Title
Capital Region Board Regional Economic Development Initiative
Proposed Motion
That the Governance and Priorities Committee receive the Capital Region Board's Economic Development Initiative for information, as presented.
Body
Administration Recommendation
Administration supports the motion that the Governance and Priorities Committee received the presentation by Parkland County's Economic Development and Tourism for information.
Purpose
Members of Council requested a presentation from Parkland County's Economic Development and Tourism to provide information regarding a motion made by the Capital Region Board to approve in principle the formation of the Regional Economic Development Entity. The Capital Region Board's motion was approved, as follows:
"That the Capital Region Board approve the Edmonton Metropolitan Region Economic Development Strategy as recommended, in principle, by the Governance, Priorities, and Finance Committee, subject to consultation with the CAO advisory committee:
1. Resolving, advising and reconciling on potential role conflict between the CRB, municipalities and the entity regarding duplication in Governance.
2. Ensuring alignment with the Growth Plan.
3. Assessing alternatives to either validate or recommend the FORM of the joint Economic Development Initiative with the CRB and the Entity moving forward.
4. Bringing forward an estimate of cost given recommended and/or alternative joint economic approaches.
5. Bringing forward comment on the operational cost implications.
6. Administration working with all Economic Development Initiative Steering Committee and Working Group members to provide more clarification on the areas highlighted by the Greater Edmonton Region Chambers of Commerce to assist the Capital Region Board to make a decision on recommending the Economic Development Framework and Strategy."
Summary
The above motion was approved on Thursday June 11th at the Capital Region Board meeting. The history is that approximately four (4) years ago the Capital Region Board considered a possibility of a regional economic development agency, but decided at that time not to pursue it further. Then about six (6) months ago they decided to revisit the matter. A steering committee was formed that included representatives from several chambers, economic development groups, and municipalities. In addition, a working group was formed to provide recommendations to the steering committee. The working group was comprised of seven (7) economic developers from around the region: Edmonton, Parkland County, St. Albert, Strathcona County, Sturgeon County, Leduc Nisku, and Spruce Grove. The attached documents are the final result of the two groups.
Strategic Plan/Policy/Legal/Staff Implications
None at the present time, but could fit into the Economic Development areas of the strategic plan.
Financial Impact:
Cost: To be determined
Source of Funding: To be determined
Other
The Regional Economic Development Entity could have a significant impact on Parkland County. The ultimate goal would be for it to generate a number of leads for Parkland County to pursue with the intent of attracting new business to Parkland County.