On August 24, 2010, at their regular council meeting, Council adopted a new economic development strategic plan, titled Seizing Opportunity. The plan is intended to give longer term direction to the City’s economic vision and, ultimately, provide an economic development roadmap for business, industry, residents and potential investors. At the same time, Council approved a new terms of reference for the Economic Development Board.
The strategy balances the need for sustainable economic development, social responsibility and sound environmental stewardship (as reflected in the City’s Community Sustainability Plan). The goal is to maintain and enhance the high quality of
life that Fort Saskatchewan residents have come to expect which, in turn, remains one of the City’s key locational advantages.
Strategy Overview:
The strategy focuses on the following four areas:
1) Business Retention and Growth Strategies
2) New Business Attraction Opportunities (New Jobs and Investment)
3) Future Directions in Business/Industrial Strategy
4) Organizing to Compete and Succeed
Within these four themes, seven economic/industrial clusters have been identified as having significant growth potential for Fort Saskatchewan over the next decade:
- Hydrocarbon processing
- Light and medium industrial and related service and supply operations
- Eco-industrial manufacturing, services and technology development
- Retail, commercial and hospitality services
- Office development
- Tourism and entertainment
- Small business and entrepreneurship