The City of Red Deer has reconsidered pulling out of a regional economic partnership, deciding that what’s good for the area is usually also good for the city.
On Monday, city council unanimously voted to remain a member of the Central Alberta Economic Partnership. CAEP represents 37 communities and advances sustainable regional economic development through knowledge and resource-sharing.
Councillors saw value in regional collaboration and being part of project initiatives with the province, such as CAEP’s business retention programs and an investment attraction matrix.
Several councillors referred to a recent three-hour talk with CAEP representatives that addressed mutual concerns and resolved that it was better to co-operate for the good of Red Deer and the region.
“This speaks to regional collaboration,” a sharing of knowledge and resources:” It’s a win-win,” said Coun. Dianne Wyntjes.
Coun. Lawrence Lee initially brought a proposal forward to pull out of CAEP because a local review committee didn’t see the point of contributing a $50,000 annual membership. Lee said he reconsidered after a discussion of how the city and CAEP could better work together. It made him realize “we’re getting value for our money.”
Mayor Tara Veer said some concerns existed that CAEP was often competing with Red Deer for business, but the discussion formulated the idea that many business opportunities within the area of 400,000 people are also good for Red Deer.
The city resolved to boost its own economic development efforts, as well as working in partnership with CAEP.
City council made a three-year funding commitment to CAEP based on a rising member-per-capita rate, which means the group will receive about $49,000 in 2019, $54,000 in 2020 and $59,000 in 2021.
As well, the city is looking for a representative from the local business community who will sit on the CAEP board, along with a city councillor and regional representatives. This will give the city additional influence on the regional board.