Tourism Kelowna and the Central Okanagan Economic Development Commission (COEDC) have signed an agreement to promote more economic growth in local communities.
The memorandum of understanding (MOU) will focus on bringing more agriculture, aerospace and digital technology investments to the Central Okanagan, according to both parties.
To help advance the MOU, Tourism Kelowna president Lisanne Ballantyne said both parties are sharing financial resources to spur local economic growth.
“When we recognized our shared mandates, targets, and messaging it made strategic sense to combine our budgets and expertise with COEDC,” said Ballantyne.
“Together we can now access new grants and federal promotion partners so suddenly an investment amount grows to generate a much larger reach than we could have achieved on our own.”
The two parties have said they will also work with Accelerate Okanagan to promote regional business more through marketing initiatives.
Tourism alone provides 12,000 jobs and $142 million in tax revenue to the Central Okanagan annually, according to Tourism Kelowna.