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Posted on: February 25, 2020

TEN-YEAR BUSINESS DEVELOPMENT STRATEGY APPROVED

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Town Council showed their commitment to local business development and innovation by approving the 2020-30 Business Development Strategic Plan at their meeting Monday.

The plan outlines four main business development strategies:

  1. Proactively promote the innovation sector in the Town of Cochrane.
  2. Proactively strengthen relationships with existing businesses groups, companies and major developers in Cochrane.
  3. Proactively plan and implement initiatives to enhance Historic Downtown Cochrane.
  4. Provide consultation and support for other Town initiatives, projects and processes that enhance Cochrane’s economic ecosystem.

Mayor Jeff Genung says it takes innovation to attract more innovation — something he’d like to see grow in Cochrane. “I’m pleased to see the level of detail in this plan,” he says. “It speaks specifically to the ways we’re going to attract more innovative businesses to our community — which is good for the local economy and good for the community — in addition to supporting existing business and continuing to grow our historic and new downtown.”

The plan was developed by the Business Development team over the last year using workshops, surveys and a variety of public and business engagement.

Cochrane’s Business Development manager, Mike Korman, says it’s important to connect resources, networks and opportunities. “Just as important however, is providing the right place to accelerate innovation,” he says. “We can create public spaces and buildings in Cochrane that inspire great ideas and attract the right talent to live, work and play here.”

The plan also contains Cochrane’s Business Development vision:

To support and cultivate an innovation-based economic ecosystem in all facets of the economy through stakeholder interactions, placemaking and process improvement resulting in diverse, creative and prosperous employment opportunities for all Cochranites.

The four strategies will be achieved through annual projects over the next 10 years, such as developing entrepreneurship programs, supporting a manufacturing co-working incubator and launching a downtown storefront improvement program, in addition to developing Cochrane’s new Innovation Centre.

The plan also includes key performance indicators and timelines.

Ssee the detailed plan
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