CanExport Grant To Help City Explore Growth Into New Industries, Investment Attraction Efforts
The City of Cranbrook continues to work on diversifying the local economy with regional partners from Calgary and Spokane, thanks to grant funding from the CanExport Community Investments program, through Global Affairs Canada.
This initiative aims to explore how Cranbrook can strengthen supply chains and foster innovation in the aerospace industry and its supporting sectors. It will involve strategic planning through a Business Case study and a Regional Foreign Direct Investment (FDI) Attraction Strategy. The project builds on previous efforts to prepare investment-ready lands for development. The total cost is $81,000, with both the City and Global Affairs contributing equally. The City’s contribution of $41,000 will come from Economic Development, which focuses on attracting new businesses and jobs to Cranbrook.
“This is an initiative that fits well with our long-term development vision for future development of the industrial land at the Canadian Rockies International Airport,” says Mayor Wayne Price.
This project will host events in Cranbrook, Calgary, and Washington State to build support and partnerships, aiming to make Cranbrook a key hub in the Pacific Northwest aerospace sector. It will encourage collaboration, trade missions, and knowledge sharing, while attracting investment from companies in advanced materials, aircraft manufacturing, and aerospace technologies.
“We are committed to fostering regional collaboration and investment opportunities,” says Darren Brewer, Economic Development Officer. “This will help form our long-term investment attraction strategy and strengthen ties with Calgary and Washington State.”
The City of Cranbrook gratefully acknowledges the CanExport Community Investments program within Global Affairs Canada, and the Government of Canada for this important grant funding, which is designed to help communities like Cranbrook attract foreign investment to help diversify local economies and create economic growth.