Business Visitation
The Municipal District of Bonnyville started an ongoing business visitation program beginning in the Spring of 2023.
The purpose of a business visit is to allow the M.D. Economic Development Specialist to meet with, and get to know, local business operators and their businesses. The business visit is a crucial component of a business retention, expansion, and attraction (BREA) program and helps identify any hurdles, challenges, or opportunities facing local businesses while helping address those issues.
The BREA program can assist with retaining or increasing local jobs, preserving or increasing the local tax base, increasing local property values, enhancing the image and confidence level of the M.D. business community as a place to invest, and maintain or diversify the economic base.
Information gathered during a business visit can provide the data and market intelligence that helps our community in its efforts to attract new companies and foster the creation of new businesses. It can also provide business data from the local economy that can help with supply chain issues and lead generation to connect M.D. businesses with bidding opportunities.
Business visits yield information to increase competitiveness in the wider marketplace by identifying import and export activities and working with agencies such as Invest Alberta and Invest in Canada. Visits also help support business operators with site selection and pathfinding for project specific planning and permitting, grants, and investor connections.
Investment Attraction Action Plan, Investing In Our Future
The Business and Industry Growth Strategy (BIGS) identifies the Investment Attraction Strategy as one of its foundational activities.
The purpose of the investment attraction action plan is to provide the analysis, strategy, and tools required to attract desired and complementary investment to the M.D. of Bonnyville. This is based on information identified in the 2020 Regional Economic Development Plan: Technical Report. The following sectors have been identified as the focus of the investment attraction action plan: energy, proteins and agriculture technology, tourism and quality of place, renewable technologies, and Canadian Armed Forces procurement.
The goal of the investment attraction action plan is increased investment, a stronger tax base, increased employment opportunities, and the development of clusters and value chains which will diversify and strengthen the local economy.
The strategy will ask the following questions – where are we now, where do we want to be, and how do we get there?
The action plan will:
1. Identify the community’s competitive advantage.
2. Undertake a gap analysis.
3. Analyze and develop a target industry list.
4. Identify future investment ready sites.
5. Identify investment attraction objectives.
6. Identify potential policies and procedures that
7.
support investment attraction.
8. Determine investment attraction tactics.
9. Implement, monitor, evaluate, and adjust.
“Building a viable and diversified regional economy” is the first goal of the M.D. of Bonnyville Council’s 2022-2027 Strategic Plan.
Business Supports Part 2
Do you know what programs and services are offered for businesses in our region? There are so many, we’ve had to break the list into two parts.
Below you will find websites and descriptions of the programs and services offered by our partners. This includes workshops, seminars, and events – both in-person and online – that support local businesses.
Farm Credit Canada (FCC)
FCC builds strong relationships and shares knowledge and expertise with thousands of customers across the country. When you succeed, they succeed. They are here to support entrepreneurs and believe in the future of agriculture and food. They are a partner, a catalyst, and a champion of the agriculture industry as the only lender 100% invested in Canadian agriculture. They help clients dream, grow, thrive, and support the success of the industry.
FCC lends money and provides other services to agribusinesses who provide input or add value to agriculture. If your business is looking to grow or expand, they want to help you find new opportunities through their networks and financing expertise. They have a portfolio that tops $44 billion, and over 100,000 customers.
FCC provides the following types of financing: real property, equipment and inventory, expansion and construction, start up, diversification, stretch debt and cash flow requirements, mergers and acquisitions, syndicated lending, and venture capital.
Agribusiness Financing
Sustainable Canadian Agricultural Partnership Programs
There are several programs for value-added/bio industrial producers, efficient grain handling, emerging opportunities, farm technology, and on-farm/value-added that are offered to Alberta ranchers, producers, processors, farmers, and organizations through sustainable CAP funding. Here are a few.
The Sustainable Canadian Agricultural Partnership Value-Added Program supports the diversification and growth of Alberta’s value-added food and bio-industrial processors through investment in projects that increase company sales and production capacity, expand market opportunities, and create jobs in Alberta.
The Efficient Grain Handling Program assists primary producers with reducing the overall energy use on their farms. The program supports the purchase of grain handling system components that significantly improve energy efficiency over standard practices.
The Emerging Opportunities Grant Program supports the Government of Alberta’s strategic objectives related to growth and development of Alberta’s value-added agriculture sector. The program supports projects that focus on innovation and result in significant company growth and sector impact. Projects can include new technologies, best new practices, significant capacity expansions, and new builds.
The Farm Technology Program supports the adoption of innovative technology that minimizes agricultural waste, optimizes farm efficiency, and encourages the adoption of best management practices in farm security. The program will enable primary producers to better anticipate and manage risks, while reducing environmental impacts and protecting their farm.
The On-Farm Value-Added Grant Program supports primary producers in adding value to their agricultural products to grow sales, expand production capacity, explore market opportunities, and create jobs in Alberta.
Sustainable CAP Programs
Agri-processing Investment Tax Credit (APITC)
The APITC provides a 12% non-refundable tax credit against eligible capital expenditures for corporations investing $10 million (or more) to build or expand agri-processing facilities in Alberta.
Alberta Agri-processing Investment Tax Credit
Alberta Jobs, Economy, and Innovation
Resources are available for Alberta communities and regions to support efforts to diversify and grow their economies, attract investment, and maintain a positive and competitive business
Regional Economic Development Specialists (REDS) have local knowledge of the economic opportunities and challenges facing Alberta’s regions. This allows them to provide economic development practitioners and business service providers with targeted advice and support.
Through one-on-one consultation, regional and community meetings, webinars, and collaborative roundtable discussions, REDS offer the following core services: advisory services, outcome-based planning, economic information and best practices, pathfinding support, and tools and resources.
Regional Economic Development Resources
Cold Lake Regional Chamber of Commerce
The Cold Lake Regional Chamber of Commerce is an advocacy agency first and works to grow strong relationships with all levels of government to strengthen the voice of local business owners.
The Chamber believes a strong local economy starts with a well-connected business community. Members have access to exclusive workshops, webinars, programs, and seminars. Events are affordable and useful. Learn more about social media, SEO, video marketing, and countless other start-up focused topics.
The Chamber offers businesses access to Canada’s number one group benefit plans for business. The Chamber of Commerce Group Insurance Plan, administered through BPGS, protects you and your team and gives your business a competitive edge when looking to hire the best people.
Cold Lake Regional Chamber of Commerce
Travel Alberta
Travel Alberta supports the tourism sector via the Travel Alberta Industry Hub, providing operators with information regarding programs and tools, training and events, visitor and marketing insight, and news and media.
The Alberta Tourism Information Service (ATIS) is a free digital marketing platform designed by Travel Alberta to help your Alberta tourism business by amplifying your marketing efforts. Add your content to be shared across multiple marketing channels as a destination of choice for visitors around the world.
Travel Alberta’s Learning Portal is a resource that connects tourism businesses with insights, expertise, and best practices such as a brand tool kit and research and business solutions to help guide marketing and business activities.
Travel Alberta supports tourism development through the Sign-Up Alberta program, the Export Ready Checklist, and the Product Development and Cooperative Investment Fund.
Travel Alberta supports operators by providing Visitor Profiles that identify visitor origin, length of stay, trip purpose, accommodation, and spending in Alberta.
Industry Home | Travel Alberta
Futurpreneur
Futurpreneur has been fueling the entrepreneurial passions of Canada’s young entrepreneurs for 25 years. They are the only national, non-profit organization that provides financing, mentoring, and support tools to aspiring business owners between the ages of 18-39.
Futurpreneur and RBC Future Launch present Rock My Business, a free, virtual, three-part workshop series that will help you develop your idea, get started on your business plan, and create a viable cashflow for your business. You could win $10,000 to help launch your start-up!
Futurpreneur and SpinMaster present the Growth Accelerator, an existing opportunity for entrepreneurs in business 18 months to 3.5 years to create an updated business strategy helping them pivot and grow their businesses. The workshop will culminate in a pitch competition with a cash award of $10,000 to the entrepreneur that best articulates their vision for growth.
Home - Futurpreneur Canada
Canadian Small Business Still on the Rise in May 2023
Alberta Small Business Confidence Index has risen by 2.3% over the past 12 months.
Alberta Small Business Confidence Index has risen by 3.3% over the past 3 months.
Canada’s Small Business Index has risen seven consecutive months and is at its highest level in almost a year.
Read the full Monthly Business Barometer at Monthly Business Barometer ®
Free Business Registry Program Draw Prize Winner
Congratulations to DD Contracting and Construction Ltd., the winner of the $250 M.D. of Bonnyville business registry draw prize.The M.D. of Bonnyville business registry program enhances your online presence, creates a shop local business to business platform, encourages information sharing through this newsletter, and provides updates on M.D. business opportunities and tenders.
Scan the QR code below to learn more about Economic Development in the M.D
For more information, please contact:
SCOTT KOVATCHECONOMIC
DEVELOPMENT SPECIALIST
Email: skovatch@md.bonnyville.ab.ca
Website: md.bonnyville.ab.ca
Phone: 780-826-3171