(rdnewsNOW/Ashley Lavallee-Koenig)

By Ashley Lavallee-Koenig

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Economic development: Temporary committee to advise council on governance options

Sep 16, 2024 | 7:04 PM

Red Deer could be updating its approach to economic development after city council unanimously approved the formation of an ad hoc committee to address prosperity and recommend a new governance model to council.

Formation of the committee received approval in the Sept. 16 regular city council meeting. The committee is to consist of no more than 10 individuals who will apply and then be nominated for the position by November 2024. Residents, businesses, and leadership figures are all encouraged to apply, officials say.

The committee will function under a temporary term and is expected to have a report and recommendation for council by April 30, 2025. Officials say council will then use this report to inform a decision on the City’s economic development model moving forward by June 30, 2025.

“We really need to look at the structure of economic development,” explained Mike Olesen, general manager of growth and finance, “a lot of times, either the economic development body is within the municipality, or it’s an external agency that is independent but has a strong connection to the municipality. It’s more a matter of, what is the right model for Red Deer? There’s a lot of power in each and as a municipality, we need to consider it critically.”

The goal is to align the City’s economic development with the Red Deer 2050 Vision and statement of prosperity.

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“There’s been economic indicators, measures throughout Red Deer, where we’re not satisfied with how the economy of Red Deer is progressing. Economic development plays a significant role in influencing that,” Olesen said. “We really want to challenge that position and make sure we’re doing things appropriately, so the right structure, the right level of resourcing to help us advance forward. Now is the time because we want our economy to be strong.”

The budget for the committee is expected to be $30,000 and will be funded within the current (2024) economic development contracted services budget on a one-time basis. If the work has not been completed by June 30, 2025, council may opt to extend the timeline.

Vision 2050 was adopted by council on June 24, 2024. The vision states, “Red Deer is vibrant and visionary, grounded in connection and growing in diversity.”

One of the pillars of the document is prosperity. The goal for prosperity envisions: “Through community connections, we actively build a diverse and innovative business environment with distinct competitive economic advantages. Red Deer is committed to growth through pursuing opportunities to connect regionally, nationally and globally.”

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