More than 700 businesses contributed to economic development strategy
A central Alberta economic development partnership has released a regional strategy that will be kicked off by an October conference.
Central Alberta First Partnership (CAFP) includes representatives from Red Deer, Olds, Innisfail, Penhold, and Red Deer, Kneehill and Mountain View counties along with other community organizations and groups.
It has embarked on a Business Retention, Expansion and Workforce Development (BREWD) project that has just released its strategy for creating a thriving business environment that supports existing enterprises while attracting investment and talent. It is backed by a series of Community Data Summary Reports that provide a data snapshot and comparison with regional trends.
“These reports identify key opportunities, challenges, and priorities, providing communities with the knowledge they need to make informed, evidence-based decisions to support their local businesses,” says CAFP in a Tuesday news release.
The BREWD initiative is billed as one of the largest business engagement projects ever undertaken in the region and involved gathering input from 700 businesses from all economic sectors which answered nearly 90 questions to create the regional strategy. As well, 41 in-person interviews were conducted with key employers and 101 targeted surveys done with job seekers.
The first initiative coming out of that strategy is the AI for Business: Tools, Tactics, Transformation Conference, which will be held Oct. 22 at Olds College Alumni Centre.
“This one-day event will bring together industry leaders, innovators, and technology experts to explore practical applications of artificial intelligence that can improve processes, reduce costs, and increase competitiveness for businesses of all sizes,” says CAF.
The regional strategy is built around eight themes. The Human Capital pillar is focuses on attracting skilled workers from outside then region by focusing on area opportunities as well as boosting the skills of the existing workforce to meet market demands.
An innovation pillar aims to accelerate technological advancements and commercialization to create business opportunities. A Financial Capacity pillar will look at increasing access to financing for local businesses.
Other pillars focus on improving the business climate and marketing, and ensuring infrastructure and resources meet needs, and the region’s quality of life is promoted.
“This is more than a strategy, it’s a roadmap created by and for the businesses of Central Alberta,” says CAF. “The AI for Business Conference is just the beginning. Every project identified through BREWD responds directly to the challenges and opportunities that our business community told us matter most.”
More projects will be rolled out in coming months. For more information go to centralalbertafirst.ca.
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