Through Budget 2023, Alberta’s government is more than doubling its support for the nine regional economic development alliances (REDAs) in the province. Through this $1.125-million commitment, each REDA can rely on stable $125,000 funding to increase their efforts to support economic growth and diversification throughout Alberta.
“Nobody knows their local economy better than REDAs, which bring awareness of provincial and municipal initiatives. Each area has its own specific needs and goals, and this additional support will increase their ability to develop local solutions to economic needs while supporting the improvements that their region needs.”
REDAs are independent, non-profit organizations made up of member municipalities and regional stakeholders that work together to promote long-term economic development and prosperity. The additional funding will support their work to develop tailored and targeted solutions to their area’s economic requirements. These may take the form of investment attraction, industry diversification, labour attraction and retention, and strategic economic development planning.
“Providing rural communities with the support they need to overcome economic barriers and reach their full potential is a priority for Alberta’s government. Increasing funding for REDAs means municipal leaders and local businesses will have a greater capacity to attract investment, grow our rural economy and solve local challenges.”
The additional funding to REDAs supports actions under the Economic Development in Rural Alberta Plan, including building capacity for rural economic development interconnectivity at the regional level. For example, the Palliser Economic Partnership REDA in southeastern Alberta has supported the development of investment-ready agricultural projects. The Central Alberta Economic Partnership REDA has commissioned a workforce development strategy to strengthen the economy in central Alberta.
“Central Alberta municipalities are very excited to receive this much-needed increase in funding. Often smaller communities in rural Alberta lack the resources to support economic attractions and growth. These funds will help to grow economic development in a sustainable manner and further support our region.”
“We are very pleased that the Government of Alberta is supporting the regional economic development alliances in rural Alberta. By working closely with the Government of Alberta, we can address the barriers facing economic development in rural Alberta and enhance our regions for increased investment. We look forward to highlighting our rural municipalities, First Nations and Metis Settlements as excellent places to invest and grow our economy.”
“Being from the most northern community in Alberta and longtime chair of the REDA here, I have experienced first-hand the important role these associations play within their communities. The REDAs are in tune with their communities and able to respond to the diversity that makes up this province. I truly believe that REDAs play a key role in the viability of rural communities and are the backbone of their economic development.”
Budget 2023 secures Alberta’s future by transforming the health-care system to meet people’s needs, supporting Albertans with the high cost of living, keeping our communities safe and driving the economy with more jobs, quality education and continued diversification.
- The $1.125 million to REDAs in Budget 2023 represents an increase of $675,000 from previous years, when they received a total of $450,000 per year.
- There are nine REDAs located across Alberta:
- Alberta Southwest Regional Alliance
- Includes communities in southwestern Alberta such as Crowsnest Pass, Cardston, Fort Macleod, Pincher Creek and Nanton
- Battle River Alliance for Economic Development
- Includes communities in east-central Alberta such as Hardisty, Camrose, Tofield, Wainwright and Provost
- Central Alberta Economic Partnership
- Includes communities in central Alberta such as Red Deer, Wetaskwin, Lacombe, Sundre and Rocky Mountain House
- Grizzly Regional Economic Alliance Society
- Includes communities in north-central Alberta such as Barrhead County, Westlock, Mayerthorpe, Clyde and Wabamun
- Northeast Alberta Information Hub
- Includes communities in northeastern Alberta such as Vegreville, Lloydminster, Bonnyville, Cold Lake and Lamont
- Palliser Economic Partnership
- Includes communities in southeastern Alberta such as Medicine Hat, Hanna, Oyen, Redcliff and Consort
- Peace Region Economic Development Alliance
- Includes communities in northwestern Alberta such as Peace River, Grande Prairie County, Fairview, Valleyview and Sexsmith
- Regional Economic Development Initiative for Northwest Alberta
- Includes communities in northwestern Alberta such as High Level, La Crete, Fort Vermilion, Mackenzie County and Paddle Prairie Metis Settlement
- SouthGrow Regional Initiative
- Includes communities in south-central Alberta such as Lethbridge County, Cardston, Blood Tribe, Claresholm, Vulcan and Taber
- Alberta Southwest Regional Alliance