Ontario government invests in local economic development turnaround

Archived Release

Ontario government invests in local economic development turnaround

$250,000 In Funding Supports Regional Investment Attraction TORONTO, Feb. 8 - Minister of Economic Development and Trade Sandra Pupatello today announced a new partnership with the Economic Developers Council of Ontario (EDCO) that will help communities respond to restructuring in the global economy. "We want to support local economic development professionals as they respond to the challenges faced in their communities," said Pupatello. "This partnership will provide valuable information to help us better seize opportunities for new jobs and investment." Speaking at EDCO's 50th Annual Conference, Minister Pupatello announced funding of $250,000 to implement the "Local Economies in Transition" project. Under the initiative, EDCO and the ministry will work with site selectors to conduct in-depth studies identifying the investment challenges and opportunities of six Ontario regions. This research will be leveraged in a series of Regional Economic Forums, culminating in a Leadership Summit in the Fall of 2007. A final report will provide local economic development professionals with valuable information to help re-position their communities to meet the challenges of globalization. "EDCO's members play a major role in building strong communities where small businesses can flourish," said Harinder S. Takhar, Minister of Small Business and Entrepreneurship. "This partnership supports our strategy for jobs and prosperity - promoting Ontario internationally while building a competitive, innovative economy at home." EDCO is an independent, non-profit, organization dedicated to promoting economic growth in Ontario's municipalities. Its membership includes municipal, business and economic development professionals, land developers, industrial and commercial realtors and tourism industry representatives. "To maximize our effectiveness as economic development professionals, we need to truly understand the site selectors' perspective of the communities we serve," said Patti Watson, EDCO's 2007 President. "Armed with these insights from the Regional Economic Forums, our members will be better able to influence investment decisions in Ontario's favour," added George Borovilos EDCO's Immediate Past President. Disponible en français www.ontariocanada.com Contact Info For further information: Valerie Poulin, Minister's Office, (416) 325-6907; Neil Trotter, Communications and Public Affairs Branch, (416) 325-6716 HELP | CONTACT US | PRIVACY | IMPORTANT NOTICES © Queen's Printer for Ontario, 2008-2009 — Last Modified: February 15, 2009 For further information: Valerie Poulin, Minister's Office, (416) 325-6907; Neil Trotter, Communications and Public Affairs Branch, (416) 325-6716