Winter Games Secretariat is the primary provincial organization responsible for ensuring B.C.'s investment in the 2010 Winter Games results in an event that is on time and within the approved budget. This measure assesses that project management is within standard provincial accounting and financial management practice.
| Performance Measure | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Success rate in meeting milestones of the provincial commitments to the 2010 Winter Games.* | On time, on budget | On time, on budget | On time, on budget | — | |
| Selection Rationale | Measures the performance of providing oversight and following the provincial financial management framework in managing the $600 million funding envelope and meeting the milestones of the provincial commitments. | ||||
| Variance Explanation | Expenditures made on individual components were within established budget. | ||||
| Data Sources and Issues | Data source — Government fiscal budgets. | ||||
| Changes to the Measure | This 2005/06 measure was maintained. | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined. Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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Objective 2
2010 Winter Games business opportunities and jobs are maximized throughout the province.
The Secretariat plays a key role in ensuring that opportunities associated with hosting the 2010 Winter Games are identified early and realized before, during and after the 2010 Winter Games and that these opportunities evolve into enduring legacies for communities around the province.
Strategies
- Work with lead agencies and partners to provide tools and information for communities and businesses, using such tools as the 2010 Commerce Centre to pursue the 2010 Winter Games related opportunities.
- Provide timely and effective issues management within the province and among partners and stakeholders.
- Act as a coordination hub for provincial activities, projects and key relationships related to the 2010 Winter Games. Develop and deliver tools for community and stakeholder outreach.
Performance Measure
Cumulative total of businesses registered for the 2010 Olympic and Paralympic Winter Games procurement opportunities. This measures the effectiveness of the outreach programs to B.C. businesses for the 2010 Olympic and Paralympic Winter Games by calculating the cumulative total of businesses registered for the procurement opportunities advertised by the 2010 Commerce Centre B.C. and Canadian businesses are able to register and receive directed information on business arising opportunities.
| Performance Measure | Benchmark | 2005/06 Target | 2005/06 Actual | Variance | Results |
|---|---|---|---|---|---|
| Cumulative total of businesses registered for the 2010 Winter Games procurement opportunities.* | 1500 | 1500 | 1879 | 379 | |
| Selection Rationale | Measures the number of B.C. businesses registered to receive 2010 business opportunities. This measure is important because it reflects the success of the 2010 Commerce Centre to engage B.C. businesses and communities. | ||||
| Variance Explanation | The outreach programs offered were more successful than anticipated. | ||||
| Data Sources and Issues | Data source — Registration database. | ||||
| Changes to the Measure | This 2005/06 measure was maintained and originally included the number of B.C. businesses registered for the 2010 Commerce Center newsletters. It was amended to provide a more effective measure without overlap as a business can register for both opportunities and newsletters. | ||||
| * Indicates 2005/06 performance measure was maintained and/or combined. Target not achieved. Exceeded target. Achieved target. N/A — Not Applicable. |
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Regulatory Reform
Please refer to Cross Ministry Initiatives section of the Strategic Context on page 15 for information on how the Ministry is supporting the Government's Regulatory Reform initiative.
