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Economic Development

#3 Economic Development

Economic development is a complex, multifaceted process. There are many definitions of economic development, but none that encompasses all of the various aspects of the profession. 

There is no one single policy, process or template for achieving a strong economy, as each community or region has various strengths and areas of needed improvement. 

Economic development is a process that influences the growth and wellbeing of a community through a variety of different means, such as business retention and expansion, industry attraction, improved tax base and a reasonable quality of life. 

There are a wide variety of strategies and initiatives that ensure a healthy economy in communities. Allowing small businesses to grow, attraction of an industry and retaining existing opportunities, securing access to capital, and marketing and communications are just some of the facets to enhance and sustain the economy in a community.

For more information on our current economic status please visit the following links:

Key Action Items

1.    Land planning.

2.    Investment and industry attraction.

3.    Implementation of a business retention and expansion program.

4.    Creation of an economic transitioning strategy.

5.    Continuous collaboration for regional economic development.

How Far Have We Come?

Memorandum of Understanding (KAI 5)

On October 2019 a Memorandum of Understanding (MOU) was signed between The City of Flin Flon, The Town of Creighton, and the Village of Denare Beach. This MOU is an agreement that ensures all three communities will be working together on matters of economic development.  

MOU Signing October 2019