Resident and Entrepreneur Relocation Program (Core Sample Clauses

Resident and Entrepreneur Relocation Program (Core. With the long-term evolution in the global economy away from the production of physical goods toward the production of services, especially in advanced economies like Canada's, the importance of human capita becomes more and more critical. Technology-based and business and professional services companies have a huge portion of their asset value reliant on the accumulated know-how and technical ability of their skilled workers. This is also increasingly true for the economic potential of a community and as a result, competition between communities is more and more based on the attraction and retention of human capital. Ideal targets include new residents who either possess advanced skills and can work for existing Comox Valley companies or public sector organizations, as well as entrepreneurs who will start a business that ultimately employs other residents. A variant of these groups is a “lone wolf” who works independently as a remote employee or contractor, a description that applies to many of the attendees at the technology sector focus group and others involved in the growing tech community in the Comox Valley. Tapping into the linkages between the Valley's existing tech community and their networks in larger centres, with the goal of attracting similar individuals and companies (or company divisions), is another possible target. Having more residents creates other economic benefits. First, they are consumers and expand the local market for various shops and services. This impact is enhanced if the new resident has a significant non-employment source of income, such as pension or investment income as a retiree. The economic analysis (see Appendix B) shows the Comox Valley with one of the lowest income shares from employment in the province, demonstrating how much these non- employment income sources are already supporting the regional economy. Not all retirees are necessarily senior citizens, however. Many military personnel from 19 Wing Comox retire in their 40s or 50s with many productive work years ahead of them, yet still have the benefit of a fixed pension income. Targeting retired military personnel from across the country who have been posted to 19 Wing Comox at one point in their career is a possible market to tap into. Some retirees are no longer interested in day-to-day involvement with a business, but can provide financial resources and management advice in support of other local companies and entrepreneurs. All of these possible economic ro...