Economic Development … Shift is Happening
As we wrap the year and look towards 2020, we can say unequivocally that 2019 has been a tremendous year for moving Summerside’s economy forward and all indications are that 2020 will see that momentum continue. While there is still some uncertainty in the global markets looking ahead, Summerside is continuing to stay strategically focussed on its core strengths and aggressively concentrating on addressing gaps in the local economy.
Investments in Summerside have hit an all time high in 2019 with building permits increasing year over year by over 60%, Provincial population growing by over 2.6% and labour and employment levels rising over the national average. Some highlights of the office for the year include:
- Engaging with over 60 local enterprises seeking expansion advice regarding labour recruitment and investment briefs on the fiscal advantages of the city
- Economic Development opening of over 75 investment files with clients looking to establish businesses in Summerside (not including Immigration Candidates)
- Created over 2,000 unique monthly impressions through social media, newsletters on doing business in Summerside, raising the profile of opportunities that exist in the market
- Major Real Estate Transactions
- Work beginning on the new Eco Park
- Working on several policy initiatives to further our pro-business stance
- Participation in several local, regional, national and international events in partnership with several partners to promote Summerside
- The Adoption of a 4 Year Strategy to grow our percentage of Industrial/Commercial Assessment from 18.6% to a minimum of 21% by focussing on new tools, communications and relationships to further this goal.
It has been a positive year in terms of the establishment of new business enterprise new investments in all sectors of our economy and a heightened level of interest in new projects for 2020. This has all contributed to a high level of vitality and activity that will move our economy forward.
We believe 2020 will be an interesting time for Economic Development with the plans for several major projects, some proposed enhancements to the economic support programs to attract targeted large-scale developments, heightened interest in our new Eco Park and the strong growth in immigration investment which will position Summerside to substantively move the community forward.
With the growing pipeline of immigration investment (in addition to targeted investment files) demand for new space in Summerside for 2020 could top over 300,000 square feet in the retail, commercial and industrial real estate stock. Our goal is to ensure we capitalize on as much of this demand as possible by working with our partners to properly position existing stock as well as bringing to market new inventory to meet this demand.
Uncertainty in global markets and variables outside the control of our local influence is certainly leading to some inherent issues that will have to be addressed head-on. Some of our core areas of effort will be to address the lack of move-in ready space in Summerside, enhance our labour recruitment efforts and implement key programs to support multi-unit development in Summerside along with our core retention and attraction efforts.
Our goals, actions and path forward are being implemented to give the Summerside Investment community the help they need to succeed, making smart investments to grow our economy for the long term and embrace more cooperation and partnerships to realize those aspirations by working in partnership with our key growth partners.
On behalf of Neil and myself, as we close out 2019, we want to wish all our partners, clients and investors in Summerside health and happiness for 2020. We want to thank you for your engagement, interest and support in moving our great community forward and look forward to working with you in 2020!
Eco Park Update
Summerside and Samsung SRE … Growing International Ties with South Korea
While the construction season has ended, the work on Summerside’s new and innovative Eco Park is still full steam ahead. While mother nature dealt us an early taste of winter weather, the park managed to achieve a significant milestone with the completion of all the underground services for phase 1 bringing 5 of the 7 lots to fully serviced status.
Summerside EDO is currently finalizing all the park covenants, zoning requirements and special tenant inducements for an early construction season in the spring of 2020. The Summerside Eco Park is going to be different than a traditional Business “Industrial” Park as it has embraced 5 key principles designed to reduce unnecessary costs to tenants of the park and bring thoughtful synergies to its tenants.
- Implementing global environmental policies stewardship
- Establish collaborative partnerships
- Measurable resource costs savings in electric, water, sewer
- Reduction in overall corporate carbon footprint for all tenants
- Preserve and integrate natural habitats
Interest in the park has been received with enthusiasm and several prospective tenants are in detailed discussions with EDO on how to move forward with their expansion and relocation plans. The goal is to start filling the projected 130,000 square feet of potential building footprints on seven lots as soon as possible.
On a recent trip to Ottawa, the Mayor was graciously hosted by Korean Ambassador to Canada, Ambassador Shin. Along for the visit was MP Bobby Morrissey, Edward Cho, President of Samsung Renewable Energy Canada and Sean Kim, Deputy General Manager of Samsung SRE.
Spotlight on Business … Summerside Seafood Supreme
The City of Summerside and Samsung SRE have a long history of collaboration. Our partnership has helped to advance innovation in Renewable Energy and in the building of smarter communities. The partners have worked on several milestone projects to date including the creation of a first in the world Solar/Storage project at Credit Union place and are working on a number of exciting initiatives for the coming years.
With the Support of Ambassador Shin, Summerside looks to forge new relationships and alliances with Samsung and South Korea Enterprise to further our mutual opportunities to advance renewable energy projects, economic development and innovation.
Summerside Seafood Supreme Inc. is a permanent fixture of the Summerside harbourfront, having been located on Queen’s Wharf for as long as most people can remember and, just like a “steady Swiss clock”, the plant is still creating and manufacturing innovative seafood products.
Naturally, as an island, many of PEI’s communities host wharfs and the waters are abundant with aquatic life. On the surface, it may seem like catching fish and then selling them is all there is to the seafood processing industry, but not so at Summerside Seafood Supreme. There are many more aspects to consider in a “ready-to-eat value-added processing” operation, including constant product development, raw material procurement, market knowledge, special transport logistics for chilled food, safety regulations, securing intelligent job creation and a host of other demanding components to ensure production all year round, enhancing community wealth. This is where Summerside Seafood Supreme comes in…
Sometimes a place that’s been around for as long as Summerside Seafood Supreme can be taken for granted and considered stale, but a little research into the facility will quickly uncover an upbeat company that changes with the times, invests in itself, creates new ideas, and employs a dedicated and productive team.
When Gabriel Elbaz, Owner of Summerside Seafood Supreme, started the business he began with a vision and developed the most advanced and innovative product line and equipment at the time. 20 years later, Summerside Seafood Supreme remains a permanent fixture of the Summerside harbourfront on Queen’s Wharf and “innovation” is still the key driver and flagship of the company.
No one could have guessed that so much progress would have been achieved over the years in the transition and upgrade of the operation to a “ready-to-eat processing plant” with a range of innovative products exported all over the world; from its first, and now classically well-known product, “Mussels in Garlic Butter” never frozen with 60 days shelf-life introduced 10 years ago to the making of authentic “Spanish Paella” and American Italian “Cioppino” fish and shellfish stew ready-to-eat products, available at Costco stores throughout the USA (all identified with the signature Product of Prince Edward Island). In addition, there is also a full line of eco-concept Lobster Rolls, Bisques and Sauces and a unique Lobster oil for consumers across the USA, Canada, Europe, and Asia.
“Today we have 14 innovative products and the largest ready-to-eat pasteurized seafood and soups and sauces production capacity in the Maritimes, and all our products are made of all-natural ingredients, non-GMO and gluten-free” Gabriel Elbaz proudly says.
Labour in times of increasing demand is one of the greatest challenges faced by Summerside Seafood Supreme. However, through a combination of its local dedicated personnel and foreign workers, education, training, several million dollars of investment in specially designed machinery and processes, the business has grown to meet this increased demand by increasing capacity. Since seafood processing is more demanding at certain times of the year, much planning is needed to ensure workers are available to match changing demand.
“The days of us having to stay until 10 pm to fill an order are over. We now have efficient processing lines and a team of dependable people that keep things on time, and the plant operates nonstop 12 months of the year” remarked Lenus Bungay, General Manager of the plant.
The USA, Europe, and Asia have traditionally been Summerside Seafood Supreme’s main marketplace, but now the products are making great strides at home appearing more on Canadian shelves at prestigious retailers across the country.
As Lenus Bungay claims, “It really creates a sense of pride when one of our workers walks in a grocery store and sees a product they made. It’s really great for morale.”
Summerside by the Numbers
If interested in learning more about investment opportunities, economic development support or opportunities for growth, please call our Economic Development Professionals.
We would love to chat.
Alternatively, you can email us at email@example.com.
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Director of Economic Development City of Summerside
275 Fitzroy Street, Summerside PE C1N 1H9
M: 902.432.0103, E: firstname.lastname@example.org
LET’S BUILD THE FUTURE TOGETHER!