ICET Announces Funding Support for Tofino Downtown Revitalization Project

Monday, March 4, 2013

For Immediate Release

Courtenay, BC.  The Island Coastal Economic Trust (ICET) today announced funding approval of $132,007 towards the Fourth and Campbell Streetscape Improvement Project in Tofino. The total cost of the project is estimated at $528,000.

 In March of 2011, the District of Tofino began a community planning process for an improved visitor experience that culminated in the award winning Tofino Downtown Vitalization Plan.  The first phase of a larger revitalization plan – the Tofino Fourth and Campbell Streetscape Improvement Project – is now poised to begin.   The project features wider sidewalks, public seating areas and viewpoints designed to improve the pedestrian connections and pedestrian access to the downtown commercial area.  This strategy aligns with research demonstrating that increased pedestrian access is a significant catalyst for increased economic development and diversification in downtown areas. The Tofino Downtown Vitalization Plan will also include waterfront viewpoints, public and green spaces, heritage preservation and additional parking thereby improving the overall tourist experience and enhancing the economic opportunities for the region.

 The downtown revitalization project utilizes the Main Street Four Point Approach® developed by the US National Trust for Historic Preservation, a time-tested initiative that encourages a holistic approach to downtown revitalization.   This approach, required by ICET in all downtown revitalization projects, integrates community organization and collaboration, professional design and promotion with economic restructuring to strengthen the community’s existing assets while diversifying its economic base.

 “The Island Coastal Economic Trust is pleased to support this community driven initiative to rejuvenate Tofino’s downtown area by improving pedestrian connections and access,” stated ICET Chair Phil Kent.  “Not only will this project support and encourage more pedestrian traffic in the downtown commercial core, it will also create a more attractive and fertile location for future business development and economic diversification.”  

 "Tofino's Fourth and Campbell Streetscape Improvement Project will go a long way to invigorating the economic and cultural activities taking place in downtown Tofino,” stated District of Tofino Mayor Josie Osborne.  “The community pride that results from a revitalization project like this will help us promote Tofino as a very liveable community that is open to visitors, new residents and business investment." 

About the Island Coastal Economic Trust

The Island Coastal Economic Trust is a $50 million endowment established in 2006 by the Government of British Columbia to help diversify the economies of central and northern Vancouver Island and the Sunshine Coast.  ICET funds community driven economic development initiatives in targeted sectors to spark new and sustainable regional economic growth.  These sectors include: forestry, transportation, tourism, mining, energy, economic development, agriculture and aquaculture, and small business.  

 ICET is managed by an independent Board of Directors comprised of thirteen members – eight Mayors and five provincial appointees from the ICET Region.  ICET has approved $47 million for almost 90 projects on the Island and Sunshine Coast since implementing its grant program in 2007. ICET investments have leveraged over $260 million in additional funding to the region.

 A full overview of ICET can be found at www.islandcoastaltrust.ca

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For further information:

Mayor Phil Kent, ICET Chair
City of Duncan
Tel. 250-709-0186
mayor [at] duncan [dot] ca

Line Robert, CEO
Island Coastal Economic Trust
Tel. 250-871-7797 Extension 227
line [dot] robert [at] islandcoastaltrust [dot] ca               

Mayor Josie Osborne
District of Tofino
Tel.  250-725-3229
osborne [at] tofino [dot] ca

ICET By The Numbers

2,500
person years employment created (construction phase)

ICET By The Numbers

50
locally elected officials and MLAs working together

ICET By The Numbers

$10.4
million annual provincial government revenue generated

ICET By The Numbers

3,650
post completion jobs created

ICET By The Numbers

$4.6
dollars leveraged for every ICET dollar invested

ICET By The Numbers

$236
million leveraged into the region

ICET By The Numbers

$50.5
million disbursed

ICET By The Numbers

$52.1
million committed

ICET By The Numbers

212
economic development projects

ICET By The Numbers

170
projects completed

ICET By The Numbers

36%
projects in small (less than 5,000) communities

ICET By The Numbers

50+
communities with ICET projects

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