Success Grows Here! Building capacity for regional economic development

Welcome to Lacombe County's “Success Grows Here!” Building Capacity for Regional Economic Development Information Centre. Where economic vitality meets strategic foresight. Lacombe County is dedicated to nurturing a thriving business ecosystem. This project is to design two plans that will empower local businesses, foster growth, and promote our vibrant county as a great place to live, work, and play.

Lacombe County has attracted steady growth and development over the past decade. Adding momentum is the County’s first Economic Development Strategy that provides a 5-year plan to direct economic activities. This new project will build on the strategy’s framework and will result in greater economic diversification, continual job creation, and increased capacity for local businesses.

The County successfully received grant funding through the Northern and Regional Economic Development program, developed by the Government of Alberta, in the spring of 2023, supporting the County in creating a two-part project:

Lacombe County Business Retention & Expansion Plan; and
Lacombe County Business Investment and Attraction Plan.

Lacombe County Business Retention and Expansion Survey is available now:
https://www.surveymonkey.com/r/LacombeCountyBRE.

BRE Survey Media Release

What is Lacombe County Business Retention & Expansion?

The Lacombe County Business Retention and Expansion (BRE) Project is a County-wide effort that recognizes personal, confidential business surveys as a way to:

Identify the needs, concerns, and opportunities of existing local businesses so that, where appropriate, action can be taken.
Learn the future plans of the area’s local businesses with respect to expansion, relocation, and/or retention and assess where assistance can be provided.
Demonstrate the County’s pro-business attitude and develop an effective means of communication.

Think of the Lacombe County BRE project like a business census.

Survey is available now online. https://www.surveymonkey.com/r/LacombeCountyBRE and will be available from May 7 to April 24, 2024.

A final project report presenting high-level findings with action plan recommendations will be developed and made available following the data collection and used to plan future economic development activities for Lacombe County.

Why Undertake a BRE project?

Existing businesses are already invested in the community

It’s important to leverage the fact that existing businesses are already established and invested in the community. Studies have shown that anywhere between 74% and 90% of new jobs within a community come from existing businesses. Furthermore, it is much easier and less expensive for a community to retain existing businesses than attract new ones.

Business Expansion and Retention projects can provide an early warning system

Businesses in every community close each year for a variety of reasons. Some of these closures could be averted if the businesses were connected with the existing support resources. The County’s Economic Development Team can help guide businesses to these resources or provide support for these services to our county’s businesses.

What is the benefit to the business to complete the survey?

This is your chance to voice your opinions and needs to the County and contribute to developing County-led services and programs that will positively impact the local business community and economy. Think of it like a census of business for the County.

This is also your chance to request direct support from the Economic Development Team on urgent concerns or opportunities your business faces. Often, businesses aren’t aware of the services available to them, and participating in this project is a great way to learn about how these services can benefit you. Also, the County is developing stronger support for businesses within the County, so this data will also be used to determine the types of support necessary for county businesses.