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VALLEY REN: Insights on economic development in the Valley Region

Economic development has become one of the most commonly used buzzwords.

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Whether the discussion is about tariffs, affordability, labour shortages, housing, population growth, or competitiveness, conversations inevitably lead back to the economy. Despite its growing prominence in boardroom and kitchen table conversations alike, economic development still remains widely misinterpreted.

In fact, this very topic was a major discussion point at last month’s Economic Developers Association of Canada‘s (EDAC) National Conference. EDAC’s recent State of the Profession report found that nearly half of economic developers feel their roles and functions are misunderstood, even as the importance of their work continues to grow.

So, what exactly is economic development? Who is responsible for it? And how does it influence our daily lives?

These questions are especially important as communities navigate change and uncertainty. The Atlantic Economic Panel’s recent Bolder Ambitions report identified economic literacy as a key recommendation, emphasizing the need to help citizens better understand the choices that shape their communities and future prosperity. At Valley REN, we couldn’t agree more, which is just one of the many reasons we want to write this new monthly column.

At its core, economic development is about improving a community’s economic well-being and quality of life. A fairly simple and straightforward mandate? Not quite.

Valley REN earns Digital Transformation and Technology........

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