Update: EY Report on EEDC, Edmonton Global, and Tech Innovation
This afternoon, the EY report on EEDC, Edmonton Global, and Tech Innovation was presented to Edmonton City Council. The report’s recommendations were approved earlier this afternoon.
Edmonton Global supports the direction taken by Edmonton’s City Council in response to the EY report. The recommendations considered across the innovation ecosystem will breathe new life and fresh energy into this important sector. This is very positive.
Edmonton City Council is reinforcing Edmonton Global’s responsibility for international trade and investment. This will add clarity for investors, international partners, and local businesses.
The following motions were put forward by Councillor Hamilton and supported with a 12:1 vote in favour:
That Council approve the recommendations as generally outlined in the EY report, and further:
A. That Admin develop a recommended structure and governance, including a change management plan, for a distinct entity with a clear mandate to advance the innovation ecosystem within Edmonton, in consultation with relevant agencies, stakeholders and partners, including EEDC, and return to Committee for public input on the recommended model in Q1.
B. That Admin create a change management and resource plan to consolidate and appropriately resource the City’s business retention and expansion functions, and return to Executive Committee March 16, 2020.
C. That the Mayor, on behalf of Council, request an Edmonton Global Shareholder meeting be called in the new year to discuss ensuring adequate resources are in place to fulfill, and potentially enhance, Edmonton Global’s foreign direct investment and trade functions in the region.
D. That Admin bring budget adjustments in spring of 2020 to reallocate budget to align with the above and realize any efficiencies gained over the medium term.
The ultimate purpose of Edmonton Global is to radically transform and grow the economy of the Edmonton Metropolitan Region – to harmonize efforts and our story, and to be globally relevant and prosperous for generations to come. No organization can do that alone.
We believe that City Council has shown considerable leadership on this and we are committed to work collaboratively on building a new framework capable of facilitating transformative change.
Chris McLeod, MBA
Director, Marketing & Communications