Report to: Economic Development Committee                            Date of Meeting: April 3, 2007

 

 

SUBJECT:                          BIO 2007

PREPARED BY:               Stephen Chait, Economic Development Director x 4871

 

 

 

RECOMMENDATION:

 

That the report entitled “BIO 2007” be received,

 

And that the Town authorize the Director of Economic Development to participate in the annual BIO International Convention, in Boston, May 6-9, and related business development initiatives at a total cost not to exceed $4,800 to be funded from within the Economic Development 2007 base operating budget, Business Travel account #610-9985201,

 

And that the Chair of the Economic Development Committee be authorized to participate in the same event for a one day period at a cost not to exceed $1,100 to be funded from within the Economic Development 2007 base operating budget, Business Travel account #610-9985201.

 

EXECUTIVE SUMMARY:

 

 

FINANCIAL CONSIDERATIONS:

 

The cost of this initiative totals $5,900 and includes:

 

Economic Director portion:

            Airfare and ground transportation          $1,100

            3 nights hotel and meals                        $1,200

            Conference fees                                    $2,000

            Marketing & promotion                           $500

 

Economic Development Chair portion:

            Airfare and ground transportation             $800

            Conference fees                                       $300

           

The $5,900 is to be funded from within the 2007 Business Travel account #610-9985201.


1. Purpose                     2. Background                      3. Discussion                        4. Financial        

 

5. Others (Environmental, Accessibility, Engage 21st, Affected Units)             6. Attachment(s)

 

PURPOSE:

To authorize Economic Development staff and the Chair of the Economic Development Committee to represent the Town at BIO 2007 in Boston.

 

BACKGROUND:

BIO is North America’s largest biotechnology industry organization representing more than 1,100 biotechnology companies, academic institutions, biotech centres, and related organizations across the US, Canada, as well as 30 other nations. The annual BIO convention attracts more than 20,000 industry leaders and over 1,700 exhibitors. Featuring a comprehensive program of seminars, presentations, displays, and networking programs, BIO 2007 offers Markham an opportunity to examine and learn about the latest in biotech and life sciences developments, including bio and research park developments, and to identify where and why investments are occurring around the world.

 

Markham’s representatives will participate at BIO 2007 in Boston as members of the Ontario and YORKbiotech delegation. This will afford our representatives with the advantage of making use of the Ontario pavilion, and participating in the Ontario and Canadian delegation programs. The Chair of the Economic Development Committee will participate in the formal opening ceremonies of the trade show program components and will be a lead delegate in scheduled (same day) visits to targeted life sciences businesses and institutions in Boston.

 

 

OPTIONS/ DISCUSSION:

 

FINANCIAL TEMPLATE:

None                         


 

ENVIRONMENTAL CONSIDERATIONS:

None                         

 

ACCESSIBILITY CONSIDERATIONS:

None                         

 

ENGAGE 21ST CONSIDERATIONS:

The biotechnology/life sciences cluster is a key focus in the Town’s strategy to establish, promote and support Markham as the best location for diverse high-tech and other leading businesses.

 

BUSINESS UNITS CONSULTED AND AFFECTED:

The Finance Department has reviewed this planned expenditure.

 

 

RECOMMENDED

                            BY:    ________________________          ________________________

                                      Stephen Chait, Director                      Jim Baird, Commissioner

                                      Economic Development                      Development Services

 

 

 

ATTACHMENTS:
  1. Conference agenda and pricing.