COQUITLAM, B.C., Sept. 27, 2022 – Coquitlam’s Economic Development Strategy (EDS) is starting to take shape with the completion of the community engagement and the data gathering process.
Two foundational documents – a draft Vision and an Employment Lands and Economy Review – were presented to Council-in-Committee on Monday afternoon. These two documents will shape the development of the draft EDS, which will provide a strategic vision and implementation plan for a local economy that works for everyone.
Economic Development Strategy – What We Heard
Through spring and summer 2022, the City gathered input from across the community through meetings and workshops with Council and advisory committees, interviews with key businesses and community members, as well as youth, in addition to a public survey. The draft Vision document is a detailed record of this engagement process and the feedback received.
Collectively, this feedback has helped to shape the emerging vision for a successful EDS. While different segments of the community had different feedback on the development of the EDS, in general key findings were grouped into three themes:
- People – ensuring there is a range of employment opportunities, opportunities to live and work in the community, celebrating the diversity of the community and providing a high quality of life.
- Place – creating a vibrant regional hub north of the Fraser River that balances land uses, infrastructure and development, the natural environment, and fosters arts and culture to establish a distinct sense of place reflective of community diversity.
- Partnerships – continuing to prioritize partnerships to strengthen community, attract investment, and support collaboration with First Nations, businesses, educational institutions and community economic development partner organizations.
The draft Vision document, as well as an infographic summarizing the feedback from the public survey is available at letstalkcoquitlam.ca/ecdev.
Good Data Supports the Vision
The project team also recently drafted an Employment Lands and Economy Review. This technical document will inform the development of the EDS through quantitative and qualitative analysis of employment, market and land-use trends, strengths, weaknesses, opportunities and challenges.
The Review builds on the community feedback to provide a data-driven overview of Coquitlam’s economy with analysis of regional context, demographics, employment projections, as well as trends relevant to local economic potential and future demand analysis against existing employment capacity. This document is one of the most in-depth analyses of Coquitlam’s local economy to date.
The Employment Lands and Economy Review is available to read at letstalkcoquitlam.ca/ecdev.
Next Steps
The project team will continue working to pull together a draft EDS as well as developing a draft Implementation Plan and Strategic Investment Plan. Feedback from Council, the Economic Development Advisory Committee, staff and the community will continue to be integrated into the final strategy and supporting documents.
The final EDS is anticipated to be finished early in 2023 for implementation beginning the same year.
About the Economic Development Strategy
The Economic Development Strategy (EDS) is being developed through extensive research, analysis, and public engagement. Building upon Coquitlam’s strengths and assets, the EDS will identify challenges, as well as future opportunities for the City, and engage with businesses, community organizations, youth, and First Nations, to contribute to a strategy that works for everyone.
The new EDS will support Coquitlam’s efforts to build a responsible future with shared prosperity. As the backbone of local entrepreneurship and economic vitality, local businesses and residents are foundational to the City’s success and livability.
The COVID-19 pandemic has created hardship and imbalances in the local economic system. While the pandemic recovery continues to present uncertainty, which is always challenging for business climate, it also provides potential opportunities to pivot, re-evaluate our focus, and reassess strategic directions for more resilient local economic development. The EDS will serve as this unifying and guiding roadmap, spurring a clear five-year action plan to support our local economy and the ongoing establishment of a complete community.
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Media contact:
Andre Isakov
Manager Economic Development
City of Coquitlam
604-927-3442
aisakov@coquitlam.ca