Ladysmith Economic Development Strategy

Economic Development Cowichan

Sources of Funding
ICET Contribution:$15,000
Economic Development Cowichan:$5,250
Town of Ladysmith:$5,250
Nanaimo Airport Authority:$1,000
Szt-uminous First Nations:$1,000
Ladysmith Downtown Business Association:$1,000
Ladysmith Chamber of Commerce:$1,500
Total Budget: $30,000

Located between Vancouver Island’s two major urban centers, the Town of Ladysmith is uniquely positioned to attract new business development. Multiple organizations in the region have led independent economic development efforts, however there was an opportunity for greater efficiencies and outcomes through collaboration under a unified strategy.

In November 2017 a working partnership was formed between the Town of Ladysmith; Ladysmith Chamber of Commerce; Economic Development Cowichan; Ladysmith Downtown BIA; Community Futures Central Island; and the Stz’uminus First Nations to deliver a single, comprehensive economic development strategy for the region. The Nanaimo Airport Authority is also a partner in funding the work.

The project included stakeholder consultation and creation of a steering committee to assess existing plans and documents and identify economic priorities. Outcomes included an up to date inventory of all projects in progress, a list of priority projects, and a three-year implementation plan including research into funding mechanisms.

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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