The Rocky Mountain Outlook put a number of questions to hopefuls running for a seat in the Oct. 16 municipal election.
This week’s question is: The terms economic diversification and economic development are often used interchangeably when it comes to planning for Canmore’s future. How should council strategically focus on diversification and/or development? How could elected officials support a strong local economy?
I believe economic diversification, or economic development for Canmore’s future will only be made possible by having some form of sustainability with business, tourism, residential, and commercial properties. Growth will happen whether we like it or not. Our responsibility is to make sure it happens with a positive and effective outcome.
We are primarily a tourist and recreation destination. The new manufacturing in town is craft brewers, which I can support.
Economic development requires a long-term strategy. I believe the Town of Canmore needs to consult with local organizations like the Chamber of Commerce, the Downtown Business Association and others to see what will work. I think that serious consideration should be given to making this a Town of Canmore position to facilitate opportunities and tackle challenges. This is a complex and broad brief which will take time and innovation to advance.
In this week’s RMO Mountain Town News there’s a short piece from Ketchum/Sun Valley, Idaho, a place I lived for many years growing up. “It’s all connected isn’t it? The economy, the jobs, the housing.” Sun Valley’s director of economic development blames the slow growth (one per cent) on lack of employees. Canmore already has a problem with businesses having to shut down or reduce hours because of lack of employees. While I do not feel it is the responsibility of the Town and its citizens to subsidize these businesses via cheaper housing, we can and should look closely at our current planning and bylaws to determine how much our existing rules and regulations are obstacles to the development of affordable employee housing.
It is important, however, that all and any housing initiatives undertaken by the Town are not co-opted by the development and real estate industries.
One of the biggest obstacles of this diversification concept is our lack of developable land. Light industry would be fantastic. It provides jobs and a tax base, but we should never grow for the sake of growing. We should accept the fact that Canmore can only accommodate so much of anything. We need to establish exactly what land we have for any kind of development. Even if we promote remote business, businesses that are online based, those people still need a house to work from.
The town of Canmore, I feel, should be advertising our beautiful town as a work and play destination, not just a weekend getaway. Other ways we can diversify is by thinking bigger. For example: creating a small college in town would be great. There are so many talented people in this town. Athletes, personal trainers, healers, entrepreneurs and chefs. Perhaps we could have a culinary school?
Elected officials could support a strong local economy by being open minded to new opportunities for economic diversification. We need to build on our strengths, such as tourism, while encouraging the growth of existing businesses and attracting new businesses that align with our values as a community.
I am inspired by the work of our Bow Valley Chamber of Commerce. The chamber offers excellent support for entrepreneurs and small businesses through education, sharing of best practices, engagement and incentives. I believe supporting entrepreneurs and encouraging innovative partnerships supports diversifying our local economy. It is part of the work of council.
Diversification and development are two very different concepts. Building more hotels, for example, might be considered economic development, but it’s hardly diversification. Canmore is generally a reasonably prosperous community in high season and what we should probably focus on is the eight months of the year where tourism is a low draw and try to build a set of industries/events/draws focusing on the colder months. Events at the Canmore Nordic Centre could be used to attract visitors for the winter months. We might find, with effort, that a natural evolution will take place if we create incentives and the dynamics to re-think the way we do things. Supporting a strong local economy in part involves destination marketing, and, in part, some creativity.
The Bow Valley is an economic juggernaut that any province in Canada would dream of having supporting its economy. We talk about economic development when what we need is housing and labour development. Tourism is our business, and it is up to us to make what we already have work for everyone in our community.
Council needs to work with administration and community to find new ways to diversify our economic base. Tourism, health and wellness, technology, small business, education – what do we need to do to support this growth? Council needs to support special events that encourage a strong local economy.
In the 2017 budget, I voted in favour of investing money from the Economic Development Reserve to provide funding for a Broadband Master Plan. This plan will investigate the feasibility and cost of delivering broadband services to the greater community and what demands as well as barriers will exist in its delivery should council choose to deliver. Faster Internet is a roadblock for bringing knowledge sector and other technology-based jobs to Canmore. If broadband in Canmore is feasible, it has the potential to do even more in support of diversification as well as smart development. In the 2018 Business Plan, investigating the hiring of an Economic Development Officer, either in-house or contract, is to be investigated. This position will be required to not only support diversification, but to seek out the tech sector business and jobs that are associated and be the gateway for businesses looking to potentially invest in Canmore.
The Town of Canmore has planned a budget to hire an economic development officer in 2018 now that Canmore Business and Tourism (CBT) is defunct. The right type of business may find Canmore attractive, and the economic development officer will be involved in facilitating the appropriate business to move here for the attractive community and mountain lifestyle. Business has to thrive in an environment conducive to financial success. Alberta has low corporate tax rates and no sales tax. This is attractive to business. High rent and land costs are a challenge for startups.
Canmore has three sectors that are performing well. Tourism drives opportunities and provides a solid base for other industry to thrive. Bow Valley Builders and Developers (BOWDA), provides strong leadership to our building sector that continues to perform well, even during economic downturns. Health and wellness is also a very diverse and thriving Canmore business sector. Broadband is needed to develop and enhance other opportunities. Canmore is a diverse intelligent community that would thrive with broadband services. The new Bow Valley Chamber of Commerce plans to move forward with an initial feasibility study focusing on municipal economic diversification. The business revitalization zone (Downtown Business Association) is another strong business group along with Rocky Mountain Ventures. An in-house economic development officer is necessary to navigate and direct economic opportunities.
When the mines closed in 1979, tourism was identified by the community and council as the preferred future for economic development. Almost 40 years later, a strong tourism sector is our primary industry, generating approximately $350 million annually. This is perhaps the primary reason that we have so many wonderful restaurants, cafés, shops and galleries – which benefit residents as well as our visitors. However, as with all industries, there is a downside to tourism – which manifests primarily through lower wages and issues of affordability for many residents, and a growing congestion within town. We have known for many years that there are other sectors of employment here – for example, within the health and wellness, knowledge-based, and arts sectors. I have been actively working to support the potential within those other sectors as a goal of the growing economic diversification initiatives, which will add to our future resiliency as a community.
We need to create the capacity for industry that pays liveable wages to come here. High speed internet is touted as a solution, and the issue of land to support whatever industry wants to come here. Elected officials need to be open to any and all solutions that pass scrutiny to be a viable asset to the community.
