CHARLOTTETOWN, PE – With the potential wind down of the Charlottetown Area Development Corporation (CADC), Downtown Charlottetown Inc. (DCI) and the Greater Charlottetown Area Chamber of Commerce (GCACC) are calling for the next provincial government to work with the business community to establish a new economic development entity in the capital region.
“For the past 45 years, CADC has created private sector investment opportunities and expanded commercial development in the Charlottetown area,” said GCACC CEO, Penny Walsh-McGuire. “We’re asking party leaders to acknowledge the positive impact CADC has had and commit to a future that includes a new capital region economic development entity.”
Since 1974, CADC has been a the catalyst, developer, and property manager for economic and social initiatives including the Prince Edward Island Convention Centre, Confederation Landing Park, Prince Edward Island BioCommons Business Accelerator Centre, and various other commercial and residential properties.
“The positive impact CADC has had in our community can been seen all around the capital,” said Dawn Alan, DCI Executive Director. “We now have an opportunity to re-examine the way we execute economic development and investment in the area – and offer a new, rejuvenated entity, with the autonomy to make decisions that are in the best interest of our region.”
DCI and the GCACC recommend that the new economic development entity:
- be governed by an independent board of directors with support from three municipalities and the provincial government;
- have a mandate to be a catalyst and facilitator for development initiatives including public-private partnerships;
- lead projects in the geographic area of Stratford, Charlottetown and Cornwall.
In advance of the 2019 provincial election, DCI and GCACC are calling on all parties to commit to creating the new economic development entity within the first six months of forming government.
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About Downtown Charlottetown Inc.
Downtown Charlottetown Inc. (DCI) is a non-profit organization with the mandate to work with businesses to create and maintain a vibrant downtown through an established Business Improvement Area. Working with these businesses, DCI focuses on projects that improve living and commerce in Downtown Charlottetown and rejuvenate the City core into an exciting place to live, work, play and invest – the centre of business, government, culture and entertainment. The specific objectives for the association are: To motivate and encourage business development, promote and support urban residential living, market downtown Charlottetown is open for business, represent property and business owners. For further information; downtowncharlottetown.com or 902-368-8636
About the Greater Charlottetown Area Chamber of Commerce:
The Greater Charlottetown Area Chamber of Commerce is a non-profit organization made up of business and professional people sharing a common goal: the economic development of the capital region of Charlottetown, Cornwall and Stratford. With close to 1000 members, the Chamber reflects a diverse network of small, medium and large businesses from almost every industry sector and business profession. For further information visit charlottetownchamber.com or call 902-628-2000.