City of Vernon to consider spending $50k on new economic development strategy - Castanet.net

Photo: Castanet file

Vernon council will consider spending $50,000 to develop a new economic development strategy, Monday.

City administration is looking to hire a consultant to develop a new multi-year economic development strategy. Staff say a new strategy would identify four to six focus areas that aim to retain and attract investment, businesses, and residents to Vernon.

If approved, the new strategy is expected to take six to eight months with a request for proposal to hire a consultant kicking off the process in August.

The strategy comes from the city’s Economic Development and Tourism department, established in January 2009. Vernon’s first economic development strategy was adopted by council in 2020.

An update was completed in 2013, and staff say many conditions used for the basis of the original 2010 strategy have substantially changed over the last 14 years. Conditions includ, the city’s population growth, economic conditions changing, recent changes to zoning bylaws, and the city updating its Official Community Plan.

A new economic strategy would consider questions like:

• Are the current program and service offerings meeting the needs of Vernon entrepreneurs and businesses?
• What is the City's Economic Development and Partnerships department's role in the delivery of economic development program and services?
• As Vernon grows, should there be more advocacy to regional, provincial and national economic development organizations to establish a local presence in
• Vernon to deliver their programs and services?
• The process is estimated to cost between $40,000 and $50,000, if approved by council.

The process is estimated to cost between $40,000 and $50,000, if approved by council.

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City of Vernon to consider spending $50k on new economic development strategy - Castanet.net
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