Success Stories
Community Economic Development
Regional Strategic Assessment Calgary Regional Partnership with Wild Rose Community Futures, Business Development Centre West, Highwood Business Development Corporation Completed March 2008
The project completion of a “Regional Strategic Assessment” brought together many rural partners and built upon an existing regional partnership of communities, not for profit organizations, and the federal and provincial governments. The Wild Rose Community Futures (WREDC), Business Development Centre West (BDCWEST), Highwood Business Development Corporation (HBDC), together with the Calgary Regional Partnership (CRP), AlbertaFirst.com Ltd., Alberta Economic Development (AED) and 31 municipalities (Acme, Bassano, Beiseker, Carbon, Chestermere, Hussar, Irricana, Linden, Rockyford, Standard, Strathmore, Three Hills, Trochu, Airdrie, Canmore, Crossfield, Carstairs, M.D. of Bighorn, M.D. of Rockyview, Cochrane, Banff, Turner Valley, Black Diamond, High River, Nanton, Vulcan, Vulcan County, M.D. of Willow Creek, M.D. of Foothills, Stavely and Carmangay) identified a gap in the current regional business information available for economic development planning purposes. In 2004 – 2005 the above named project partners united to gather regional, detailed business information. During this time, 10,091 business contacts were made and 6,792 business records were either added or updated, coded for industry classification and employment information in AlbertaFirst.com Ltd.’s Business Attraction Information System (BAIS). In addition, 25 electronic community profiles were updated to reflect data outlined in the International Economic Development Council tables. This information provided a base of knowledge on the region’s business communities and can be used to assist communities with business retention activities, as well as to provide a foundation for assessing the region for potential new investment (i.e. through the identification of possible business clusters or sector strengths). The project partners built upon the information collected in the first phase of this project and identified business sector strengths that can be used to pursue foreign direct investment into the region. This multi-community collaborative effort is important to the three Community Future (CF) regions as it will:
- Provide a greater understanding of the economic base of the region.
- Present a solid foundation to analyze the region’s strengths for future investment opportunities.
- Form an integral part of the three CF region’s long term strategies to diversify the region with long term, sustainable business development.
- Align with the Calgary Regional Partnership’s prosperity pillar as identified in the 2005 - 2007 CRP business plan: “opportunity to promote business development on a regional basis for communities surrounding the City of Calgary”.
- Create a long term strategy that will enable the communities to identify and target specific market and business opportunities.
- Provide much needed financial resources and expertise to the municipalities in the region surrounding Calgary that have minimal means available to to conduct a thorough analysis and develop a long term plan.
- Address the need that many of the communities with relatively small populations in the region have: a regionalized study on the larger geographical area that will provide more meaningful results.
Many of the municipalities located in the Wild Rose, Highwood and BDC West regions lack the expertise and/or financial resources to embark on a business investment strategy. Through participation in a regional approach, the smaller communities can effectively participate and will benefit. The project partners recognize that budget restrictions limit their capacity to market outside of the region. By creating a focused and targeted marketing strategy based on analytical research of the region, new economic prospects and long term, meaningful employment opportunities can be created.
Project highlights:
- Has received financial support through many government partners, including in kind contributions from Highwood CFDC and CF Centre West, financial commitments through the Department of Foreign Affairs and International Trade, Alberta Finance and Enterprise and Community Futures Alberta through the Rural Community Economic Development program
- Is the first ever regional economic development analysis of the rural Calgary region (excluding the City of Calgary)
- Brought together stakeholders from over nineteen communities, all with the purpose of doing “smart, sustainable investment attraction”
- One of the first rural strategies to use sustainability measures to define investment targets (not simply employment potential)
Want to read more? Click on the link below:
For more project information contact:
Diane Berreth, Project Manager CRP diane.berreth@calgaryregion.ca
