Today, Council accepted the recommendations of the Ad Hoc Economic Development Committee to adopt an arm’s length governance model for economic development in Red Deer.
This decision comes after the Ad Hoc Economic Development Committee presented “Red Deer’s Future Economic Development Strategy and Governance Model” and related recommendations. The Committee was formed in September 2024 to consider a new economic development model for Red Deer aimed at fostering a thriving, diverse, and competitive business environment.
“I want to thank the Committee for their thoughtful work and dedication to advancing economic growth in Red Deer,” said Mayor Ken Johnston. “Their recommendations provide a clear path forward and lay the groundwork for transforming how we approach economic development in our community, which undoubtedly will help us build a stronger, more resilient local economy.”
Since its inception, the Committee – made up of community and business leaders from various sectors – has been working to identify what governance model will best serve the needs of Red Deer. This work included a thorough review of municipal best practices and foundational theories, which helped the Committee identify key principles and conditions for success.
Based on this work, the Committee recommended an arm’s length approach to economic development in Red Deer and requested an extension of the Ad Hoc Economic Development Committee to January 30, 2026 to begin the planning and implementation work for the new economic development organization. The Committee also presented a new Terms of Reference for this extension.
Council passed a resolution that will see the Committee continue this work, with the core mandate of establishing the new arm’s length organization and stewarding economic development for Red Deer. This work will include the development of a business plan, including a budget and economic strategy by January 30, 2026.