Intermunicipal Economic Development Strategy (IEDS)
The Towns of Black Diamond and Turner Valley, in recognizing the shared potential of their communities, have developed the Black Diamond – Turner Valley Intermunicipal Economic Development Strategy (IEDS). The strategy will leverage existing economic development work done by both communities and advance innovative strategies that stimulate shared growth and prosperity.
IEDS Marketing Plan
Turner Valley and Black Diamond Councils accepted the Black Diamond / Turner Valley Intermunicipal Economic Development Marketing Plan
The marketing goals for the IEDS Marketing Plan define what successful implementation will achieve. These include:
- That the Black Diamond – Turner Valley Intermunicipal Economic Development Strategy is seen as a milestone for the towns’ new shared direction.
- Black Diamond and Turner Valley have a common economic development brand and shared marketing resources.
- Black Diamond and Turner Valley are viewed as investor-ready.
- Potential investors, visitors and residents are aware of what community, business and tourism assets are available.
Turner Valley and Black Diamond Councils accepted the Black Diamond / Turner Valley Intermunicipal Economic Development Strategy
The document outlines strategic directions to move the initiative forward. These include:
- Build Economic Development Capacity
- Foster a Friendly Environment for New Development and Existing Businesses
- Support Business Retention and Expansion Entrepreneurship
- Target Community-Based Economic Development
- Make Black Diamond and Turner Valley a Destination
At the May 23, 2018 Friendship Agreement Meeting (FAM), Councils agreed to pursue an Intermunicipal Economic Development Committee (IEDC) and submit Community and Regional Economic Support program (CARES) funding application to jointly:
- Increase business investment, job creation, increase the non-residential tax base for both communities
- Focus on business retention and support, diversification and promotion
- Maximize limited resources and extend marketing impact
- Strengthen community identity and pride
Black Diamond and Turner Valley Councils announced the appointments of six members-at-large to the newly formed Intermunicipal Economic Development Committee (IEDC). Their appointments launch the next step in the economic collaboration between the towns built on a commitment to work together to maximize investment opportunities and marketing impact.
The following Intermunicipal Economic Development Committee applicants were appointed:
Tarek Nemr: IEDC Chair & Owner and operator of the Blue Rock Gallery located in Black Diamond, Mr. Nemr is well experienced in retail and tourism marketing. He is an active member of the “Most Beautiful Art Tour of Alberta”, a collaborative group of art galleries and artists working together to draw large numbers of visitors to the communities over several tour dates.
David Farran: Founder and president of Eau Claire Distillery, Mr. Farran possesses a MBA, he is a former vice-president of Big Rock Brewery and the founder of Pipestone Travel Outfitters, a leading adventure travel packager and travel gear. He has extensive experience in growing and managing businesses, international marketing and finance.
Mark Muller: Owner and operator of the Country Food Mart for over 30 years, Mr. Muller is clearly experienced in the needs and opportunities of the region. He is a successful business owner well-versed in the local economy and is a strong supporter of community organizations.
Matthew Wagstaff: IEC Vice-Chair. Mr. Wagstaff is a co-owner of Rona in Black Diamond, and possesses extensive sales, financial and marketing skills. He is experienced in working with a variety of organizations and stakeholders to plan, develop and complete community projects.
- Develop 3-year Intermunicipal EDC services agreement
- Establish Intermunicipal EDC (develop bylaw/terms of reference)
- Consolidate BD and TV economic development plans (development of IED strategy)
- Develop and implement marketing strategy
Administration and Funding
- 3-year shared services agreement completed
- $26,000 CARES grant funding secured; matching funds from Black Diamond and Turner Valley to complete inter-municipal economic development strategy and marketing plan; budget request for 2020 is $50,000 each
- IED Bylaw and Terms of Reference established
- In consultation and collaboration with Black Diamond, Turner Valley will act as the fiscal agent and administrative lead until the completion of the Community and Regional Economic Support
- Agreement to share future tax and business-related revenues and expenses to be developed
Current Project Activities
- Prioritization of strategy recommendations
- Development of inter-municipal economic development marketing strategy
- Secure 2020 IED project funding
- 2019 Project assessment – report to Council, January 2020
- Completion of CARES grant final report
- Prepare and present 2020-2022 implementation plan
- Develop draft shared revenue and expense agreement
- Implement strategy priorities; coordinated economic development initiatives and joint economic marketing plan
Town of Black Diamond