OLDS – On Friday, June 14, representatives of the town of Olds and the federal government’s Community Futures Alberta reannounced a program aimed at supporting and spurring business growth in Olds and Area.
In a tent just outside the town office, the Next Generation Economy Initiative (NGEI) project was expounded upon by representatives of various entities involved with it.
The program has been announced at least twice before within the last three months.
Olds manager of economic development Sandra Blyth said the NGEI is supported by the town, Community Futures Central Alberta, Mountain View County, the Olds College of Agriculture & Technology and “a host of other regional and provincial partners.”
Their purpose is to work with existing business owners and start-ups, including accessing training and financing via Community Futures Central Alberta.
“It’s that hands-on business service that has been a bit missing in our community,” she said.
Community Futures Alberta chair Russell Crook told the Albertan that it’s footing $300,000 of the cost.
Community Futures Central Alberta general manager Kelly Kierluk said the organization has more than 30 years’ experience helping to diversify the rural Canadian economy.
“By helping create a more diversified and sustainable local economy, we know that the success of the NGEI will breed more success,” she said.
Blyth said as a result of the partnerships, two people -- business development advisor Michelle McFadden and digital service specialist Anne Serrano -- have been funded for the next two years and will work out of the town office.
Blyth said $60,000 in her budget was used to obtain provincial funding as well as partnerships that will be announced in the fall.
Blyth said the NGEI is a three-year plan to grow industry and business that will be conducted across the region.
She said one aspect, called Business Retention Expansion and Workforce Development, (BREWD) announced earlier, will be to research and analyze local business and industry and determine roadblocks to expansion.
During an interview with the Albertan, it was noted that Blyth announced much the same goals a year or two during an appearance before town council. She was asked why that’s being announced again.
“Oh, this takes a long time,” she said. “This isn’t something that just happens through a couple of meetings, right?”
She said that effort requires determining what the industry clusters that operate in the area and understanding the growth phases they’re in.
“I know who our major manufacturers are and we’ve started to map that stuff with them, but not on the scale that we need to get to,” Blyth said.
Blyth said the first sector that will be explored is the agriculture industry, as it’s the leading sector in the area.
“Right now I have a list of over 30 major agriculture producers in this region that we’re going to be sitting down with to talk about this,” she said.
“All this takes time,” Blyth added. “Everybody thinks, ‘oh, to grow the economy you just go and talk to local business and they’re just going to show up.
“Well, no. Economic growth requires – yes – talking to local business, ‘tell us what’s wrong with this environment,’ but then, it’s talking to those driving industries and getting in deep with them to understand what their challenges are.”
She said this is the first of many such efforts that will be coming.
Mayor Judy Dahl was excited by the June 14 announcement.
“I’ll tell you what, this is going to be the gateway to the future,” she said.
“To be able to have all partners meet at the same table, it’s our future. It’s going to become our very fast-traveling DNA in my opinion.
“When you get everybody at the table and everybody hears that same thing at the same time, it can only go one place, and that’s straight to partnerships.”
