Cohesion, readiness called keys to investment success

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This article was published 30/11/2023 (1018 days ago), so information in it may no longer be current.

There is need a for collaborative efforts and community readiness among economic developers from various sectors and communities across Manitoba to drive investment, a provincial trade official said at the Association of Manitoba Municipalities convention in the Keystone Centre on Wednesday.

Manitoba Trade and Export Development director Maurice Alexander told the Sun that it is important to foster collaboration among economic developers, stressing the need for seamless interaction not only among various economic development entities but also among governmental bodies at municipal, provincial and federal levels.

“We actually have infrastructure set up now specifically to support communities, specifically to support businesses for economic development, Alexander said. “We need to make sure that our companies are ready to compete globally on the export side, and that our communities are ready to absorb investment once it arrives.”

Transparent and open communication channels, he said, facilitate a better understanding of available resources, shared insights, and the identification of common objectives. By working collectively, he added, these entities can bridge the gap between the resources offered and the specific needs of local communities and businesses.

Alexander highlighted the importance of collaboration in creating a cohesive strategy to promote Manitoba’s economic potential both domestically and internationally. By pooling resources, sharing expertise and aligning efforts, Alexander said these collaborative initiatives aim to amplify Manitoba’s presence on the global stage, attracting investors and businesses while concurrently supporting the growth of local industries and sectors.

One pressing issue Alexander highlighted was Manitoba’s limited visibility on the global stage.

“We need to amplify our positive narrative globally,” he told the Sun. “It’s crucial for us to strategically position ourselves in international markets, despite budget constraints, to showcase the offerings Manitoba has for investors and businesses.”

Other panellists at the AMM session, dubbed “Attracting Investment and Growing Local Communities,” were Community Futures West Interlake general manager Lana Cowling-Mason and Manitoba & Saskatchewan Regional Office senior trade commissioner Alexandre Cote.

Cowling-Mason said community readiness plays a pivotal role in attracting and effectively utilizing investments. Meticulous planning within communities, she said, is a necessity to determine land-use capabilities and infrastructure requirements.

“Communities must identify their strengths, ensuring that the investments they seek align with their assets and bolster local advantages,” she told the Sun.

Cowling-Mason emphasized the significance of nurturing existing local businesses alongside attracting external investments. “Our focus shouldn’t solely be on external sources,” she said, “but also on supporting and fostering the growth of our existing local businesses, as they are vital contributors to our community’s economic health and prosperity.”

Community readiness, she said, should not be limited to attracting investments but about empowering communities to strategically embrace opportunities that align with their unique strengths.

Cote called for concerted efforts to promote Manitoba in a unified manner.

“Manitoba occupies its distinctive position within the market,” he said. “It’s not solely about enhancing capacity; it’s equally crucial to establish a notable presence overseas. The global landscape demands greater visibility from Team Toba due to prevailing unfamiliarity.”

Collaboration with strategic partners such as the Trade Commissioner Service remains pivotal, he said, adding that the collective willingness across sectors is indispensable — otherwise, the absence of international visibility may deter potential interest.

AMM president Kam Blight, who was the moderator of the session, emphasized the importance of understanding infrastructure needs and fostering collaboration between municipalities and the provincial government to streamline investment attraction efforts.

“For our members, hearing insights from three different agencies on opportunities and tools is incredibly vital,” he said. “It’s crucial for municipalities to conduct self-assessments and collaborate with Manitoba to understand their investment needs.”

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