Valleyview Economic Development Strategy
In 2017, the Town of Valleyview partnered with Modus and Urban Systems to begin the journey of developing an economic growth strategy for our town and region.
The research was done by our partners and a group of Advisory Committee Members and Stakeholders was put together to get input from different facets of business, industry and government. A two-day-long workshop was held to hash out ideas and come up with a plan. After much deliberation and feedback, the Valleyview Economic Development Strategy was created and passed by Council in late 2017.
As taken from the Valleyview Economic Development Strategy:
Valleyview maintains a relatively diverse economy, having a role as a regional administrative and commercial centre and significant activity in four other primary sectors: oil and gas; agriculture; tourism; and retail. However, changing international market trends threaten the future stability of these sectors, and consequently the economic prosperity of the town. In the past ten years, Valleyview has experienced a decline in economic growth and activity locally and regionally. This has affected the community in a number of ways: an increase in unemployment and under-employment decreased family income levels and a decrease in the local tax base due to a loss of businesses and families moving to seek economic opportunities outside of the region. In this context, economic diversification is critical for the community’s success.
In this context, Valleyview has developed an economic development strategy that builds upon the economic journey of the community, drawing upon the knowledge and experience of the community to better position the local economy in relation to current and anticipated market trends. The Strategy is a critical step forward in terms of the town’s long-term economic resiliency and success.
The Valleyview Economic Development Strategy (‘the Strategy’) was developed with guidance from a volunteer Advisory Committee, advice and information from members of the community and local, regional and provincial experts, and further supported by research and expert interviews. The goal of the Strategy is to identify viable local opportunities that build on community assets and local opportunities and strengthen relationships that support long-term success. With the leadership and support of the Valleyview Community, Town Council and other regional governments, the implementation of the Strategy have the potential to:
- Improve the local business environment and increase regional economic collaboration;
- Increase support for entrepreneurs and small and medium-sized enterprises in the region (with a primary focus upon Valleyview) to grow, optimize and succeed;
- Enhance support for businesses and industries that provide diversification to Valleyview and the region;
- Increase community resiliency through self-determination; and
- Increase investment both locally and regionally drives high-value job creation.
This report describes the context for and process of developing the Strategy, then outlines the Strategy for driving economic development overall and in key opportunity areas, and provides a high-level action plan to initiate and guide future strategic economic development in Valleyview and the area.