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The Way We Prosper: Economic Development Plan

There are expectations from citizens and business leaders that Edmonton’s economic future be diverse and sustainable so that Edmonton can continue to grow as a prosperous, competitive world city.

To achieve that, the City of Edmonton is preparing The Way We Prosper, a comprehensive economic development strategy for the city. The strategy is one of the six “Ways” – the 10-year strategic goals identified in the City’s strategic plan The Way Ahead that will help to set direction, guide decisions and align the priorities for transforming Edmonton’s future.

The Way Ahead describes Edmonton in the future as an economic powerhouse and identifies economic diversification as a key goal for the city. It directs that the City play a positive role in the development of a diverse and prosperous economy.

The Way We Prosper will focus on what it means to achieve the goal of “diversifying Edmonton’s economy” in a time of global economic turmoil and an uncertain economic recovery.

The strategy will be developed over the course of the fall 2011 to fall 2012. The Sustainable Development Department will guide the development and coordination of the strategy, in collaboration with Edmonton Economic Development Corporation (EEDC), and input from business and economic leaders and organizations in the city, as well as citizens.

The City has hired an impressive team of experts to draft the strategy, led by Millier Dickinson Blais, one of the country’s leading economic development firms with offices in Alberta and Ontario. They are joined by Western Management Consultants based in Edmonton, Calgary, Vancouver and Toronto; Location Strategies from Ontario; and Queen’s Executive Decision Centre at Queen’s University in Kingston, Ontario.

There are also a number of excellent recent economic development studies and economic forecasts by the province of Alberta and the Capital Region Board that begin to map out what is required for Edmonton to continue developing a diverse and prosperous economy.

There are five outcomes (approved by City Council in March 2011) envisioned for the economic development strategy:

  • The City supports a competitive business climate and delivers business friendly services.
  • The City facilitates the development of established businesses and sectors.
  • The City supports the development of high potential sectors.
  • The City attracts talent and investment making it nationally and internationally competitive.
  • The City is an effective participant in regional partnerships and collaboration.

In the end, The Way We Prosper will facilitate the transformation of Edmonton and contribute to the diverse and prosperous economy envisioned by The Way Ahead.



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