April 23, 2021
City Council unanimously approved The Edmonton Economic Action Plan (EAP) which outlines the City’s plan to collaborate with it’s partners, prioritize equity and partnership, and focus on actions to grow and diversify the economy.
“The EAP is a roadmap for building a resilient economy and outlines opportunities to grow and diversify the economy,” said Stephanie McCabe, Deputy City Manager, Urban Form and Corporate Strategic Development. “The City will do this by creating opportunities that embrace and grow relationships with our partners and support businesses to thrive in emerging industries in the energy and innovation sectors.”
The EAP brings together past and current economic development work and ensures a balance of the current challenges with future opportunities; it is designed to leverage current resources as best as possible so there is no budget ask associated with it.
“There is a need to consider economic development in a range of City initiatives that promote job growth. The goal is to create the conditions for this job growth, and, specifically, to support 121,000 net new jobs in 10 years,” added Stephanie McCabe.
In planning for a city of two million people, the EAP aims to meet this goal through five key principles:
- We will support new and established businesses and entrepreneurs to thrive in a new economy.
- We will maximize the potential of our existing land, assets and physical attributes.
- We will support growth and diversification of our economy in a sustainable and equitable way.
- We will remain and become a destination of choice for talent and capital.
- We will embrace and grow our relationships and partnerships.
The City wants to thank the many business and community partners who provided input and support for this work. This is an important plan and will be the cornerstone of a strategic approach to economic growth where people with great ideas and skills stay and succeed, and our economy is responsive to climate change.
