Advancing Pacific Rim Knowledge and Innovation

Westcoast Aquatic Management Association

Sources of Funding
ICET:$29,950
Westcoast Management Association:$24,950
Clayoquot Biosphere Trust:$5,000
Total Budget: $59,900

Communities need year-round economic development opportunities that capitalize on their existing assets and demographics. The economy of Pacific Rim communities was heavily dependent on seasonal tourism and needed to diversify to be more resilient and sustainable. The region attracts a younger demographic on a seasonal basis and the development of year round opportunities presents an opportunity to retain this group as permanent residents.

The region’s communities and First Nations have joined forces to identify opportunities for the development of a new knowledge based economy.  The project will assess education and research opportunities based on the communities’ assets and demographics.  Fostering entrepreneurship through business incubation and mentoring is one of the anticipated outcomes of the project, as is developing world-class research and instruction capacity by attracting educators, researchers, and students. The plan calls for a regional network with a central hub and nodes in each community which will be focused on niche opportunities aligned with each community’s needs and assets.

Once complete, it will support west coast communities as they move forward collaboratively building a strong regional position that will enable them to retain the considerable youth demographic in their communities. 

 

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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