The Ad Hoc Economic Development Committee provided an update to City Council, outlining its initial findings and early recommendations on how Red Deer should organize and lead its economic development efforts in the future. This update marks a significant milestone in the Committee’s work, which will culminate in a final report to Council in June 2025.
Established in December 2024, the Committee was tasked with assessing and recommending a renewed economic development model for the city. Since then, members have engaged in a comprehensive research and evaluation process to determine the structure best suited to support long-term economic growth in Red Deer.
“This work is important—economic development is a priority, and how we organize ourselves to lead it matters,” said Mike Olesen, General Manager of Growth and Finance. “The Committee has taken a thoughtful, disciplined approach grounded in evidence, best practices, and our local context to ensure their recommendations are well-informed and future-focused,” said Olesen.
The Committee’s work has included a deep dive into foundational theories of economic development, global best practices, and a detailed review of Red Deer’s own economic context. Through this work, the Committee identified ten core factors—such as governance, leadership, innovation, and stakeholder engagement—that it believes are critical to building an effective and sustainable model.
Using these factors, an evaluation matrix was developed to assess two potential organizational models: keeping economic development services within The City’s administration and establishing an external, arm’s-length organization.
While the Committee’s final recommendations will be delivered in June, its current consensus is leaning toward the establishment of an arm’s-length organization to lead Red Deer’s economic development activities.
“This process has been both thorough and forward-looking,” said Peter Lacey, Chair of the Ad Hoc Economic Development Committee. “The Committee has focused on what structure will serve our community best—not just for today, but for years to come. We believe the right model will provide the space for innovation and agility, while still staying connected to the municipality,” said Lacey.
The Committee’s next step is to engage with industry stakeholders and the community to share key findings, validate its direction, and gather feedback to help shape the final recommendations, which will be delivered to Council in June. An open house will be held May 6, 2-4 p.m. in the Harvest Centre at Westerner Park.