The economic development strategy has been distributed to a number of potential investors of whom two are currently looking at possible investments in the community.
The Village of Sayward is a small community located 75 kms north of Campbell River. The community has traditionally been resource based, heavily reliant on the forest sector. The downturn in the industry and shutdown of local operations for major forestry licensees has had a significant impact on the community’s residential and commercial tax base. The community needed to address declining economic activity and needed a roadmap to help guide its transformation from a resource based community to a diversified, vibrant growing economy.
The community retained experienced consultants to work with the village, its stakeholders, community organizations and businesses to develop a professional strategy aimed at identifying strategic employment and investment opportunities. The process included economic analysis, identification of key high value opportunities and a framework to guide future business and investment attraction.
Early post completion results indicate that the strategy development is having a positive impact on the community. The professional economic assessment and materials have already been used to work with new investors to the community on developments which will have significant employment and tourism impacts for the small community. In addition, community led economic initiatives are being planned which also have the potential to spark important economic growth.