The Town of Olds, Invest Olds, and Community Futures Central Alberta have announced a new formalized partnership to support economic development in the region. The partnership was unveiled during a kick-off event at the Town of Olds office. The highlight of the event was the launch of the Regional Business Support Network, made possible through the collaborative efforts of the partners. The network will receive funding for two positions over the next two years to implement the Next Generation Economy Initiative and provide support to local and regional businesses. Michelle McFadden has been appointed as the new Business Development Advisor, while Anne Serrano will serve as the Digital Service Specialist for the Regional Business Support Network. The Next Generation Economy Initiative is funded by Prairies Economic Development Canada through the Community Futures Pan West Network [c0e3e718].
The North Central Pennsylvania Regional Planning and Development Commission continues its economic development efforts with the establishment of the Pressed Materials Strategy Development Consortium. The consortium, supported by a $400,000 grant from the U.S. Economic Development Administration, aims to position local companies in Cameron, Clearfield, Elk, Jefferson, McKean, and Potter counties to produce and deploy technologies critical to entering new markets, such as electric vehicle production. Johnny Williams from Penn State's DuBois campus will serve as the consortium's regional innovation officer. In fiscal year 2023, North Central secured over $3 million in funding and closed four project loans, retaining 151 jobs and creating 12 new opportunities. The commission's loan portfolio has grown to include 172 loans representing $19.9 million in financing and $12.299 million in outstanding principal. The commission has also reported growth in its workforce development initiatives, particularly through the WEDnetPA program, which provided extensive training to over 1,000 employees from 38 companies [d10cd3d9].
Governor Josh Shapiro has launched Pennsylvania's Economic Development Strategy, the first comprehensive plan in almost 20 years. The plan aims to address the state's lagging economic development by investing in economic growth, promoting innovation, and building vibrant and resilient regions. It also focuses on making the government more business-friendly and opening doors of opportunity for all Pennsylvanians. The strategy identifies five key industry sectors for targeted resources and growth opportunities: energy, robotics and technology, life sciences, manufacturing, and agriculture. Governor Shapiro plans to create the Pennsylvania Innovation Fund and Pennsylvania's Regional Hubs Challenge to support innovation and regional development. The plan will require funding, but the Governor does not intend to raise taxes to implement it [e1a3222c].
Governor Shapiro's $600 million budget proposal for the 2024-25 fiscal year aligns with his broader economic development strategy. The proposal includes a $100,000 Keystone Partnership grant for storefront improvements in Honesdale and a $25 million Main Street Matters program. These investments are designed to stimulate economic growth and promote inclusivity in the state. The budget proposal also includes funding for the U.S. Economic Development Administration's Tech Hubs Program, which aims to enhance regional capacities in workforce development, business innovation, and technological advancement. These strategic investments and collaborative efforts exemplify Governor Shapiro's commitment to making Pennsylvania a national leader in job creation and innovation [10c2d1af], [e1a3222c].
The West Highlands of Scotland are experiencing economic growth and diversification, driven by investments in renewable energy, manufacturing, and hospitality. However, challenges such as talent attraction, housing, and infrastructure development remain. Governor Shapiro's budget proposal, the Tech Hubs Program, and the growth of the West Highlands exemplify efforts to foster economic development and prosperity through strategic investments and collaborative efforts [10c2d1af], [e1a3222c].
In southeast Ohio, the Buckeye Hills Regional Council is seeking input from residents to create a Comprehensive Economic Development Strategy (CEDS) for the region. In the past, the council relied on a small group of stakeholders, resulting in a focus on attracting manufacturers and business retention and expansion, while neglecting the arts and outdoor recreation. However, this time, the council is taking a community-based approach and has held workshops and meetings to gather input from residents. The region's strengths identified by attendees include its natural beauty and sense of community. The council aims to challenge the public's preconceptions of economic development by emphasizing the importance of small businesses and entrepreneurship. The region also faces challenges such as a lack of affordable housing, access to clean drinking water, and broadband access. Buckeye Hills is downsizing initiatives from sister organizations to better serve the communities it represents. The council aims to promote sustainable economic growth and development by investing in small local businesses [b19fec0a].
Meanwhile, in Murrindindi Shire, Australia, the local council is seeking feedback on their draft Economic Development Strategy. The strategy, which was shaped by community input, outlines key priorities and initiatives for the next five years. To deliver the Priority Outcomes, a two-year rolling Action Plan will be developed. Residents, business owners, and visitors are invited to review the draft Strategy and provide feedback through an online survey on The Loop platform. The council aims to gather valuable insights and ensure that the strategy reflects the needs and aspirations of the community. The feedback period will close on May 12, 2024 [0ece4e90].
Bayside City Council in Australia is also seeking feedback on their new five-year Economic Development, Tourism and Placemaking Strategy (EDTPS). The draft Strategy includes actions and initiatives to support the local economy, foster sustainable tourism, and create vibrant activity centers. The top three factors identified by the community to boost the Bayside economy are social media marketing support and training, more food and wine festivals, markets, concerts, and musical performances, and cleanliness of public areas, greening, and public places to sit. Residents and stakeholders are encouraged to provide feedback on the draft Strategy until May 9, 2024 [6c4181cf].
The City of Kawartha Lakes in Canada is seeking feedback to refresh their Economic Development Strategy, which will serve until 2029. The strategy will establish the economic vision, mission, and objectives for the next five years. The project team is seeking feedback from community members, businesses, and partners through surveys and in-person workshops. The Kawartha Lakes Economic Development team supports business attraction, start-up, expansion, and retention, as well as tourism and culture throughout Kawartha Lakes [03fa5cd3].
A new formalized partnership has been announced in the Town of Olds, Canada, to support economic development in the region. The partnership includes the Town of Olds, Invest Olds, and Community Futures Central Alberta. The highlight of the announcement was the launch of the Regional Business Support Network, which will receive funding for two positions over the next two years. The network aims to implement the Next Generation Economy Initiative and provide support to local and regional businesses. Michelle McFadden has been appointed as the new Business Development Advisor, while Anne Serrano will serve as the Digital Service Specialist for the Regional Business Support Network [c0e3e718].