COQUITLAM, B.C., May 9, 2023 – Coquitlam has a new vision for a local economy that promotes a responsible future with shared prosperity thanks to the adoption of a new Economic Development Strategy.
Council gave unanimous approval last night to the document, which outlines steps to create a vibrant regional and cultural hub north of the Fraser River that is a desirable place to live, visit and do business. The Economic Development Strategy is a forward-looking document that outlines a vision and specific goals and strategies that the City will undertake to support the development of a resilient and sustainable economy that works for everyone.
Coquitlam’s Economic Development Strategy was also developed to align with other approved City plans and strategies such as the Citywide Official Community Plan, the Strategic Plan, and the City’s overall planning framework.
The project team developed the Economic Development Strategy through sound research, industry best practices and community engagement from both the public as well as community economic partners and the Economic Development Council Advisory Committee.
The final Economic Development Strategy and all of its related components are available to read at coquitlam.ca/EconomicStrategy.
Building Blocks for a Resilient Future
The Economic Development Strategy was created using a building block process that ensures it reflects the needs, priorities and aspirations of Council and Coquitlam’s diverse community. These building blocks included:
- Vision – incorporates the feedback from the public engagement process in spring and summer 2022. The vision includes the values, themes and goals of the Economic Development Strategy, which are organized around three key themes: people, place and partnerships.
- Employment Lands and Economy Review – the analytical backbone of the draft strategy, this review provides an overview of Coquitlam’s economy with an analysis of regional context, demographics, employment projections and future trends.
- Implementation Plan – provides a clear, focused and tangible inventory of proposed actions for the City to implement in order to support the achievement of the identified objectives.
- Strategic Investment Plan – provides a more focused look at the context, opportunities and challenges for attracting and growing inbound and outbound foreign direct investment to Coquitlam.
All of these documents are available at coquitlam.ca/EconomicStrategy.
About the Economic Development Strategy
Coquitlam’s Economic Development Strategy supports the City’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.
Coquitlam’s Economic Development Strategy is a unifying and guiding roadmap, spurring a clear five-year action plan to support our local economy and the ongoing establishment of a complete community. Read more at coquitlam.ca/EconomicStrategy.
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Media Contact:
Andre Isakov
Manager Economic Development
604-927-3442
aisakov@coquitlam.ca
We acknowledge with gratitude and respect that the name Coquitlam was derived from the hən̓q̓əmin̓əm̓ word kʷikʷəƛ̓əm (kwee-kwuh-tlum) meaning “Red Fish Up the River”. The City is honoured to be located on the kʷikʷəƛ̓əm (Kwikwetlem) traditional and ancestral lands, including those parts that were historically shared with the sq̓əc̓iy̓aɁɬ təməxʷ (Katzie), and other Coast Salish Peoples.