The North Vancouver Chamber of Commerce has launched a new three-year program that aims to stimulate and support local businesses.
With a $1-million budget, the Economic Partnership North Vancouver brings together a number of stakeholders - including industry representatives, Capilano University, local government and First Nations, Port Metro Vancouver and the Business Development Bank of Canada - to collaborate on the economic development program. In a statement released by the chamber, CEO Louise Ranger said North Vancouver is "a geographically strategic area" with "significant economic activity."
"We are home to one of the largest commodity ports in the world and a renewed shipbuilding industry so there is a significant opportunity to strengthen existing businesses and attract new business investment to the region. However, with many stakeholders, two municipalities, two First Nations, and a federally-regulated port, regional integrated economic planning can be very challenging," she said.
The new program will provide services intended to support existing businesses and attract new ones. That might include connecting businesses to local supply chains, working with regulators to reduce barriers, providing information for growth and start-up opportunities, creating business skills development and training programs with local institutions, promoting trade and investment, and engaging the community to support the economy.
Local industry, the City of North Vancouver and the District of North Vancouver each pitched in 20 per cent of a total $630,000 to support the initiative. Another $420,000 was provided by the federal government through the Western Diversification Program, bringing the total budget to $1.05 million. The money will be used to hire an economic development team to carry out the initiatives of the three-year program.
The first stakeholder meeting of Economic Partnership North Vancouver was held July 16.
