Vision for Economic Development

Following a series of wide-ranging community and stakeholder consultations undertaken in 2019, participants put forward the following vision for community economic development.  Clearly, this vision is reflective of the many shared values, priorities and perspectives which were offered during these community-wide consultations.

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Sexsmith has a growing and diversified economy – together with an attractive business climate that supports entrepreneurship, business retention and growth, and new business attraction.

Sexsmith is a sustainable community, with a strong commitment to environmentally-sound economic development and long term fiscal sustainability.  This enables the Town to maintain the quality services, programs and infrastructure that residents have come to expect.

The quality of life that Sexsmith offers its citizens is ultimately what makes the Town a recognized community of choice for residents, businesses and new investment.

Sexsmith is an attractive, prosperous community that treasures its blend of rural and small town lifestyle and remains proud of its family-friendly neighbourhoods, strong sense of community and historical preservation.

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The following goals – once again, reflective of the values, priorities and perspectives which were shared during the 2019 community/stakeholder consultations – are intended to help guide in the implementation of Sexsmith’s new Community Economic Development Plan.  

A Sustainable Community – Long term community sustainability should remain the overriding goal…with the Community Economic Development Plan supporting a more proactive and

targeted approach to business development, growth and investment attraction.

A More Diversified Economic Base – A more diversified economy is a more resilient economy.  Diversification tends to reduce the risk of being overly exposed to any particular sector of the economy and is an example of the old adage of ‘not putting all you eggs in one basket.’

A Renewed Commitment to Value-Added – Adding value to existing service and supply, resource processing and manufacturing supply chains will represent a huge area of opportunity across Northwestern Alberta and Northeastern British Columbia over the next decade.

Growth and Development of Existing Businesses – As in the past, much of Sexsmith’s future growth and prosperity will depend on the entrepreneurial spirit of its small business community.  The primary focus should be on strengthening the Town’s business climate, specifically to facilitate business start-ups, retention and growth.  

New Business Attraction – Municipal policies, regulations and related compliance/approval processes directly affect and influence the cost of doing business in Sexsmith.  In fact, they are a big part of the Town’s business climate, perceived level of municipal competitiveness, and ability to attract new commercial/industrial investment. 

 

>	While Sexsmith’s business, fiscal and regulatory climate remains attractive to investment – particularly in the higher-growth-potential industries and sectors identified in this report – an ongoing commitment to continuous improvement must be maintained.

More Jobs Closer to Home – A strong desire to see new jobs and local services attracted to the community and to shed the perception of Sexsmith being ‘just a regional bedroom community.’

Growing the Non-Residential Assessment Base – Sexsmith should continue to place a high priority on broadening and diversifying its non-residential corporate and assessment base.

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