Economic Development Association plans growth strategies amid recession

As the economic downturn continues to put a strain on industry growth the Leduc Nisku Economic...

As the economic downturn continues to put a strain on industry growth the Leduc Nisku Economic Development Association EDA continues with its three-year plan and adapts to the new challenges businesses face.

The EDA made a presentation to Leduc County council during its Oct. 25 meeting, requesting a 2017 budget contribution of $335,000. “We’re holding that funding request at the 2016 level,” said board chair Kristina Dembinski. The request will be considered during council’s 2017 budget deliberations.

“As you consider your budgets for 2017 know that life in municipalities and the businesses that we serve, we acknowledge and understand that everyone needs to control costs, do more with less and be strategic with our expenditures.We at the EDA are doing the same and have made significant efforts to implement cost reduction measures, such as moving to a smaller same,” said Dembinski.

She added the EDA will continue to support the region by focusing on business development and attraction, in 2017.

The 2015 to 2017 strategic plan includes three main goals of the EDA: building capacity and ensuring organizational sustainability, strengthening collaborations and regional partnerships, and stimulating economic development withing the region.

The organization states there was a 13 per cent vacancy rate in the Nisku Business Park and 50 per cent underutilized space in the Leduc and Nisku business parks during the summer.

“However, there are still opportunities,” said Barbara McKenzie, executive director. She says businesses need to focus on new, innovative technology and models, and adopt a “lower for longer” mindset.

In order to strengthen economic development for the region the EDA is creating tailored strategies to align changing priorities and maintaining communications with already located and potential business or investment ventures.

McKenzie says the organization is pleased with the advances it has made this year. “We’re well over our targets this year and quite proud.”

Under investment attraction the organization engaged with 56 companies regarding location opportunities and joint ventures; two new businesses have been located in the Nisku Business Park.

In mid-November the EDA is taking part in a China Trade Mission. “It’s a significant investment attraction hosted by the Government of Alberta,” said McKenzie.

“Over 80 Alberta companies and economic development associations will be meeting with over 300 Chinese representatives to look at investment opportunities across the board,” she added.

A Netherlands Trade Delegation, a Japan Aerospace Tradeshow and an Ottawa Government Relations Mission were also highlighted during the presentation as still to come this year.

In 2017, investment attraction will be focused on agribusiness, energy, manufacturing and aerotropolis activation.

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Health Minister Tyler Shandro said Thursday that the province was ready to move forward with Phase 2A and B in the coming weeks. (Photo by Paul Taillon/Office of the Premier)
COVID restrictions for retail, sports and performers further eased

Occupancy in stores and malls boosted to 25 per cent from 15 per cent

Advocate file image
Red Deer COVID cases continue to decline

249 cases in Red Deer, down from 565 peak on Feb. 22

A SAGA member (left) poses as Jessi Hanks (right) with Castle Restaurant puts up a safe space sticker to display on the restaurant’s front door. Shaela Dansereau/ Pipestone Flyer.
SAGA Wetaskiwin works with local businesses to display they are a safe space

The safe space stickers show that its a safe and inclusive space.

File photo
Gov’t of Alberta identifies estimated 300 new COVID-19 cases Sunday

Online COVID-19 dashboard unavailable as upgrades being completed

(The Canadian Press)
‘Worse than Sept. 11, SARS and financial crisis combined’: Tourism industry in crisis

Travel services saw the biggest drop in active businesses with 31 per cent fewer firms operating

David and Collet Stephan leave for a break during their appeal hearing in Calgary on Thursday, March 9, 2017. THE CANADIAN PRESS/Todd Korol
Alberta Appeal Court orders 3rd trial for parents in toddler’s meningitis death

Stephans were accused of not seeking medical attention sooner for Ezekiel, who had meningitis when he died

A health-care worker prepares a dose of the Pfizer-BioNTech COVID-19 vaccine at a UHN COVID-19 vaccine clinic in Toronto on Thursday, January 7, 2021. THE CANADIAN PRESS/Nathan Denette
Vaccine hesitancy decreases in B.C. as mass immunizations set to begin: poll

Two-thirds of British Columbians, and Canadians, would get the vaccine as soon as possible

A woman walks through Toronto’s financial district on Monday, July 30, 2018. A new poll suggests most Canadians believe there’s still a long way to go to achieve gender equality in this country. THE CANADIAN PRESS/Graeme Roy
Canadians, especially women, say gender equality not achieved in Canada: Poll

Poll results themselves underscore the challenge, with more men believing equality had been achieved

This image provided by Harpo Productions shows Meghan, The Duchess of Sussex, left, in conversation with Oprah Winfrey. (Joe Pugliese/Harpo Productions via AP)
Race, title and anguish: Meghan and Harry explain royal rift

Meghan said she struggled with concerns within the royal family about her son’s skin colour

Kiara Robillard is seen in an undated handout photo. When the pandemic began, Robillard had to rush back home to Alberta from California, where she had been living for five years, after she was struck by a truck that broke her spine in two places. THE CANADIAN PRESS/HO-Kiara Robillard, *MANDATORY CREDIT*
‘It kind of clicks:’ Text4Hope program helps with depression, anxiety during pandemic

Participants receive one text message every morning for three months

Hockey hall-of-fame legend Wayne Gretzky, right, watches the casket of his father, Walter Gretzky, as it is carried from the church during a funeral service in Brantford, Ont., Saturday, March 6, 2021. HE CANADIAN PRESS/Nathan Denette
Walter Gretzky remembered as a man with a ‘heart of gold’ at funeral

The famous hockey father died Thursday at age 82 after battling Parkinson’s disease

Supporters rally outside court as Pastor James Coates of GraceLife Church is in court to appeal bail conditions, after he was arrested for holding day services in violation of COVID-19 rules, in Edmonton, Alta., on Thursday March 4, 2021. THE CANADIAN PRESS/Jason Franson
‘Law remains valid:’ Pastor accused of violating health orders to remain in jail

The Justice Centre for Constitutional Freedoms is representing the pastor

A decommissioned pumpjack is shown at a well head on an oil and gas installation near Cremona, Alta., Saturday, Oct. 29, 2016. The Alberta Energy Regulator says it is suspending all of the licences held by an oil and gas producer with more than 2,200 wells and 2,100 pipelines after it failed to bring its operations into compliance. THE CANADIAN PRESS/Jeff McIntosh
Alberta Energy Regulator suspends licences of oil and gas producer that owes $67M

The company is being asked to comply with past orders to clean up historic spills and contamination

Most Read