CCEDA Economic Development Commons

Cortes Community Economic Development Association

Sources of Funding
ICET:$
Applicant Equity:$$18,950
Total Budget: $$33,950
Quick Facts: 

The community-led project will help develop a stable, supported and sustainable business community on the Island.

There is a shortage of commercial space and community gathering spaces on Cortes Island. As a result, some small businesses have been unable to start up, forced to close or obliged to repurpose substandard housing for commercial purposes. A previously supported ICET project, the Cortes Community Economic Development Association (CCEDA) Local Economic Plan, addresses the need for new commercial space as top priority for the community’s economic well-being.

The project, led by the CCEDA, will develop a plan to create a new community owned commercial development, on 2.6 acres of property stewarded to the group in 2018 and situated in the heart of Cortes’ community centre, Mason’s Landing. The long-term plan for the facility will include commercial space, enhance food security and create new community gathering uses within a social enterprise model.

Project works will include community engagement to refine demand and opportunity. The second phase will be to translate the community vision and commercial opportunity into a feasible concept design and related operational planning documents, required access senior government sources of infrastructure funding, as well as other market-based sources of financing.

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

2,750
post completion jobs created

ICET By The Numbers

$4.6
dollars leveraged for every ICET dollar invested

ICET By The Numbers

$246
million leveraged into the region

ICET By The Numbers

$52.3
million disbursed

ICET By The Numbers

$55.2
million committed

ICET By The Numbers

230
economic development projects

ICET By The Numbers

210
projects completed

ICET By The Numbers

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

ICET By The Numbers

50+
communities with ICET projects

2020-2021
ANNUAL REPORT

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