The City of New Westminster’s new economic development plan has crossed the finish line.
Council recently adopted the Future Forward plan, which has been in the works since the fall of 2016. The economic development plan has four main goals: establish New Westminster’s reputation as an ideal location for both start-ups and established businesses to thrive and grow; drive New Westminster’s commitment to delivery of a positive business experience at city hall; secure diversity in the local economic base through recruitment, retention and expansion activities; and support livability initiatives that make New Westminster a great place to live, work and invest.
“The supporting actions focus on marketing and promoting the city as a place for business, solidifying key stakeholder relations and development of collaboration initiatives while laying the foundation for continued economic growth,” said a staff report. “Furthermore, business retention and attraction efforts focus on the key sectors of education, healthcare and technology and creative. These sectors share well-paying jobs and growth potential, critical factors for business in the larger Metro Vancouver region.”
Retiring councillor Bill Harper noted the city didn’t even have an economic development strategy a decade ago. He said the new plan is a “step up and a step forward” for the city.
“We have come a long, long way,” he said. “It has really paid off in terms of the development of our tax base, which was actually being eroded with the disappearing of sawmills and things. To reenergize ourselves as a city and to build those relationships with the business community, I think has been a huge success. What this plan is is moving to the next level. It’s moving to a higher level of participation by the city in the development of the economy here.”
Coun. Mary Trentadue said the strategy is a blueprint for the city and will be “really helpful” going forward. She believes it will help the city better support existing businesses so they can grow and thrive and help to attract more businesses to the city.
“I think the voices of our local community are really reflected in this document. I think that’s really powerful. The other thing I think is equally useful is we have a document that we can now show to people who don’t live here, who don’t have a business here and are considering New West. We have need that. We have needed some sort of vehicles that we can go out to other businesses in the Lower mainland and say this is why you should be in New West,” she said. “I really feel very strongly that its document will help people make that decision to be here.”
