Economic development requires co-operation

As Lethbridge approaches the 100,000 population milestone, it’s important to consider the role of economic development to our community’s continued prosperity and growth.

According to Economic Developers Alberta (EDA), economic development is defined as: “the process of developing, diversifying and maintaining suitable economic, social and political environments in which balanced growth may be realized increasing the wealth of the community.”

At Economic Development Lethbridge, our role is to support business and promote this city as a place for enterprise and a place where residents can thrive within a welcoming community.

In practice that means helping businesses access the information, support and connections needed to start, grow or relocate. Last year, in its fifth anniversary of operations, the tecconnect centre for entrepreneurship and innovation had a 90 per cent occupancy rate of up-and-coming tech companies. We helped 12 new businesses choose Lethbridge as their location and hosted several successful networking events including the Food for Thought luncheon with local business and community leaders.

We’re also here to tell the Lethbridge story so that people on a local, national and international level can see everything our community offers. Our mandate includes working to attract major conferences, meetings and events to Lethbridge, a role we will continue to play over the next year while the city transitions that function to a new Lethbridge Destination Management Organization. We know tourism is an important economic driver; in 2016, more than 16,000 business travellers visited Lethbridge, contributing $6.6 million to the local economy.

We’re proud of the work we do to serve our city, but we also recognize that economic development is a process that requires co-operation between among the many partners who are invested in Lethbridge’s success. For collaboration to succeed, decisions need to be guided by the best information possible. That’s one of the reasons we undertook an ambitious Commercial and Industrial Development study in partnership with the City of Lethbridge and Lethbridge County. With constant evolution to the way we live, work and enjoy our space, staying connected to the changing economic environment and land use trends will help us plan for a bright future.

This study began in fall 2016 and was conducted by MXD Development Strategists to assess and define the optimal mix of land uses for development in Lethbridge and the Urban Fringe area of Lethbridge County over the next two decades. It outlines specific strengths, challenges and future development opportunities. It includes recommendations for projects that could help trigger development in emerging economic sectors and provide positive trickledown effects for the local community. These projects include a food hub and processing district for small- and mid-sized agribusinesses, a central market to boost the local foodie scene, an innovation district to help young entrepreneurs or startup businesses get off the ground, and a combination performing arts centre/convention facility located in the downtown core. The full report is available on

https://chooselethbridge.ca/publica tions.

Having access to third-party insights based on best practices and global trends can spark new avenues of thinking and visionary discussion of what we want the future to look like.

This is an exciting time for Lethbridge and for EDL, a time of growth and transition. As we move forward we look to our 25-member volunteer board of directors to keep us connected to the needs of the community we serve and help us adapt to new opportunities. With their leadership, our organization will continue to work to bring together those that share our vision of a collaborative, diverse and prosperous community.

Trevor Lewington is CEO of Economic Development Lethbridge.