The mayors of Prescott and Russell have to decide whether or not renewing the regional economic development strategy is worthwhile.
A delegation of officials from the Société de développement communautaire de Prescott and/et Russell Community Development Corporation (SDCPRCDC) presented the United Counties of Prescott and Russell council (UCPR) on August 26 with an updated progress report on the current five-year regional Economic Development Strategy and Action Plan (EDSAP) along with a proposal for renewing the strategy and expanding it to meet the future economic challenges for the Prescott and Russell region.
“As we all know, strategic and sustainable and sustained investment is essential,” said John Candie, PRCDC executive director, “in creating jobs, attracting new businesses, supporting local businesses, strengthening existing businesses, and improving the overall quality of life for residents.”
The current regional economic development action plan covers the period between 2024 to 2029.
During that time the PRCDC has developed a brand marketing strategy, with a supporting information website, to promote commercial class and industrial class properties in the region available for interested developers, set up a concierge service to coordinate support requests from businesses and investors, developed programs and projects to support regional and local tourism sectors development and promotion, worked with local businesses on promoting work-based training programs to recruit skilled labour, worked with local school districts and other education institutions to align post-secondary study and training programs with local employment needs.
The PRCDC has also worked on other programs and projects related to economic development.
The regional economic development agency wants UCPR council to consider renewing the economic development strategy and action plan before it reaches the end of its current five-year term and also agree to revisions to both the existing and future strategic plan that will focus on several new priorities that the PRCDC considers essential for the region.
“This will help our region remain competitive,” said Candie, adding that the strategy revisions will allow Prescott and Russell “to respond to changing and challenging economic conditions, build a stronger and more diversified local economy, and create long-term opportunities for future generations.”
Some of the proposed revisions to the economic development action plan include creating an “aerospace and defence technology hub” involving local high-tech sector firms that, according to the revised strategy report, would provide Prescott and Russell “integrate into the rapidly growing Mirabel aerospace hub and Canada’s defence supply chain.”
Another key part of the revised economic action plan involves transforming the Destination Prescott and Russell tourism promotion project into a destination marketing program that will “strengthen the region’s economy, tourism sector, and long-term competitiveness.”
Other revisions include further strengthening of the Prescott and Russell marketing brand strategy to help counter the local and regional impact of the current and future U.S. tariffs against a variety of Canadian export sectors. The goal is to support local businesses while attracting new investment into the region, including those that are looking at other markets besides the United States.
“These (U.S. tariff) disruptions have highlighted the vulnerability of rural areas like ours,” stated the action plan report, “which have historically relied on cross-border markets and supply chains.”
Increased support and development of Prescott and Russell’s agricultural and agribusiness sectors is another key point in the revised strategic development plan proposal.
“A renewed economic development strategy is an investment in the region’s ability to anticipate change,” said Candie, “diversify the economic base, and capitalize on new emerging opportunities.”
UCPR council voted to receive and approve the updated report on the economic development strategic action plan, along with the latest quarterly reports on its achievements and to further review both the action plan and the PRCDC proposal for renewal of the current plan before the end of its current term.
