COEDC launches Roadmap to Resiliency: COEDC Strategy 2025 to 2030

COEDC News February 20, 2025

The COEDC is excited to announce its new strategic plan to drive sustainable regional growth and position the Central Okanagan for resiliency in the face of economic uncertainty.

The Central Okanagan Economic Development Commission (COEDC) works to foster the development of a healthy community economy by supporting existing businesses and encouraging new business investment in the Central Okanagan.

The COEDC Strategy 2025 to 2030 builds on regional strengths, addresses current challenges and pursues top investment opportunities to support a thriving business environment. It will provide a roadmap for economic resilience amid changing conditions based on regional assets and existing economic development programs. Comprehensive community engagement and economic analysis guided the development of the renewed strategic directions below:

• Drive Economic Resilience: support businesses in adapting to a changing landscape
• Build a Skilled Workforce: foster a skilled regional workforce by focusing on talent development, attraction and retention
• Promote Innovation: promote innovation to boost labour productivity and resource efficiency
• Grow Export-Focused Industries: strengthen the export base by attracting high-value companies, supporting market expansion and building regional supply chains

The report includes suggested actions associated with each strategic direction that COEDC staff will implement over the next five years. These actions are further detailed in the report, including the COEDC’s role, potential partners and key performance indicators. The overall strategy has been developed in alignment with the projected resources outlined in the COEDC’s 5-year financial plan, as well as anticipated grant and partnership funding opportunities.

“The new strategy’s focus on economic resiliency is timely amidst current economic uncertainties,” says Krista Mallory, Manager of the Central Okanagan Economic Development Commission. “By conducting thorough analysis and engaging with the community, we’ve identified key opportunities and set a clear path for a resilient regional economy. The plan’s actions are designed to be adaptable, enabling us to respond effectively to economic disruptions and opportunities over the next five years.”

The COEDC’s new strategic plan will be a roadmap for the region’s economic resiliency. With the support of industry, post-secondary institutions and community partners, this plan will drive long-term regional development and establish the Central Okanagan as a leading economic hub.

To learn more about Roadmap to Resiliency: COEDC Strategy 2025 to 2030 visit: https://www.investkelowna.com/about-the-coedc/coedc-strategy-2025-to-2030/.