Town of Cochrane Strategic Plan – Final Report October 2014
An Economic Development Officer will add capacity to the town’s Municipal management by
providing a resource focused on economic and community development.
Potential Community Leaders
The Town of Cochrane.
It may also be possible to work with the Economic Development offices in Timmins and
Kapuskasing to arrange for mentoring opportunities.
Potential Funding Sources
• Municipal operational funds.
• Youth Internship Program, page 98.
There are two options for funding this project.
The first is to fund the new position out of the
Town’s current operational fund. Expect to
allocate between $42K-$55K for this position for
a candidate with some community economic
development experience.
The second option utilizes the Youth Internship
Program available through the Northern Ontario
Heritage Fund Corporation and FedNor. The
municipality would be eligible for a contribution
of up to 90 percent of a recent graduate’s salary
to a maximum contribution of $31,500. It could
recruit an individual with an Economic
Development designation as long as he or she
has graduated within the last three years. This
would allow the municipality to pay just $3,500
over the course the year, not including overhead,
equipment and operating expenses such as travel,
training and networking. However, it may be
difficult to recruit or retain someone at the $35K
salary level, and many organizations use the
NOHFC contribution as a base, and “top up” the
salary to the $40K range. This still saves
significant money for the municipality, increases
the chance of recruiting a good candidate, and
improves the likelihood that the individual will
stay for the entire year. Over the course of the
year, the municipality can then explore how it
Economic
Gardening
refers
to
development activities that support a
more entrepreneurial local business
culture. It focuses on providing supports
that increase the competitive advantage
and marketing skills of local companies,
especially those with specialized skills
and high value-added goods and
services.
The concept originated in the Littleton,
Colorado
Economic
Development
Department in the late 1980’s. After
adopting the strategy in 1989, the
number of jobs in Littleton increased from
15,000 to 35,000, business sales tripled
to $20 million, and the population grew
by 30%.
This approach involves actively engaging
local businesses to help them grow and
prosper. In most cases, the community
economic development officer (EDO) and
team helps firms learn how to better
market themselves, and how to adapt to
changing environments. The EDO may
also provide in-depth market research
and advice on business growth
strategies, and facilitates training on best
practices and business innovations.
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