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SWOT Analysis - Executive Summary

In 2002, the SGE Group Inc. was retained by the City of Miramichi to prepare the Miramichi Economic Development Initiative. The overall purpose of the Economic Development Initiative is to provide strategic direction to the City of Miramichi and partners over the short to medium term to increase the level of foreign investment. This investment can result from existing locally-based firms pursuing international markets, or foreign interests purchasing local operations or setting up new facilities within the City of Miramichi that use local labour, products and services as inputs.

Based upon an extensive consultation program and analysis of the local economy and broader trends, the Steering committee selected several internationally focused action plans for the Miramichi Economic Development Initiative. These action plans will be undertaken as stand alone initiatives or partnerships with Enterprise Miramichi and others. The selected Action Plans are:

• A new management and organization structure within the City of Miramichi where a single point of contact will be used for all of the Economic Development initiatives.
• An On-Line Real Estate database of industrial, commercial and institutional properties that are housed on the city’s web-site.
• An International Trade and Investment Action Plan for local firms to pursue international opportunities.
• A Local Business (International Activity Support) Action Plan that provides demonstration project funding to assist local firms to improves their relationship between price and quality to international standards.
• An Executive Relationship Management Plan that targets senior executives in specific sectors.
• An Immigrant Entrepreneur Action Plan that focuses on partnerships with Business New Brunswick under the Provincial Nominee program.