Project Title:

Ladysmith Investment Attraction Tools

Project Organization:

Economic Development Cowichan

Project Investment:

  • Island Coastal Economic Trust: $27,500
  • Town of Ladysmith: $10,000
  • Digital Skills For Youth Program: $10,000
  • Stz'uminus First Nations: $500
  • Nanaimo Airport: $2,500
  • Economic Development Cowichan: $4,000
  • Ladysmith Downtown Business Association: $500
  • Total Budget: $55,000

In 2017, with ICET support, a broad set of local stakeholders in the Town of Ladysmith collaborated on a unified economic development strategy. The partnership included the Town of Ladysmith, Economic Development Cowichan, Stz’uminus First Nation, the Nanaimo Airport, the Ladysmith Chamber of Commerce, the Ladysmith Downtown Business Association, and Community Futures Central Island. Following the strategy, the second phase of the partnership will create a partnered investment profile to promote Ladysmith as a location to visit and invest.

The project will deliver a robust website and community profile for Ladysmith. The website will include a database of investment opportunities, along with labor force indicators and other resources to support investor decision-making. An accompanying mobile app will be developed, enabling users to access the database remotely and receive on-the-spot information about investment opportunities. The app will also provide an array of cultural insights related to the First Nations and industrial heritage of Ladysmith.

Anticipated outcomes will include increased investment in local business opportunities in Ladysmith and the surrounding area; increased awareness of business investment and succession options; and increased collaboration between local economic development stakeholders.

Island Coastal Economic Trust approved funding for this project in 2018 through the Investment Readiness program.