Government of Canada Awards Regional District of Central Okanagan $63,500

June 08, 2009

KELOWNA – Ron Cannan, Member of Parliament for Kelowna-Lake Country is pleased to announce that the Regional District of Central Okanagan has received Government of Canada funding in the amount of $63,500 under the Invest Canada Community Initiatives (ICCI) program.  ICCI funds up to 50 per cent of community-based programs to assist in the development and execution of local investment attraction strategies. 
 
“The Regional District of Central Okanagan works hard finding ways to attract new business to the Region and ensure its economic viability.    Given the economic challenges communities like our own are facing, it couldn’t be more important or come at a better time,” said Cannan.

The funding was awarded to the Regional District of Central Okanagan to develop a long term plan to attract Information and Communications Technology (ICT) companies, specifically in the areas of wireless, gaming and sensor technology.  Funds will also be devoted to developing targeted foreign direct investment leads and collateral materials for companies in the renewable energy technologies sector. Some of the funds will also be used for training through the Economic Developers Association of Canada economic developer course.
 
On June 3, International Trade Day, the Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway announced a total of almost $400K for community initiatives to promote international investment in British Columbia.
 
Applications for the ICCI program are evaluated according to strategy, project components, performance measures, capacity, work plan and the level of public-private sector partnership. Eligible communities can apply for funding once per year under the guidelines on the ICCI website http://www.international.gc.ca/icci-icic.
 
“The Invest Canada-Community Initiatives funding has enabled the Central Okanagan Economic Development Commission (CO EDC) to enhance its activities identified in their 2009 strategic plan in order to attract technology companies to the region,” said Robert Fine Executive Director of COEDC.  “Specifically the ICCI program has enabled us to develop a long term technology attraction strategy and activities to attract investment and jobs into the Central Okanagan,” he said.
 
Fine said the Economic Development Commission would not be able to create and implement these strategies without the continued support and recognition from this program - thus directly impacting the economic viability of the Region.