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Fort Erie Economic Development & Tourism Corporation

660 Garrison Road, Unit 1
Fort Erie, Ontario L2A 6E2
Phone: (905) 871-1332
Toll Free: 1-888-270-9151
Fax: (905) 871-1077
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Economic Preparedness Strategy Presented to Town Council

On Monday, February 13, 2017, the Fort Erie Economic Development & Tourism Corporation (FE: EDTC) presented an Economic Preparedness Strategy to Fort Erie Town Council, which provides detailed economic impacts that may arise from three major development projects: Niagara Parks Marina, Canadian Motor Speedway and Race Track lands Redevelopment. The study identifies the resources required to support the success of the projects and to enable Fort Erie to capture its fair share of the associated economic gains when they launch.

“In July 2016, at a cost of $115,000, Deloitte Canada, renowned economic and financial consulting providers, was tasked with undertaking this in-depth analysis,” said Jim Thibert, FE: EDTC general manager, adding that by engaging the Town, Region, Province, labour and business interests, “we can proactively expedite these developments to the benefit of our clients and community.”

The Economic Preparedness Strategy, considers the direct impact of the “big three projects” were according to Thibert, “tested against projections real case studies for veracity of analysis and as a practical test for results and recommendations.” The 116-page study (LINK HERE) provides a set of recommendations to assist the Town of Fort Erie and local businesses with their future planning to ensure they are positively positioned to take maximum advantage of the potential economic benefits expected to arise from the projects.

“Our purpose in conducting this study effort was multifold,” said Thibert, including:

  1. Better understand the current state of our local and regional economy;
  2. Develop a detailed analysis on any or all the 3 “Big 3” Fort Erie development projects and test impacts against real case studies;
  3. Project asset and gaps analysis to enable Fort Erie and Region of Niagara to understand extent of economic impacts and help business and labour capture maximum opportunities;
  4. Understand labour/business impacts of such mega-projects and create information plans to help local business and labour avoid potential conflicts;
  5. Identify what Fort Erie and Niagara has and will need to facilitate and expedite any and all of these projects through construction and operational phases; and
  6. To re-invigorate through thoughtful analysis of needs, benefits and potential, the team effort of development client/Foreign Direct Investment, Town of Fort Erie, Region of Niagara, Province of Ontario and Government of Canada to prioritize these significant world-class projects along roadmaps through construction, launch and successful operations.

“Fort Erie and Niagara and Ontario need to muster their resources and attention on a mutual plan to make these projects happen,” Thibert said. “The Economic Preparedness Study provides a current assessment of the local economy, an estimation of the economic impact, an assessment of readiness for project launches, and strategic recommendations to streamline the projects through to conclusion.”

For Executive Summary Presentation to Town Council (February 2017), CLICK HERE
To view the entire Economic Preparedness Strategy, CLICK HERE

For more information contact the FE: EDTC office at 905-871-1332.