“I want to have an impact on the region (where) I got my start.”
Even though he’s familiar with the region, he said he has a lot to learn, and a lot of work to do in the months ahead. LaMantia said the first thing he’ll do as CEO is build a team, set priorities and create a collaborative tone within the region and with his board.
“After all, the funding partners matter. I know there is going to be a lot of scrutiny,” he said of his position.
“It’s going to be important for me to be present, to make sure that I stay in people’s faces.”
LaMantia will be responsible for accomplishing some of the goals set out in the region’s economic development strategy. With a limited budget and specific goals in the strategy, it will also be important for him to get to know the other players in economic development and the existing businesses to handle what the corporation can’t.
“We will have to work as partners with the other players in the region, cultural, university players, business, educational institutions,” he said.
But the success of economic development isn’t solely on his shoulders, although he is feeling some of that weight.
“The reality is it takes a community — a willing host community, good political leadership, the right business environment and talent.
“So I’m going to set the bar very high ... I can’t take for granted that there will be success, but I do think that all the ingredients are there for a successful organization.”
And whatever he did at the province, he’s leaving at the door.
“It doesn’t matter what I did at the province, no one cares here. And they are going to look to the corporation and to me to set an example — collaborative tone, results focused.”
While it’s important to attract new businesses to the region, he also recognizes how important it is to stay connected to the ones already here.
“We really have to stay engaged.”
For him that also means working with other cities, so if local companies need to expand to other locations, they are supported.
“I’m a big believer in that you can’t put white picket fences around a municipal border and expect it to be attractive for an international investor — it’s probably not attractive for local companies who want to scale globally.”
Iain Klugman, CEO of Communitech, worked with LaMantia many times before he was appointed to WREDC.
“A couple of things make him a winning formula,” Klugman said, citing LaMatia’s commitment to the community and his ability to see it differently because he admired it from afar.
“He knows the players around the world. He’s a phenomenal promoter, sales person, business development deal maker and then, on top of all that, he’s just a great guy; he’s a real collaborator.”
Klugman said the region was looking for something different. “Not boondoggles and cigars and red wine, but the strategic and bringing a sales process to the role and the function, he’s got all that.”
Tony lamantia - "Inveting the future"
http://www.exchangemagazine.com/currentissue/ExchangeVol34No3/ExchangeVol34No3.pdf
Slow start meant building a strong foundation
When Tony LaMantia was hired as first-ever President and CEO of the new Waterloo Regional Economic Development Corporation, he got very busy, very quickly – even if it didn’t look like it, at first.
Because, he explains, one of his first priorities was to listen.
To listen to community leaders, from the business sector, the political arena, and the crucial education sector. His next priority was to assemble the right team, to tackle a challenging assignment.
So it may have seemed a bit of a surprise when, in late 2016, a lot of things seemed to start happening, including the rebranding of the whole enterprise under the caption, “Waterloo EDC – inventing the future.”
That’s no small accomplishment in itself – the multifaceted region has never been amenable to being marketed as a single brand, but somehow, LaMantia and his team have accomplished it.
LaMantia explains: “Global branding and positioning in the private sector is all about the clarity of your corporate identity, value proposition and competitive advantage. I feel that in many ways the brand chose us, and not the other way around. Our goal… will be to continue to work with our partners and key stakeholders to bring our compelling brand promise to life.”
The research carried out by the WREDC found that, “It was very clear that the name ‘Waterloo’ is how the international business community identifies this Region… By building on the world-renowned strength of the ‘Waterloo’ name, the new brand identity clearly conveys our Canadian identity, key points of positioning of our innovation eco-system, simplifies our message and conveys an ease of doing business in the minds of our target audience.”
The creation of the Economic Development Corporation is a major step for the Region. It replaced the venerable Canada’s Technology Triangle, but the mandate of the EDC is much broader that that of the CTT. It’s also a much leaner organization – it’s run by a 13-person board of directors representing the business and educational sectors – but significantly, there are no politicians or municipal administrators on the board. And now, one year into the existence of the Economic Development Corporation, the organization can boast a growing list of accomplishments.
The leadership team has been assembled, many lured from leadership positions in other organizations. LaMantia himself was recruited from his role as assistant deputy minister of the investment and industry division of the Ontario Ministry of Economic Development.
The EDC has begun to meet the key objectives identified by LaMantia and his team. He points out that they have already had success in attracting Foreign Direct Investment, and facilitating “scale-ups” as companies increase their footprint in the region.
The EDC is also working closely – and in surprising harmony – with the various municipalities, creating a one-stopshopping experience for companies looking to locate in the region. LaMantia’s motto in this area is, “There can be no ‘wrong door’ to great service.” The corporation is also working with the municipalities to finalize an inventory of investment-ready, shovel-ready sites.
LaMantia is enjoying the challenges of the new job. He may be working to lower expectations when he says, “On a $2 million budget, we’re not going to change the world,” but he cannot hide his enthusiasm for what WREDC has accomplished in its first year – trade missions to California, Germany and; a consensus achieved on the brand name; and an unprecedented level of cooperation between the regional municipalities.
LaMantia says, “We are an Economic Development Corporation… and we have rapidly become a very, very good one.”
