The International Economic Development Council (IEDC) honoured the Town of Cochrane, ATB Financial and Cochrane Monetary Foundation with a Silver Excellence in Economic Development Award for its Cochrane Dollar initiative. The project won in the category of Innovation Programs and Initiatives.
The Cochrane Dollar is a local paper currency that inspires local shopping, stimulates the local economy, supports local businesses and jobs by keeping spending in our community. It also encourages people from other communities to shop in Cochrane.
“This is a tremendous honour for Cochrane,” said Cochrane Economic Development Manager Mike Korman. “We’re passionate about supporting our business community and are thrilled to be recognized internationally for our efforts toward strengthening local business and supporting local job creation.”
The Cochrane Dollar initiative, launched in 2017, is a partnership between Town of Cochrane Economic Development, ATB Financial (Cochrane branch) and the Cochrane Monetary Foundation (a non-profit group of local small business people). The project received grant funding from the Alberta Economic Development Community and Regional Economic Support (CARES) program.
Today there are over 100 local businesses actively engaged in accepting and circulating the dollars. This is the third time the Town’s shop local campaign has been recognized by the Economic Development community.
IEDC’s Excellence in Economic Development Awards recognize the world’s best economic development programs and partnerships, marketing materials and the year’s most influential leaders. Thirty-four award categories honour organizations and individuals for their efforts in creating positive change in urban, suburban and rural communities. Awards are judged by a diverse panel of economic and community developers from around the world, following a nomination process held earlier this year. IEDC received over 400 submissions from 12 countries.
More about the IEDC Excellence in Economic Development Awards: www.iedcevents.org