Funding to spur growth in the Leduc region
The province is helping the Leduc region create jobs and diversify its economy through the Community and Regional Economic Support (CARES) program.
Two projects led by the Leduc-Nisku Economic Development Association (EDA) will benefit from $360,500 in funding through the first CARES intake.
The money will support regional business retention and expansion, and explore the development of four key areas around the Edmonton International Airport and the City of Leduc.
Municipal Affairs Minister Shaye Anderson made the announcement today on behalf of Economic Development and Trade Minister Deron Bilous.
“So much of Alberta’s economic strength and entrepreneurial drive is centered in our province’s smaller cities and towns. Every region in Alberta brings multiple strengths to our way of life, whether in energy, agriculture, forestry, mining, tourism or other areas. This funding will help communities with common interests tackle economic development projects that they might not have been able to individually. Through these projects, local leaders are working together to grow and diversify our economy and make life better for Alberta families.”
The Leduc Nisku-EDA will receive $73,000 for its Regional Business Retention and Development Program. The initiative will create a single database for business information as well as the establishment of an industrial business consortium to identify areas of expertise, opportunities for collaboration, and best practices for businesses looking to diversify their products, services and markets.
In addition $287,500 will be provided to support Leduc-Nisku EDA’s Alberta Aerotropolis project. In partnership with the City of Leduc and Leduc County, the project will include implementation of a land-use strategy that will focus on economic development around the Edmonton International Airport that will drive significant job creation in the region.
Over 25 years, the Alberta Aerotropolis project has the potential to generate an estimated 62,000 new jobs in the Edmonton metropolitan area, with 35,000 of those directly in the Leduc area.
“The Leduc region is a key economic engine in our province. This funding is good news for everyone who lives and works here and this is good news for Alberta. I’m proud of all the forward-thinking and collaborative initiatives in our communities and how our government is supporting these local projects as part of our work to improve the lives of Albertans by diversifying the economy and creating jobs.”
“With the support of the province through the CARES grant, we look forward to further leveraging the Leduc region and its connectivity to the Edmonton International Airport to generate new economic activity, further diversify the economy and bring more than 60,000 jobs to the Edmonton metropolitan region. As a region, we will continue to work together to fully realize the benefits of the Aerotropolis project as a key economic development initiative.”
“The Aerotropolis project builds upon the existing development centered on and around the Edmonton International Airport and will establish and enhance economic clusters in education, ICT, life sciences, agri-business, logistics & distribution, aerospace & aviation, advanced manufacturing and energy. Four priority projects are underway with a combined acreage of 2,200 hectares and 23.7 million square feet of developable space. The economic benefit would be derived over 25 years, adding $67 million in annual non-residential taxes to our communities and would add $6.7 billion in annual GDP to the province.”
“The Leduc-Nisku region is a key economic driver with a strong entrepreneurial spirit. We are encouraged by the recognition and support given by the Alberta government for projects that will help our communities grow and diversify our economy. The support through the CARES program will enhance our capacity to undertake two extremely important projects to position the region for new investment and business support required to grow and diversify our economy.”
Following the first CARES application intake in 2016, the program evaluated 88 applications from regions and communities, representing approximately $10.5 million in requested grants. These projects are among many throughout the province receiving support through the first intake of the CARES program.
The second intake for the CARES program is now open and runs until May 31, 2017. Eligibility criteria and more information on how to apply are available at jobsplan.alberta.ca