Investment discussed
CBRM, Cape Breton Partnership still talking about possible funding arrangement
It’s been about five months since the Cape Breton Partnership came cap in hand asking the Cape Breton Regional Municipality to invest in the public-privately funded economic development group servicing the island.
In September, Cape Breton Partnership CEO Keith MacDonald made a presentation to CBRM council. The ask: an immediate $50,000 in funding and an additional $100,000 coming from the municipality’s 2018-19 budget.
Council approved a motion to at least review the Partnership’s request.
MacDonald said the “broadbased request” would help fund projects that would be of benefit to the local area and the island as a whole.
“Primarily the ask was focused on the CBRM becoming an even stronger partner with the Partnership in some way, shape or form. It’s why we’ve had additional meetings to kind of go through the various potential scenarios.”
In June 2016, the CBRM voted to leave the Cape Breton Regional Enterprise Network, which was set up by the province to identify and pursue economic development opportunities and is administered by the Partnership. The municipalities of Richmond, Victoria and Inverness, as well as the province, each contribute financially to the regional enterprise network.
The CBRM, instead, chose to ally itself with Business Cape Breton, which had been administering the CBREN along with the Cape Breton Partnership until 2016.
Business Cape Breton was tasked by the municipality to bring forward specific initiatives and programs in line with CBRM’s strategy direction.
MacDonald said the Partnership is working with senior municipal staff to work out the details behind its financial request.
He said if the municipality approved the funding the Partnership could offer services not offered by other local economic development organizations.
He pointed to the potential hire of a junior economist similar to economists working for the Halifax Partnership. The person would be responsible for monitoring and measuring on a day-to-day basis the key economic indicators for the island.
Other programs that could be replicated from the Halifax Partnership include a business retention and expansion program, as well as immigration, the digital economy and the exports sector where the CBRM could build a stronger relationship with the Cape Breton Partnership, MacDonald said.
The Cape Breton Partnership has more than 150 investors including Emera/Nova Scotia Power, Kameron Coal and Membertou First Nation. The Cape Breton Post and the Chronicle Herald are also investors listed on the Partnership website.
CBREN municipal partners Inverness, Richmond and Victoria counties also provide annual contributions as investors of the Partnership ranging from $1,500 to $5,000, MacDonald said.
The CBRM is not an investor but MacDonald would like to see that change.
“They have provided some project support in the past. The most recent initiative was the land asset database that the Partnership led in the development of and that was provided through the federal and provincial governments and all the municipal units on Cape Breton.
“The contribution from the CBRM at that time was $5,000 … four years ago.”
Neither the CBRM’s chief administrative officer Marie Walsh nor Jennifer Campbell, the chief financial officer, were available for comment on Friday.
In an emailed statement on Friday, the municipality said it hasn’t given any money to the Cape Breton Partnership in the current fiscal year.
“All issues about funding for economic development will be addressed during the coming budget deliberations in early March,” CBRM spokeswoman Jillian Moore said.