Page 17 - InvestinAlberta-EDA-2024-2

FEATURE
Business is booming — and the province is ready for more
lberta is a place that is filled with diversity — from profit groups that bring together community leaders and towering mountains to lush forests, rocky badlands regional stakeholders in order to create the best possible to golden prairies. But, no matter where you go environment for business development.
A TOUR OF
A LBERTA
in Alberta, Regional Economic Development Alliances (REDAs) are there to help promote business and stimulate the local economies. What are REDAs? They are non-
REDAs can support businesses, promote tourism and help regional leaders plan to embrace the economy of the future. Here’s a sample of what they’re doing in Alberta, right now:
REDI AT
A GLANCE
Member Communities
6
Area
82,697 km2 Population
23,591
Major Projects Value
$59 million
Number of Businesses 870
Key Industries
Agriculture, Energy, Forestry, Tourism, Transportation
Website
REDIRegion.ca
Source: Government of Alberta, REDI
2024 INVESTINALBERTA 17
REDI
Northwest Alberta is returning to rural
A TRANSFORMATIVE INITIATIVE
takes root, aiming to breathe new life into rural communities in Northwest Alberta. The Regional Economic Development Initiative (REDI) is spearheading efforts to develop tailored business cases for the region, fostering a return to rural roots and nurturing locally grown business ventures.
The REDI Region encompasses diverse landscapes and vibrant communities, and is rich in resources, yet faces the challenges of economic diversification. REDI recognizes the untapped potential within the region and is committed to charting a course for sustainable growth that aligns
with the unique needs and strengths of the local communities.
At the core of REDI’s mission
is the development of business cases that cater specifically to the area’s strengths, harnessing the power of local entrepreneurship
to stimulate economic activity.
The initiative envisions a future where rural communities become hubs of innovation, supporting and incubating businesses that create jobs and contribute to the region’s identity and resilience.
By fostering locally grown business ventures, REDI aims to create a self-sustaining ecosystem less dependent on external factors. This approach not only bolsters the local economy but also empowers residents to shape their own destinies. From agriculture to technology, REDI is exploring a
spectrum of opportunities that align with the region’s resources and community needs.
Community engagement remains a cornerstone of the initiative. Local input, expertise and aspirations are integral to shaping the strategies
that will guide the region’s economic future. REDI understands that a collaborative approach is essential for success, and involving the community at every step ensures that the vision for Northwest Alberta resonates with its entrepreneurs.
The upcoming REDI-Made Business Showcase scheduled for March 12-14, 2024, promises to be a pivotal moment for Northwest Alberta. As entrepreneurs, investors and community members converge, the showcase will spotlight a diverse array of locally grown business ventures poised to invigorate the local economy.
EMBRACE. ELEVATE. ENVISION.