Sustainable economic growth and a competitive economy are key priority areas the Central Okanagan Economic Development Commission (COEDC) wants to tackle in its five-year economic action plan.
The commission released a three-page strategic plan on Wednesday, which focused on the Okanagan’s key economic sectors such as agriculture, aerospace, health care, film and information technology spaces.
When it comes to agriculture, the commission stated more investments had to be made locally to help grow the industry in the Okanagan.
“(We need to) foster excellence in agriculture production, food processing, experiential and value-added offerings in the region to support development along the entire supply chain from production to consumption,” said the report.
The report also claimed re-branding will help to grow the health-care sector in the Okanagan at a regional level.
“We need to support health-focused ventures with business development services, connections and collaborations through the public health care system… and promote the region as the Health Care Hub of the Interior.”
To help with sustainable economic growth, the report outlined investment attraction, business retention and more regional business partnerships to help grow the five major economic sectors in the Okanagan.
COEDC economic development coordinator Corie Griffiths said the region’s diverse economic sectors outlined in the plan are an added benefit to help grow the regional economy.
“With extensive stakeholder consultation and business community input, it will set the course for the Economic Development Commission’s work over the coming five years,” said Griffiths