The Town of Okotoks has joined in investing to strengthen the Greater Calgary area economic growth.
As part of a region-wide effort to create more jobs, attract new businesses and expand opportunities for residents, the Town of Okotoks has joined the Invest Greater Calgary (ICG).
The ICG is a collaborative partnership that will unite the communities to help showcase the region's strength to the world.
This initiative not only is regional investment, but it also helps the region to collectively compete in international markets, as well as drive long-term economic growth.
"Economic development doesn’t stop at municipal borders," explained the Town of Okotoks Mayor, Tanya Thorn, in a media release. "By working together through Invest Greater Calgary, Okotoks will benefit from broader investment opportunities, shared resources and a stronger regional voice to attract new business and talent."
The Town of Okotoks, the City of Calgary, City of Airdrie, City of Chestermere, Town of Cochrane, Foothills County, Town of High River and Rocky View County all signed a Memorandum of Understanding that formalized this collaborative effort.
Funding for this initiative is split amongst the members, based on population, tax assessment, and a base contribution, with additional funding having been secured through provincial and federal economic development programs.
Through Invest Greater Calgary, they aim to make the region the most attractive place in North America to invest and grow business in key sectors, and over the next three years, they will focus on strengthening the region's reputation and competitiveness, attracting new investment, expanding existing business, supporting innovation and industry cluster development, and advancing job creation and workforce growth.
An Advisory Committe of municipal representative is leading this initiative and coordinated by Calgary Economic Development.
A project team will lead the project delivery, research, and partner engagement throughout the pilot.
By participating in IGC, it gives Okotoks access to regional research, marketing support, and collaboration on projects that support local business retention, investment readiness, and future non-residential growth.
"This initiative helps us tap into new tools and expertise that we wouldn’t have access to alone," said Chris MacIsaac, the Town of Okotoks community identity manager, in the media release. "It is a deliberate and strategic investment that supports the long-term prosperity of Okotoks and directly aligns with the desired outcomes of our Economic Development Strategic Plan."
IGC believes that regional economic development strengthens individual communities, and through this partnership, the Town of Okotoks is in a position to help shape and benefit from the region's economic future.
"Regional collaboration is expected to positively contribute to building capacity in economic development within our community," said Mayor Thorn. "It’s a win for Okotoks and a win for the region."
To learn more about this initiative, click here.