COQUITLAM, B.C., April 15, 2024 – The City of Coquitlam will be boosting investment and growth in its business sector through strategic marketing efforts, supported by recent federal grant funding.
City Council recently approved the allocation of $43,000 from the Economic Development Reserve to match funding provided through the federal CanExport Community Investments Program. These funds will support the development of a dedicated website targeting Foreign Direct Investment and accompanying marketing materials so that the City can continue to showcase itself as a destination for local and international business.
Completion of the project is targeted for spring 2025.
A Road Map for Investing in Coquitlam
This work is a priority action from the ongoing implementation of the Economic Development Strategy adopted by the Council in May 2023. Designed to provide a clear roadmap for economic stability and growth over the next five years, the strategy emphasizes the importance of marketing investments to support and enhance Coquitlam's business sector.
The Economic Development Strategy outlines key action items that will strengthen the City’s position as a place for business and a desired quality of life. Of those, five action items have been earmarked by staff for implementation over the next two years:
- Developing an Economic Development Competitiveness Study
- Creating new business promotional marketing materials
- Establishing direct business outreach programs and services, including employment space demand support and services for export-oriented businesses
- Working with partners to attract and accommodate major employers and institutions into Coquitlam's City Centre neighbourhood, as well as other commercial areas
- Supporting the establishment of new business improvement areas
These actions aim to attract major employers, support business improvement areas, and strengthen Coquitlam's position as an investment destination.
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.
Media contact:
Eric Kalnins
Manager Economic Development
604-927-3950
ekalnins@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.