The Island Coastal Economic Trust says the Town of Comox is preparing a new economic development plan to address infrastructure gaps, economic policy, and development application processes.
The trust says it will encompass both short-term (two to three years) and long-term strategies that aim to boost attraction, employment lands infrastructure and new commercial industrial growth. They will be making a $30,000 investment to the strategy to a total $160,000 budget.
A short-term, tactical implementation plan will be made along with economic development shovel-ready investment infrastructure scoping. The town adds they need to redefine its last economic development plan to focus on key sectors like air and marine transport, food and beverage, tech, tourism, arts, culture and events.
“Our new economic development plan, supported by the Island Coastal Economic Trust’s Investment Readiness Program, highlights a shared commitment to fostering resilience, innovation and inclusivity for our community,” said mayor Nicole Minions.
“By focusing on strategic sectors such as air and marine transportation, tourism and the vitality of our downtown, we aim to redefine our economic landscape in a sustainable way.”
They say the project will engage a consultant to guide the town through the process of developing a comprehensive economic development strategy.
“It’s vital that we have a strong and clear sustainable economic and investment strategy with an aligned vision that enhances and strengthens our town’s economic vibrancy,” said CAO Jordan Wall.
“This initiative will provide us with clear, action-based tactical initiatives and improved requirements including an understanding of investment attracting, business retention, site selection and community profile data.”
Trust chair Aaron Stone adds they are excited to work with the town again on a new economic strategy and feels the investment will go a long way.
