New CEO for Southern Interior Trust
Former head of Women’s Enterprise Centre moves on to another economic development job
It’s economic development either way.
Therefore, Laurel Douglas’ management skills in the sector served the Women’s Enterprise Centre well and will serve the Southern Interior Development Initiative Trust well when she starts there May 4.
For the past 15 years, Douglas has been CEO of the Kelowna-based Women’s Enterprise Centre, which supports women entrepreneurs throughout the province with business loans, advisory services, mentoring and training.
Over that decade and a half, Douglas oversaw the centre provide direct and leveraged financing of $67 million to hundreds of womenled businesses, which helped create or maintain about 3,650 jobs.
Douglas becomes CEO of the trust May 4, taking over from chief financial officer Helen Patterson, who was also interim CEO for the past year.
Since the Southern Interior Development Initiative Trust was created in 2006, it has made investments in companies and initiatives with $50 million in loans and $13 million in grants.
The investments have helped create more than 3,400 jobs and 300 scholarships per year for post-secondary school students.
“I’m looking forward to joining (the trust) to help (it) continue contributing to the economic prosperity and quality of life in our region,” said Douglas.
The trust’s mandate is the help grow and diversify the economy of the region from the U.S. border in the south, Blue River in the north, Hope to the west and the Alberta border to the east.
The trust was started with onetime funding of $50 million from the province.
Most of that initial $50 million is kept intact with a steady stream of loans being paid back with interest.
“Laurel’s extensive background, network, development lending experience and her commitment to our region will be of great benefit to the Southern Interior Development Initiative Trust as we support strategic investments in economic development projects,” said trust chairman Chris Pieper, who is also the mayor of Armstrong.