Boost BC's Local Economies with Community Economic Development
•
1 like•411 views
community economic development strategy for British Columbia
Recommended
Recommended
More Related Content
Similar to Boost BC's Local Economies with Community Economic Development
Similar to Boost BC's Local Economies with Community Economic Development (20)
Recently uploaded
Recently uploaded (20)
Boost BC's Local Economies with Community Economic Development
- 2. § Declining Real Incomes (-9% over 6 years on Vancouver Island) § Lack of investment in affordable housing hurting employers and workers § Work BC and other training programs failing disadvantaged § Living Wage increasingly unattainable for working families § Enabling policy environment for community economic development lags behind other provinces The Issues
- 3. § Job growth in BC highly diversified across sectors in urban and semi-urban areas § Rural, Northern and First Nations communities have unequal economic opportunities § Most job growth is with Small and Medium Sized Enterprises § Growth in social enterprises (including coops) and social value businesses exceeds that of traditional for profit business Trends
- 4. § Unleashes the financial capital of BC residents to invest in their own communities thru Community Investment Funds § Enables Social Enterprises to help disadvantaged residents attain sustainable livelihoods and diversify local economies The Solution - A CED Strategy For BC that:
- 5. § Uses Government procurement to create community and social benefits § Partners with First Nations to create economic opportunity § Gives incentives to grow local sustainable agri-food production § Invests in and gives incentives to increase renewable energy and waste recovery enterprises Solutions for BC :
- 8. • a multi-faceted approach • conceived and directed locally • for revitalizing and renewing economies • by managing and strengthening community resources for community benefit. Community Resources for Community Benefit
- 9. VANCOUVER ISLAND COMMUNITY INVESTMENT COOPERATIVE § Founded in 2015 with members across VI and the Gulf Islands § Developing vehicles to invest in affordable market rental housing and locally owned ethical businesses § Repatriating the $500 m in annual RRSP investments made by residents for local community benefit BC EXAMPLES
- 11. Private Financial Return Manageable Risk High Social Return The Sweet Spot Credit to Michael Shuman THE GOAL OF LOCAL INVESTING
- 12. EMPLOYMENT SOCIAL ENTERPRISE INITIATIVE § Five Year Demonstration Program using Social Enterprises to improve employment outcomes for disadvantaged youth § Funded by BC Government in partnership with BC Centre for Employment Excellence BC EXAMPLES
- 13. FIRST NATIONS ECONOMIC DEVELOPMENT § Ts’ou-ke First Nation energy self sufficient with largest solar array in BC § Sustainable shell fish farm including first sea cucumber production in BC § BC’s only Wasabi Greenhouse operation that finances food greenhouse production that puts a good food box into every household BC EXAMPLES
- 14. SOCIAL PROCUREMENT § Vancouver Island Muncipal Association working on social procurement based on Cumberland’s policy § Universities and Health facilities also working on social and community benefit procurement § Building on proven models in Manitoba, Ontario, Alberta and Quebec § Attractive to small towns and big cities BC EXAMPLES
- 15. AGRI-FOOD BUSINESS § Capital Region Food and Agriculture Roundtable initiative on “Food Hubs” § Vancouver Island Chefs’ Collaborative Loan Fund § Salt Spring Island community investment fund and community farming initiatives § V.I. Direct Farm Marketing Association BC EXAMPLES
- 16. RENEWABLE ENERGY AND WASTE RECOVERY § Viridian Energy Cooperative on V.I. installing solar arrays for residential, farms and institutions § BC Recycling Association, Waste Recovery Companies, Training Agencies cooperating in creating employment for disadvantaged youth in redirecting new waste streams to reuse and job creation BC EXAMPLES
- 17. ALBERTA § Calgary and Edmonton Poverty Reduction Strategies using community economic development and social procurement § Edmonton Community Investment Fund § Proposed Provincial CED Strategy to: • Support local businesses, social enterprises and cooperatives • Support community owned renewable energy projects • Enable community investment funds OTHER PLACES
- 18. ONTARIO § Community Benefit Procurement Policy § Just announced Social Enterprise Strategy to create jobs and: § Equip Social Enterprises with business capacity § Help SEs attract capital, grow and scale § Promote social finance to investors and communities § Five years, $6m in first year OTHER PLACES
- 19. MANITOBA § Community Economic Development Policy and Program § Social Procurement and Employment Policy § Social finance fund, enabling policy and tax credit incentives OTHER PLACES
- 20. NOVA SCOTIA § Community Economic Development Investment Fund Program, 35% tax credit, simplified Securities regulations. § Over $50 m in investments over 15 years, and 50 funds in rural and urban settings § Community owned renewal energy projects (wind and solar) § Now being replicated in NB and PEI OTHER PLACES
- 21. THE USA § Over $50 billion in assets held by Community Development Financial Institutions § Federal and state tax incentives and regulatory enablement § CDFIs active in every sector of the economy and region of the country OTHER PLACES
- 22. THE GOVERNMENT OF CANADA § Federal Government announced Social Innovation and Social Finance Strategy § Work Integrating Social Enterprise program to improve employment outcomes for disadvantaged § Social Finance Demonstration Program § New supports to Community Economic Development OTHER PLACES
- 25. RUPERT DOWNING Policy Council of the Canadian CED Network REDOWNING@SHAW.CA THANK YOU