EDA News Centre

Opportunities for Co-ops in Alberta

By: Kyle White, Director of Education Co-operatives First

As an economic development officer, you’re always looking for opportunities to enhance the quality of life in your community. In Alberta, some of those solutions are right under your nose. As a local solution created by local people, co-ops are becoming a popular way to fill services gaps and boost economic development strategies.

Recently, for example, the Innisfail Economic Development team included targets in its strategic plan that included facilitating the creation of new co-ops to support broader economic development. 

Alberta has a long history of co-operation, and the province is home to co-ops not commonly found elsewhere in Canada. This includes many utility co-operatives like Rural Electrification Associations (REAs) that power small towns, natural gas co-ops that provide home heating, and rural water co-ops that support small agricultural communities. Alberta is also home to 70 housing co-ops, 75 retail co-ops, and over 80 co-ops operating in primary industries like agriculture, fishing, and oil and gas. And these co-operatives mean business. In 2021, Alberta’s co-ops employed over 12,000 people and generated over $7 billion in sales. 

Most exciting is there’s even more opportunity for new co-ops in Alberta. In particular, three kinds of co-ops are gaining traction in the province. 

Housing Co-operatives 

Housing co-operatives offer an alternative to renting and home ownership. They provide affordable homes to the co-op’s tenant members who collectively own the property. Studies show that rents in housing co-ops are as much as $400 lower than market rates. That’s because co-ops prioritize affordability and are eligible for government funding. 

In spring 2024, CMHC introduced the Co-op Housing Development Program, which offers $1.5 billion to support the creation of new housing co-operatives. The announcement sparked a wave of interest in this model for affordable housing and in Edmonton and Calgary, Co-operatives First helped create the first Alberta housing co-ops in over 20 years. If your community is struggling to build more rentals or needs to invest in affordable housing, consider starting a housing co-op. 

Childcare Co-ops

According to the Government of Canada, parents in Alberta pay the highest childcare fees in Canada: $10,330. And there aren’t enough childcare spaces to meet demand.

Fortunately, the in partnership with the Government of Alberta, the federal government is supporting a $10-a-day childcare program with funds to build more childcare centres and subsidize their operations. As an economic developer, it might be up to you to help move this conversation forward. Municipalities, large employers, and community groups often invest time and money in the creation of a new childcare co-op that can support parents. Co-operatives First can help as well, with our supports for childcare co-ops. 

Opportunity Development Co-operatives

When looking at your economic development projects, you might ask “how are we going to pay for this?” Why not look to the assets already in your community? Many folks in small towns have financial assets invested in RRSPs and TFSAs that can be directed back into your local economy with the help of an Opportunity Development Co-op. 

This model allows community members to invest in a locally managed fund that can support local projects through loans or investments. Investment co-ops in Alberta have invested in entrepreneurs, construction of new homes, and renewable energy. If everyone in your town invested $1,000 in local economic development, imagine how much you could accomplish. 

Learn More

If you’re interest in learning more about co-ops and how your community could benefit from them, you’re in luck. Co-operatives First recently teamed up with Economic Developers Alberta to create the Co-operatives and Economic Development course for the EDA Institute. Sign up for this exciting professional development opportunity to learn how you can work with co-operatives to support your town and what role you can play in starting new community-owned co-ops.

Why Performance Measurement is Critical in Economic Development (And How EDA Can Help You Master It)

Have you ever trained for a competition? 

You didn’t just show up on the day and hope for the best. You tracked your progress - every sprint is timed; every rep is counted- because what gets measured gets managed. Without those metrics, how would you know if you're improving? Or ready for the big event? 

The same principle applies to economic development. Measuring our efforts is like tracking an athlete's performance: it helps us evaluate impact, stay on course to meet goals, and demonstrate results to stakeholders, funding agencies, and the public.

As an economic developer, you’re tasked with creating positive change in your community and its easy to get caught up in the details of launching a new project. But without a systematic way to assess, manage, and improve, you risk investing resources in strategies that fall short. 

How EDA Can Help:

Performance measurement is a game-changer for economic development and that’s why we’ve developed the Performance Measurement in Economic Development course at the EDA Institute.

Here’s what you’ll learn:

• Community Economic Development (CED): Understand how performance measurement fits into the bigger picture.
• Performance Management vs. Performance Measurement: Learn the difference
• The SOME Framework: A practical tool for effective measurement in your community.
• SMARTER Goals: Set objectives that are Specific, Measurable, Achievable, Relevant, Time-bound, Evaluated, and Reviewed.
• Using the Logic Model: Apply this tool to track progress and measure outcomes.
• Selecting Performance Metrics: Choose metrics that reflect your community’s needs and goals.

We’ll also show you effective methods to share your success with stakeholders.

In economic development, the stakes can be high. Communities, businesses, and individuals rely on your work. Without clear metrics, it’s like playing a game without a playbook—you might score eventually, but it’ll be far less strategic and you may not win in the end.

So, are you ready to take control of your initiatives and prove their value? The Performance Measurement in Economic Development course at the EDA Institute will give you everything you need to succeed. 

Enroll today

Imagine this:

You walk into a boardroom and around the table is a group of potential investors or town councillors. 

They’re waiting for your presentation…… 

You can feel the weight of expectations—this is your moment to convey the value of your community or secure support for the economic development project that will benefit your area.

You know that feeling—your heart races as you think, “can I really deliver all the insights I need to make a compelling argument? Do I have all the information to back-up my ideas?”

It’s not just about presenting facts; it’s about convincing them to believe in your vision and see the potential you see.

To do that effectively, you need to draw on a deep well of knowledge and insights. You must be ready to address their questions and counter their doubts. Every statistic, every trend, and every success story must come together to create a narrative that resonates with them.

This is where the EDA Institute comes in.

Our comprehensive suite of training opportunities is designed to advance your expertise in community economic development. 

We understand the unique challenges you face, which is why we offer a range of courses and learning platforms. Our curriculum, crafted by industry experts, focuses on real-world applications, ensuring you can apply what you learn immediately.

Did you know that a survey by the International Economic Development Council (IEDC) found that 83% of economic development professionals believe continuous professional development is critical for their effectiveness?

As you prepare for your next important meeting, consider how investing in your growth at the EDA Institute can elevate your skills. 

By enhancing your expertise, you not only boost your own effectiveness but also contribute to the success of your community!

It's a win-win!

Learn more about our courses and register here:  https://www.edaalberta.ca/training

You are invited to join us to learn more about the Northern and Regional Economic Development (NRED) Program. 

NRED funds initiatives led by Alberta municipalities, Indigenous communities and non-profit organizations that promote regional economic development and diversification.

During these sessions, we will provide information about NRED, which is accepting applications for its third intake from September 16, 2024 to December 6, 2024.

Details about the program, including the Program Guidelines, Application Companion Guide, and the link to the Online Application Portal can also be found on the Northern and Regional Economic Development Program webpage.

A list of  currently planned sessions is as follows:

*Right click on the session that works for you and copy the hyperlink into your calendar.

Thursday, October 10, 2024 – 10:00 a.m. to 11:00 a.m. -Click here to join the October 10 meeting 

Tuesday, October 15, 2024 – 1:30 p.m. to 2:30 p.m. - Click here to join the October 15 meeting 

Wednesday, October 23, 2024 – 10:00 a.m. to 11:00 a.m. -  Click here to join the October 23 meeting 

  

As part of our commitment to support communities in their recovery from the 2024 Alberta Wildfires, we are pleased to share important information from the Canadian Red Cross.

The Canadian Red Cross has launched the Support to Small Businesses and Not-for-Profits Program. 

This program, thanks to the generosity of donors as well as matching funds from the Government of Alberta, provides financial assistance to eligible small businesses and not-for-profit organizations that experienced impacts due to the 2024 Alberta Wildfires that led to the evacuation of Jasper National Park and the closure of Highway 16.   

Small businesses and not-for-profits located in Jasper National Park, including the town of Jasper and businesses located along Highway 16 that were completely closed may be eligible to receive $2,000 in financial assistance. 

Additionally, small businesses and not-for-profits located in Hinton and communities along Highway 16, up to the Alberta/BC border (including Valemount, BC), that were not evacuated, were able to continue operating but have experienced some impact due to the wildfires, may be eligible for $1,000 in financial assistance. 

Applications are now open and will be accepted until December 13, 2024. 

Full program details, including eligibility criteria and application instructions, are available at:

 www.redcross.ca/albertawildfires/smallbusiness 

EDA has a longstanding history of working with the Canadian Red Cross to support communities in their recovery from disasters. 

Since 2013, our Economic Disaster Recovery Program has provided critical assistance to help local economies rebuild and thrive after major events.

Our most recent collaboration also includes key government partners, and EDA members in the Jasper, Hinton, Edson, Yellowhead County region to support regional business and economic recovery efforts.  

Our Business Recovery Survey is designed to gather essential feedback from businesses to guide recovery efforts and ensure support reaches those who need it most.

Are you attending the EDAC Conference in Edmonton? If so, we have an exclusive opportunity that fits right into your schedule!

Join us in Edmonton for an interactive session with Invest Alberta.

Learn about the organization’s priorities and contribute to the conversation on how we can coordinate and collaborate to make Alberta a top destination of choice for investment in North America.

Invest Alberta Stakeholder Roundtable: A Team Alberta Approach

Date: Wednesday, October 2

Time: 2:30 - 4:00 PM 

Location: 3rd floor Edmonton Tower, 10111-104 AVE. NW, Edmonton

Register

EDA members have the first opportunity to register for this event before we open it to the public on September 1. Space is limited, so secure your spot now!

Log in with your EDA user email and password to access your FREE registration. 

This event has been planned with the EDAC Conference in mind, ensuring there’s no conflict, so you can take full advantage of both.

Recent wildfires have deeply impacted businesses across the Jasper region, including Jasper, Edson, Hinton, and Yellowhead County.

As part of our commitment to supporting economic recovery, Economic Developers Alberta (EDA) is taking a leadership role together with Community Futures West Yellowhead, Prairies Economic Development Canada, Cando, and the Canadian Red Cross. 

A key part of this effort is a survey designed to assess the impacts on local businesses, helping us to develop policies and programs that address both immediate needs and long-term challenges. 

Recovery is more than a short-term response—it’s an ongoing process that requires input from those directly affected. Their insights are crucial to shaping the support needed to rebuild and thrive.

 If you know of a business that has been impacted, please share this survey link. This valuable input will significantly contribute to shaping a more resilient business environment and a dynamic economic future in the areas impacted by wildfires. 

Wildfire Survey 

To help your community prepare for economic disruptions such as wildfires, plan to take our Community Economic Resilience Course.

This is a core course in our Community Economic Development Training Program (CEDTP) and is delivered in an asynchronous (self-directed) learning format at the EDA Institute.

You can also arrange for an in-person course.  

EDA Members are also eligible for scholarships from our Professional Development Fund. 

Don’t miss out on this exclusive opportunity!

As an EDA member, you have the chance to reserve one of the last remaining spots for the 2024 Annual EDA Ministry Dinner before they’re gone. Act now, as registration opens to non-members on September 1.

To secure your spot and receive the discounted member pricing, make sure you’re logged in to the EDA website with your member email and password.

2024 Annual EDA Ministry Dinner

Thursday, October 24, 2024 

Reception begins at 5:00 PM followed by dinner at 6:00 PM

Coast Edmonton Plaza Hotel by APA, 10155 105 Street NW, Edmonton, AB

Register

The Ministry Dinner offers delegates the chance to engage in meaningful one-on-one conversations with federal and provincial Ministers and senior leadership.

The dynamic format, where government officials rotate between tables during the meal, enhances networking and allows delegates to ask questions, share ideas, and explore potential partnerships.

This event sells-out every year. 

To celebrate EDA's 50th Anniversary, please feel free to wear Gold attire. 

Delegates should also plan to attend the pre-event cocktail reception with GOA/GOC program staff beginning at 5:00 PM.

If you require accommodation in Edmonton, please refer to the information contained in the event registration confirmation email.

Our Gold Partner is the County of Grande Prairie. The 2024 EDA Ministry Dinner is also supported by the Government of Alberta.

The Government of Alberta's international offices play a crucial role in advancing a wide range of governmental objectives and priorities.

They offer support to various Alberta businesses and organizations in endeavors such as promoting trade, advocating for Alberta's interests, attracting talent, and facilitating investment in the province.

William Wang, Director of the Alberta China Offices, wants to remind EDA members that these offices are committed to promoting Alberta’s products and services, building connections between Alberta companies and Chinese buyers, and helping Chinese firms explore investment opportunities in Alberta.

They support entry into sectors like energy, agriculture, cleantech, life sciences, and more. The Alberta China Offices also assist with trade promotion events, market intelligence, and business leads.

If you're exploring expansion into China, William is ready to connect and offer his support.

Phone: 1-780-850-3894

Will.Wang@gov.ab.ca

Join us for our next free Wednesday Webinar on August 7 from NOON-1:00 PM.

ATCO Gas & Pipelines will be sharing more details about their Yellowhead Mainline Project. 

A few project highlights:

• $2.1B capital investment
• Pipeline construction will generate approximately 2000 jobs
• The proposed pipeline will significantly increase the resiliency of our provincial energy system, ensuring more reliable service across Alberta
• Upon completion, it will be a catalyst for further economic development and investment.

To register, click the button below.

Register