ICET APPROVES FOUR PROJECTS TO SUPPORT INVESTMENT ATTRACTION

Wednesday, October 17, 2018

COURTENAY – After doing the work to develop detailed economic development and investment attraction strategies, four communities are receiving funding through the Island Coastal Economic Trust to help them get the word out to the world.

 “Campbell River, Ucluelet, Port Alberni, and Gabriola Island have each been approved for projects that will support development of unique websites and other marketing tools designed to present the community’s strengths to their target investor markets,” said ICET Chair Josie Osborne.

The Gabriola Island Chamber of Commerce will receive funding to execute on the community’s recently-completed 3-year strategic plan. The project will include a website, community profile and other tools to support business retention, expansion, and attraction.

The City of Port Alberni will also receive funding to support the development of a web-based investment attraction portal, along with other digital marketing materials. This renewed and expanded web presence will help the community market and enhance its investment and supply chain opportunities in emerging sectors such as aerospace, value-added forestry and the marine sector.

The District of Ucluelet will continue to build on its economic development strategy and its business and retention initiative (UBERE), with the development of materials focused on investment attraction.  The materials developed will focus on Ucluelet’s existing strengths as well as identify underserved markets to attract new investment to the region. In partnership with the Chamber of Commerce, the project will also develop the response capacity to serve potential investment leads.

The City of Campbell River will receive funding to develop seven core sector profiles to enhance its existing online investment attraction presence. The project will also include the development of short digital clips to support investment attraction consistent with modern social media marketing trends.

“In today’s competitive global marketplace, communities must ensure that potential investors can access key data, across multiple platforms, in a timely manner,” said ICET Chair Josie Osborne.  “The Vancouver Island economy and supply chain is highly interconnected, and we can all benefit by presenting our investment opportunities to the world in a compelling manner.”

Funded through ICET’s Economic Development Readiness Program, the ‘Investment Attraction Tools’ funding stream is focused on helping communities create long-lasting tools required to attract investment. Examples of those tools include community profiles, community or sectoral investment attraction websites or initiatives such as the development of community investment response teams.  More information about the program can be found at: islandcoastaltrust.ca/economic-development-readiness.

All four projects are expected to begin in fall of 2018 with completion dates by March 2019 or earlier.

About the Island Coastal Economic Trust

Created and capitalized by the Province of BC, the Island Coastal Economic Trust has been at the forefront of economic diversification, planning and regional revitalization for the past eleven years.

ICET is independently governed by a Board of Directors and two Regional Advisory Committees which include more than 50 locally elected officials, MLAs and appointees from the Island and Coast. This exceptional team of leaders collaborate to set regional priorities and build vital multi-regional networks.

Through a community centered decision-making process, ICET has approved more than $50 million in funding for over 190 economic infrastructure and economic development readiness projects. These investments have leveraged over $270 million in new investment into the region creating more than 2500 construction phase jobs and 2600 long term permanent jobs.

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

-end-

For further information:

Line Robert, CEO
Island Coastal Economic Trust
Tel. 250-871-7797 (Ext. 227)
line.robert@islandcoastaltrust.ca

Mayor Josie Osborne, ICET Chair
District of Tofino
Tel. 250-725-3229
osborne@tofino.ca

2,500
person years employment created (construction phase)
50
locally elected officials and MLAs working together
$10.4
million annual provincial government revenue generated
2,600
post completion jobs created
$4.6
dollars leveraged for every ICET dollar invested
$230
million leveraged into the region
$49.1
million disbursed
$50.9
million committed
185
economic development projects
150
projects completed
36%
projects in small (less than 5,000) communities
50+
communities with ICET projects

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