Town councillors unanimously supported a motion Monday, pre-approving a 2014 budget expenditure of $47,100 towards attracting foreign investment.
The money would be used to match federal government funding under the Invest Canada-Community Initiative Fund. An application has been submitted and the town should hear about mid-December if it was successful in obtaining money from the program.
Three critical components of investment readiness are included. The first is development of a Foreign Direct Investment Strategy, the second is a marketing strategy and collateral and the third is a micro website for investment attraction.
“The major point to note with respect to this initiative is that although the application is to a federal department with a focus on foreign direct investment, the result or strategy and marketing materials, including the web component, can also be applied to investment attraction within the province and Canada,” wrote Kurz. “This is the only funding program (provincially and federally) accessible to move the Town’s Business Retention, Expansion and Investment Attraction agenda forward, utilizing matching funding, at an accelerated rate without hiring additional staff.”
Kurz will be releasing a request for proposal this month so that if the town is successful in getting the grant, work can begin prior to the end of January.