By Mark Squibb/October 21, 2022
Mount Pearl council this week awarded a contract for development of an economic development strategy to KPMG in the amount of $80,000, plus HST.
“I’m very happy to introduce this today,” said Deputy Mayor Nicole Kieley. “The City remains committed and focused on economic development. We strategically move our city forward in that work… This economic development strategy will provide research in regional and provincial economic analyses, business retention and expansion findings, community engagement initiatives, and asset readiness. We are sharpening our tools here.”
The strategy, said Kieley will outline strengths, weakness, and opportunities, and threats as well as competitive analyses.
“So, based on the research and findings, the strategy will offer recommendations and actions on how to achieve the City’s long-term vision for economic development— an important aspect of our city.”
She said that the overall goal was to “enhance, rebuild, and reinvest” the City’s key assets — to revitalize the downtown core, reinvent outdoor space, increase accessibility of community spaces, create a tourism destination, as well as attract and retain immigrants and investment opportunities.
The City of Mount Pearl, along with the neighbouring municipalities of St. John’s, Paradise, and Conception Bay South, have in recent years been working towards a collective economic development strategy.
The four communities announced the initiative in June, 2021, which was funded with over $53,000 in federal ACOA funding and a $10,000 contribution from each of the four municipalities.
During Phase 1, a consultant (MBD Insight) was hired to review and report on the potential benefits and concerns of a regional economic development framework.
Upon completion of Phase 1, the municipalities were to review the consultants’ findings and choose whether or not to move forward.
Phase 2 began in January 2022. During Phase 2, MBD Insight undertook additional research and analysis and then presented recommendations for a regional economic development framework.
Mayor Dave Aker spoke briefly to the decision.
“Pursuing this strategy, the City had a couple of choices this past winter, one coming out of our budget process and strategic direction, and another coming out of the thought of putting some money into an organization that would look at economic development for the entire region, and I think we decided to go with grassroots, and to go with home grown, so we are going to take a pass on the regional economic development piece, as are some of the other communities in the region,” said Aker. “But, having said that, I think this is a really good direction for us to go, as we focus on our community.”
