MAIN STREET 2.0 - TOFINO TO LAUNCH $550K DOWNTOWN REVITALIZATION

Monday, December 12, 2016

COURTENAY – The next phase of the District of Tofino’s downtown revitalization will get underway in early January, rehabilitating the historic main street and restoring it as a viable and attractive location for business investment in the community and enhanced staging area for new tourism opportunities.

The $533,000 project will receive an investment of $117,000 from the Island Coastal Economic Trust.

“As Tofino has grown as a Resort Municipality, we’ve focused on building infrastructure that supports visitor experience, economic opportunity and business growth, and community life,” said Tofino Mayor Josie Osborne. “Our phased approach to revitalize downtown Tofino has enabled us to build on past successes, leverage support, and maximize the benefits of revitalization.”

Tofino is engaged in a multi-phase revitalization project, and the work supported by ICET in the first phase has generated tangible benefits, including new business startups, sale of key investment property and a significant increase in foot traffic contributing to increased profits for existing businesses.  The Main Street project, expected to begin early in the new year will shift the focus to the historic commercial centre of town.

“Our investment focus is to provide project funding that spurs further sustainable economic activity, and downtown revitalizations are a proven strategy for doing just that,” said ICET Chair Phil Kent. “This project helps Tofino put its best foot forward for the tens of thousands of visitors it attracts and functions as a catalyst to leverage new business investment.”

The project will create a continuous pedestrian connection, leverage the natural and historic assets to strengthen the visitor connection to the waterfront and set the stage for the development of a scenic waterfront walkway, highlighting Tofino’s working waterfront.

“The design will encourage visitors and residents to explore downtown Tofino from a new perspective,” explained Osborne. “It will showcase our historic assets and highlight the connection to the harbour which is the jumping off point for First Nations communities, Meares Island Tribal Park and Clayoquot Sound, a UNESCO biosphere reserve.”

About the Island Coastal Economic Trust

Created by the Province of BC in 2006, the Island Coastal Economic Trust is celebrating its tenth year of investment in economic diversification, planning and regional revitalization.

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-centred decision-making process, ICET has approved $49 million for over 160 economic infrastructure and economic development readiness projects.  ICET investments have leveraged over $270 million in 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 Phil Kent, ICET Chair
City of Duncan 
Tel. 250-709-0186
mayor@duncan.ca

April Froment, Manager of Resort Municipality Initiative Services
District of Tofino
T 250.725.3229 (Ext. 22)  
afroment@tofino.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

2018-19 Annual Report

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