City of Red Deer and Red Deer County are tapping $100,000 in provincial funding to identify joint economic development targets.
The money through the Northern and Regional Economic Development Program (NRED) will be used by the municipalities to identify land suitable for development in partnership.
“Using this grant funding, the city and county can capitalize on their location within the QE2 corridor and jointly prove large tracts of land, labour force, complimentary industries and the urban infrastructure needed to attract these types of investments,” says the city and county in a Thursday news release.
The initiative fits in with the goals outlined in the municipalities’ Intermunicipal Development Plan, which aims to co-ordinate the provision of infrastructure and services to attract new businesses and residents while being “innovative and future-ready.”
Mayor Ken Johnston said the funding “allows us to undertake work that fosters prosperity and growth that brings many benefits to the region, creating a high quality of life to our regional citizens.”
Red Deer County Mayor Jim Wood said working together allows the municipalities to build up the region as a whole and maximize opportunities.
“With the benefit of the NRED funding an a strong partnership approach, we are sending the message that central Alberta is investment-ready.”
The joint approach to economic development aligns with the goals laid out in both communities strategic plans to promote growth.
NRED is offered through the Alberta Ministry of Jobs, Economy and Trade and funds initiatives by municipalities, Indigenous communities and non-profit organizations that promote economic development and diversification.
