WESTERN ECONOMIC DIVERSIFICATION (WD) Métis Economic Development Symposium Calgary December 2009
MANDATE Western Diversification To help strengthen and diversify the western Canadian economy and represent the West in national decisionmaking.
Research Innovation Community Economic Development Programs Partnerships Business Development National Programs Coordination & Advocacy
Current 2009 10 Budget Total = $423.2M
Business Development Objective: Expand western business sector Strategy: Enhance SME access to capital and business services, trade/investment attraction Activities: Western Canada Business Service Network, Loan Funds, Trade and Investment, Aboriginal Business Service Network, Entrepreneurs with Disabilities Program, Aboriginal Business Development Centres in BC.
Western Canada Business Service Network (WCBSN) Network of more than 100 organizations providing business information, assistance and, to varying degrees, planning and implementation of community economic development initiatives and loans to small businesses. This network includes: 90 Community Futures Development Corporations (CFDCs) 4 Women's Enterprise Initiative Organizations (WEIs) 4 Canada Business Service Centres (CBSCs) 4 Francophone Economic Development Organizations (FEDOs)
Background - CFDCs The purpose of the CFDCs is to assist communities develop and implement local solutions to local problems. Although national in scope, the CF Program has evolved differently throughout the country. In the West, CFDCs are independent, non-profit community based groups with volunteer board members who are representative of, and accountable to, the communities they serve. The activities are directed by their voluntary Board of Directors and implemented by management and staff. WD provides about $300,000 to each CFDC annually for operating purposes. In addition, each CFDC controls an investment fund from which loans are made to businesses in their area.
Investment Funds CFDCs Federal government has provided $170M in investment funds since 1986 to CFDCs in Western Canada Current value of the investment funds is $243M Since 1995, CFDCs in Western Canada have made loans worth $800M On average each CFDC: makes 14 loans averaging $546 K annually Has investment funds worth $2.3M and cash-on-hand to invest of $756K
Aboriginal CFDCs There are 14 Aboriginal CFDCs in the West that are part of the Aboriginal Financial Institutions (AFI) network. These are Aboriginal-controlled community organizations that serve client groups that are either entirely Aboriginal, or primarily Aboriginal. Exclusively Aboriginal: Treaty Seven; Central Interior, Nuu-Chah-Nulth, Sto:lo; Dakota Ojibway, Kitayan, Southeast Majority Aboriginal: Haida Gwaii; Cedar Lake, North Central Manitoba, Northwest Manitoba; Beaver River, Northwest, Visions North
Aboriginal CFDCs Performance 2008-09 Information Services 31,885 Advisory Services 3,958 Training (# of participants) 4,255 Number of Loans 235 Value of Loans $6,317,000 Jobs created/maintained 717 Businesses created/maintained 102
Other WD Aboriginal Activities All of WD s Aboriginal activities focus on enhancing Aboriginal participation in the mainstream economy. While the department does not have any Aboriginal-specific programming, it does provide assistance and support to Aboriginal economic development projects. Aboriginal organizations and communities are among the range of clients that access WD economic development programs, receiving about $20M annually in support for projects. Aboriginal communities also access national programs (such the Mountain Pine Beetle Program, CAF, RInC) that are delivered by WD. For example, under the Softwood Industry Community Economic Adjustment Initiative (SICEAI), WD provided more than $10 million to 46 projects across B.C. that were led by Aboriginal groups.
WD s Recent Aboriginal Projects Examples: Skills Training - Aboriginal Apprenticeship, Women Building Futures, Mobile Training (College of New Caledonia, Northern Community College), Centre for Aboriginal Human Resource Development, Red River, Dumont Technical Institute, Northlands College Business Development - Aboriginal Business Service Network, Aboriginal Business Development Centres with matching funding from BC Corporate Linkages - AB Chamber of Resources, Manitoba Hydro Community Development Aboriginal Tourism Association of BC, FPInnovations, U. of M. Aboriginal Health Education, Fort a la Corne Development, Northern Venture Group, Primrose Lake Economic Development Corporation Studies LaLoche Road Feasibility Study
QUESTIONS?