(Lethbridge News Now)

By David Opinko

Lethbridge getting new economic Regional Development Agency

Aug 5, 2021 | 12:30 PM

LETHBRIDGE, AB – New resources to support Lethbridge’s economy will soon be on the way.

Through the federal government, Prairies Economic Development Canada (PrairiesCan) is the new regional economic development agency for companies in Alberta, Saskatchewan, and Manitoba.

Economic Development Minister Melanie Joly says it will build on the work of Western Economic Diversification Canada.

“Western Canada’s economy is growing and diversifying more each day, requiring a tailored approach that considers its needs and seizes its opportunities. Our government is proud to be investing in the economic future of innovators, businesses, and communities across the Prairies with the creation of PrairiesCan. For more than 30 years, WD has done tremendous work in the West and this is the beginning of an exciting new chapter.”

Joly says the goal of these offices will be to help entrepreneurs grow their businesses by having access to capital and to navigate the federal government’s business development programs.

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The federal government is creating two new regional development agencies for the Prairie provinces and British Columbia. PrairiesCan will be able to significantly extend its research by establishing new service locations in the following locations:

• Alberta: Lethbridge, Fort McMurray, Grande Prairie
• Saskatchewan: Regina and Prince Alberta
• Manitoba: Brandon and Thompson

The combined budget is $149-million, funding for which was announced in Ottawa’s 2021 budget with the goal of ensuring Canada will be healthier, more equitable, greener, and more prosperous.

Special Representative for the Prairies, Jim Carr, says it is important for economic development resources to have a locally-informed approach.

“In roundtables across the Prairies, entrepreneurs, innovators, institutions, and community leaders have been clear about the need for more federal resources for investments and community economic development based on their unique needs. The establishment of PrairiesCan and its expanded footprint is a substantial step in that direction.”

It was not stated in a press release from the federal government when the new Regional Development Agencies are expected to be completed, nor their exact locations.