The Town of Olds marks May 9 to May 13, 2022, as Economic Development Week. During this week, communities across North America will celebrate and recognize the contributions made by professional economic developers to create more economically vibrant and livable communities.
Economic Development Week was kicked off with the Town announcing the launch of a new investment attraction service – Invest Olds. Invest Olds will serve as a new and uniquely branded, key component of the Town’s new investment attraction strategy.
“Through a comprehensive and multi-faceted approach to economic development, marketing, and communications, Invest Olds will serve to promote Olds as a community of choice and instill confidence in the local business environment as a place to invest”, said Judy Dahl, Mayor of Olds.
By capitalizing on the Town’s “investment ready” reputation, Invest Olds will strive to contribute to a healthy economic environment and facilitate conversion of opportunities into actual investment in the community.
Doug Rieberger, Vice President of Olds Chamber of Commerce said, “Investment attraction is often thought of as new investors coming in but it also means local investment in new start-ups or expansions of existing businesses. Invest Olds is about supporting all types of investments and that starts with our local businesses as the priority.”
The Town’s, and now, Invest Olds Economic Development Officer, Sandra Blyth explained, “to attract investment you must be investment ready. Invest Olds is implementing an investment readiness system for streamlining regulatory processes and removing barriers to investment. Investment readiness will require ongoing engagement of technical subject matter experts to meet with investors, remove barriers and streamline processes”. The first step in applying a system was the formation of an internal team identified as the Technical Readiness Team (TRT) to improve efficiencies for serving business. The Team has identified 8 priority areas and 11 projects for streamlining internal processes and policies”.
Other actions to be taken by Invest Olds includes the positioning of a full-time Business Development Coordinator. The BDC will serve as the voice of business and concierge to investors. A temporary landing page for www.investolds.ca was also revealed with a new site to be designed and launched at a future date. The temporary site reveals some new business tools such as a new community profile publication and a dashboard that offers a host of socio-economic data for potential investors. Lastly, Invest Olds launched a new Business Locator and Development map. The map offers various layers of information on locating utilities and infrastructure, land-use areas, historic sites and more. Two key features of the map will include a listing of businesses and properties for sale for interested investors. Invest Olds is working with realtors and business to promote local opportunities. Businesses interested in promoting their business or promoting sale opportunities should visit www.investolds.ca to register or watch for more information on their new LinkedIn and Facebook pages.
Mobilizing business, governments, institutions and key community organizations to harness buy-in for advancing a collaborative, bottom-up regional economic growth strategy was also identified as a priority for the economic development office in 2022.
“The purpose of the strategy is about creating a competitive business environment that will grow local industry clusters, and spur investment from within and beyond. A competitive business environment means providing an environment that gives our businesses an edge to be globally competitive”, said Stuart Cullum, President of Olds College. This strategy is about setting priorities on the needs of our driving industries and investing in their development. Agriculture is one of those key industries that we as a college service”.
For further information please contact:
Town of Olds