Independent Businesses (Lone Eagles): Lone Eagles are small business operators who generate 75% or more of their income from outside the local area. As such, they are significantly mobile and can live wherever they want. Many of them are fleeing large urban environments and seeking better places to live. They are found in all business industries, but many of them are concentrated in professional, scientific and technical services, construction and real estate. Growth in the number of Lone Eagles complements the of attracting a larger population base. city’s goals However, at the same time, they build a sense of community because they locate their businesses locally as well, searching out small commercial spaces and entrepreneur social networks. Economic Development Services Delivery Economic development programs are meant to increase wealth in the community so initiatives should be directed to export development (primarily; by bringing new money into the community) and improving import substitution (secondarily; by keeping money circulating in the community longer). In order to identify whether or not there are gaps in economic development services delivery, the report examined the core responsibilities of all organizations in the Leduc area that have a role to play in economic development. Complicating matters is the fact the City of Leduc operates in a multi-jurisdictional environment with the Leduc-Nisku Economic Development Authority and Greater Edmonton Economic Development Team. As such, the consulting team examines how other municipalities perceive their roles within this same structure. Following this discussion, the following recommendations are presented for the City of consideration. Leduc’s Based on the importance that community and business leaders are placing on increasing tax assessment and job growth, the City should not ignore the role it can play in improving the situation. This is not to say that the existence of a Leduc economic development office would guarantee these results. However, an adequately funded and professionally-staffed economic development office would be Leduc`s best bet to deliver increased economic growth. Implemented properly, the introduction of a city-level economic development office can help Leduc-Nisku EDA initiatives to be more successful while taking local grassroots initiatives to new heights. Overall, there are plenty of opportunities for growth and existing barriers to economic growth that warrant a proactive economic development effort. The economic development function should not duplicate existing economic City’s development functions. As described below it will complement existing City responsibilities and the work of other economic development stakeholders that are effectively delivering on their responsibilities. The following table describes existing gaps and suggested City responsibilities.
Independent Businesses (Lone Eagles): Lone Eagles are small business operators who generate 75% or more of their income from outside the local area. As such, they are significantly mobile and can live wherever they want. Many of them are fleeing large urban environments and seeking better places to live. They are found in all business industries, but many of them are concentrated in professional, scientific and technical services, construction and real estate. Growth in the number of Lone Eagles complements the city’s goals of attracting a larger population base. However, at the same time, they build a sense of community because they locate their businesses locally as well, searching out small commercial spaces and entrepreneur social networks. Economic Development Services Delivery Economic development programs are meant to increase wealth in the community so initiatives should be directed to export development (primarily; by bringing new money into the community) and improving import substitution (secondarily; by keeping money circulating in the community longer). In order to identify whether or not there are gaps in economic development services delivery, the report examined the core responsibilities of all organizations in the Leduc area that have a role to play in economic development. Complicating matters is the fact the City of Leduc operates in a multi-jurisdictional environment with the Leduc-Nisku Economic Development Authority and Greater Edmonton Economic Development Team. As such, the consulting team examines how other municipalities perceive their roles within this same structure. Following this discussion, the following recommendations are presented for the City of Leduc’s consideration. Based on the importance that community and business leaders are placing on increasing tax assessment and job growth, the City should not ignore the role it can play in improving the situation. This is not to say that the existence of a Leduc economic development office would guarantee these results. However, an adequately funded and professionally-staffed economic development office would be Leduc`s best bet to deliver increased economic growth. Implemented properly, the introduction of a city-level economic development office can help Leduc-Nisku EDA initiatives to be more successful while taking local grassroots initiatives to new heights. Overall, there are plenty of opportunities for growth and existing barriers to economic growth that warrant a proactive economic development effort. The City’s economic development function should not duplicate existing economic development functions. As described below it will complement existing City responsibilities and the work of other economic development stakeholders that are effectively delivering on their responsibilities. The following table describes existing gaps and suggested City responsibilities.