Economic Development Transition

ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENT

TRANSITION TRANSITION

A major shift within the CSRD took place in 2020 with the formation of the A major shift within the CSRD took place in 2020 with the formation of the non-profit Shuswap Economic Development Society to deliver economic non-profit Shuswap Economic Development Society to deliver economic development services to Electoral Areas C, D and F. Electoral Area E opted development services to Electoral Areas C, D and F. Electoral Area E opted out of this change in service. Previously, Shuswap Economic Development had out of this change in service. Previously, Shuswap Economic Development had been administered and operated within the CSRD in conjunction with Shuswap been administered and operated within the CSRD in conjunction with Shuswap Tourism. Tourism. The society’s economic development services will address such matters as The society’s economic development services will address such matters as business attraction, retention and expansion. Services will be designed to business attraction, retention and expansion. Services will be designed to encourage job creation, create a sustainable and diverse industrial, commercial encourage job creation, create a sustainable and diverse industrial, commercial and agricultural tax base and promote a strong economic future for the and agricultural tax base and promote a strong economic future for the communities involved. The Directors who supported the creation of this new communities involved. The Directors who supported the creation of this new society felt greater value could be achieved for the equivalent funds, and that a society felt greater value could be achieved for the equivalent funds, and that a full-time Economic Development Manager was needed. full-time Economic Development Manager was needed. Transferring this service from the CSRD to a non-profit society is not expected to Transferring this service from the CSRD to a non-profit society is not expected to have a significant impact on annual taxation, as funding amounts are based on have a significant impact on annual taxation, as funding amounts are based on the most recent budget. Taxpayer funding for the service will come from Electoral the most recent budget. Taxpayer funding for the service will come from Electoral Areas C, D, and F. Approval of the CSRD’s service agreement with the new Areas C, D, and F. Approval of the CSRD’s service agreement with the new society will remain under the direction of the CSRD Board. society will remain under the direction of the CSRD Board. An expression of interest was issued for Board Directors of the new society, An expression of interest was issued for Board Directors of the new society, and 12 Directors, who represent a wide variety of personal and professional and 12 Directors, who represent a wide variety of personal and professional backgrounds, were appointed to staggered terms of between one-to-three years backgrounds, were appointed to staggered terms of between one-to-three years to provide stability and continuity to the organization. The new society took over to provide stability and continuity to the organization. The new society took over the provision of economic development services for the three Electoral Areas in the provision of economic development services for the three Electoral Areas in 2021. 2021.