Council to contribute $15,000 toward development of business plan for proposed agriculture innovation centre

A business plan for the proposed Okanagan Agriculture Innovation Centre in Summerland is a step closer to creation thanks to support from council.

Council voted unanimously to contribute $15,000 to the Summerland Chamber of Commerce for the development of the OAIC’s business plan.

The contribution will come from the economic development fund.

The chamber estimates that the total cost of the project will be $50,000.

In addition to Summerland’s $15,000, contributions of $25,000 from the Ministry of Agriculture and $5,000 each from Community Futures and the City of Penticton are being requested.

“At this time, there is interest from the provincial government to assist in the development of an Ag Tech Centre in Summerland. A business plan is required to further move this,” chief administrative officer Linda Tynan told council at this week's meeting.

Council requested that the chamber include a district of Summerland staff member on the steering committee for the business plan development.

In her memorandum to council, Tynan suggested that the economic development project coordinator, Andreas Boehm, could participate in the steering committee and assist the chamber in the coordination of this large undertaking.

The goal of the proposed centre is to foster and advance innovation, technology, job growth and development within agriculture. A significant return on investment is anticipated. Among the potential significant returns is that businesses aided by centres such as the proposed OIAC have a much greater survival rate than other startup businesses.

This is turn would lead to job creation and promotion of other local investments.

Summerland Chamber of Commerce has been working on an agri-tech portfolio since 2013.