The government structure within Canada is divided into three distinct jurisdictions with its own individual mandate. The federal government, provincial and municipal governments. Economic development is defined as “The progress in an economy, or the qualitative measure of this”. They all have similar but distinct roles to play in economic development within the country. This paper will look at each jurisdiction and what helps them deliver effective long-term economic development.
The municipal agency that will be discussed is called Calgary Economic Development. This important organization works with businesses, government and community partners to pivot Calgary as a prime location for investments in business, nurturing trade and cultivating …show more content…
The first group looked into capital investment & infrastructure and the different ways in which stimulus could be created through intelligent and strategic investments that are also supported by private capital. The second group examined our talent & labour markets to find ways to combat the demographic deficit Canada will experience and making a more robust workforce that is prepared for rapid change. The third group scouted the competitive market environment and ways to become more connected on the global stage. The last group looked at innovation and methods to help bring inventions made into commercial innovation by scaling firms up. The first wave of recommendations was produced with three main objectives. The first objective was unleashing productivity through infrastructure with the creation of a Canadian Infrastructure Development Bank that would distribute $200 billion to project over the next ten years. The second objective was attracting foreign investment to Canada by creating a foreign direct investment agency that makes the country a desirable location for capital, skills, and firms. The last objective is to increase Canada’s projected annual immigration target of 300,000 to 450,000 over the next five years to help combat the aging demographic problem that results in a lack of talented …show more content…
Despite the many strengths that Canada has, the global market environment puts the country in a difficult spot with the projected rate of stagnation to be a possible devastating threat to the prosperity of its citizens. Through the recommendations of the Council, the hope is to raise the pre-tax median annual household income to over 15,000 the baseline projected by 2030. Taking bold action that is provided by the Council is not only important but crucial to weather the economic storm to maintain long-term economic development across the
The municipal agency that will be discussed is called Calgary Economic Development. This important organization works with businesses, government and community partners to pivot Calgary as a prime location for investments in business, nurturing trade and cultivating …show more content…
The first group looked into capital investment & infrastructure and the different ways in which stimulus could be created through intelligent and strategic investments that are also supported by private capital. The second group examined our talent & labour markets to find ways to combat the demographic deficit Canada will experience and making a more robust workforce that is prepared for rapid change. The third group scouted the competitive market environment and ways to become more connected on the global stage. The last group looked at innovation and methods to help bring inventions made into commercial innovation by scaling firms up. The first wave of recommendations was produced with three main objectives. The first objective was unleashing productivity through infrastructure with the creation of a Canadian Infrastructure Development Bank that would distribute $200 billion to project over the next ten years. The second objective was attracting foreign investment to Canada by creating a foreign direct investment agency that makes the country a desirable location for capital, skills, and firms. The last objective is to increase Canada’s projected annual immigration target of 300,000 to 450,000 over the next five years to help combat the aging demographic problem that results in a lack of talented …show more content…
Despite the many strengths that Canada has, the global market environment puts the country in a difficult spot with the projected rate of stagnation to be a possible devastating threat to the prosperity of its citizens. Through the recommendations of the Council, the hope is to raise the pre-tax median annual household income to over 15,000 the baseline projected by 2030. Taking bold action that is provided by the Council is not only important but crucial to weather the economic storm to maintain long-term economic development across the