The 13 municipalities of the greater Edmonton area have all signed on to a plan where working together will advance the economic growth of our communities to help us rebound from the Covid-19 pandemic.
A memorandum of understanding was signed on by all 13 Mares who committed to a Collaborative Economic Development (CED) initiative. The goal of the CED is to advance opportunities across the region by attracting projects that will bring jobs of non-residential status.
Edmonton Global CEO Malcolm Bruce agrees with the move from the municipalities.
“The Collaborative Economic Development (CED) initiative announced today is a positive step in helping us attract international investment in our region. Predictability, transparency, and speed are three of the most important factors in moving deals from the Final Investment Decision (FID) stage through to bring open and in full operation,” explained Malcolm Bruce, CEO Edmonton Global.
Mayor of Stony Plain says, “The CED initiative is an exciting opportunity for economic development in our community. Now more than ever, our municipalities need to work together to improve resiliency, stimulate economic growth, and establish our region as a competitive hub for business development,”
City of Spruce Grove Mayor Stuart Houston said, “We have always been strong supporters of regional cooperation and are very excited to be part of this new initiative,”“Taking a collaborative approach to attract new investment to our communities will benefit all of us as we work together to find opportunities that will support and strengthen our local economy.”
The cost of this new initiative has not yet been worked out by the 13 Mayors who will also act as the oversight committee, there will also be a steering committee which representatives from each municipality but still needs to be created.
The 13 municipalities that make up the Edmonton Metro Region are Beaumont, Devon, Edmonton, Fort Saskatchewan, Leduc, Leduc County, Morinville, Parkland County, Spruce Grove, St. Albert, Stony Plain, Strathcona County, and Sturgeon County.
The above municipalities will share in the tax revenues created by the CED proportionate to their individual Investments.