A new Ad Hoc Economic Development Committee may be established, if approved by City Council on Monday. The proposed committee would focus on a new model for economic development in Red Deer.
The formation of this committee comes after City Council adopted Red Deer 2050 in June 2024. One of the core pillars of this vision is prosperity, with the goal to create a thriving, diverse, and innovative business environment that positions Red Deer for sustained regional, national, and global growth.
The idea for the committee stems from some intensive focus group discussions, which occurred as part of the Red Deer 2050 planning process. Representatives from Red Deer’s Chamber of Commerce and Red Deer Polytechnic were part of this group, ultimately identifying that community leaders are critical to Red Deer’s economic success and coordinated action is needed for Red Deer to grow and develop.
“No organization can do it alone. We have extraordinary economic development partners in our community – partners who invest in and care about economic development in Red Deer, and we must work together to be successful” said Mike Olesen, Growth and Finance General Manager. “This committee is about taking a collective approach that brings Red Deer leaders and partners around the table to explore a new approach to economic development. Red Deer’s model has not been formally reviewed in several years, and through this committee, we have an opportunity to unify and strengthen the city’s economic efforts towards building a more prosperous and competitive city.”
If approved, the committee will bring together diverse partners from across the community. The committee will include fewer than ten members to facilitate efficient progress within the established timeframe. The committee will gather input and ensure its recommendations reflect the needs and aspirations of the entire Red Deer community. It will focus on recommending a path forward and overall model to achieve the future vision for economic development in Red Deer. This would include a report that outlines a methodology, learning and recommendations.
If the committee is established, Council will receive the committee’s recommendations in April 2025, with decisions on how to proceed expected by June 30, 2025. Recruitment for the committee would begin immediately following Council’s resolution, with the goal of finalizing membership by November 2024.