Cortes Island Economic Action Plan

Cortes Island Business & Tourism Association (CIBATA)

Sources of Funding
ICET:$12,500
Strathcona Regional District GIA:$12,500
Total Budget: $25,000

Cortes Island is a community with a year-round population of approximately 1,100 residents. The Island is situated at the entrance to Desolation Sound - a world-famous destination for boaters - and has a popular summer tourist season. However, since the 2008 recession, the Cortes economy has been affected by declines in ferry traffic and tourism, declining school enrolments, increasing median age, and decreasing average incomes.

Through this project, the Cortes Island Business and Tourism Association has created a community-driven economic development action plan to support a diverse and efficient local economy. The project includes the establishment of an economic development readiness committee, a summary of existing Island economic trends, identification of investment strategies, as well as creation of robust monitoring and results-based management processes to measure both progress and outcomes.

The resulting five-year action plan will assist the community to prioritize key economic activities, investment strategies, and pilot projects.

ICET By The Numbers

2,500
person years employment created (construction phase)

ICET By The Numbers

50
locally elected officials and MLAs working together

ICET By The Numbers

$10.4
million annual provincial government revenue generated

ICET By The Numbers

3,650
post completion jobs created

ICET By The Numbers

$4.6
dollars leveraged for every ICET dollar invested

ICET By The Numbers

$236
million leveraged into the region

ICET By The Numbers

$50.5
million disbursed

ICET By The Numbers

$52.1
million committed

ICET By The Numbers

212
economic development projects

ICET By The Numbers

170
projects completed

ICET By The Numbers

36%
projects in small (less than 5,000) communities

ICET By The Numbers

50+
communities with ICET projects

2019-2020 ANNUAL REPORT

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