HomeMy WebLinkAboutCAO-09-046 - 2010 Economic Development Grant ApplicationsREPORT
REPORT TO:
Finance and Corporate Services Committee
DATE OF MEETING:
October 26, 2009
SUBMITTED BY:
Rod Regier, Executive Director
PREPARED BY:
Tracey DeVille, Executive Assistant
WARD(S) INVOLVED:
All
DATE OF REPORT: October 19, 2009
REPORT NO.:
CAO-09-046
SUBJECT:
2010 ECONOMIC DEVELOPMENT GRANTS
RECOMMENDATION:
That, subject to final 2010 budget approval, annual operating grants in the amount of
$259,814 as outlined in report CAO-09-046 be approved for 2010.
BACKGROUND:
As outlined in report CSD-08-070, dated August 6, 2008, it was recommended that a new
strategy for community grants be implemented and the outcome resulted in the transfer of
funding to economic development as part of the Economic Development Strategy.
REPORT:
The annual community grants for economic development have been reviewed and it is
recommended that the identified groups in the following chart be allocated funds as indicated.
The funding and the alignment to the 2007-2010 Economic Development Strategy are indicated
below. All groups have been asked to provide their most recent financial statements, a detailed
2010 budget and where applicable documentation supporting the grant request. Where
available, these documents have been attached for your information.
The following grants are being recommended for approval:
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Grant Recipient 2010 Funding Services Provided Economic
Approachand Community Development
OutcomeStrategy
Alignment
Greater Kitchener Annual grant Promotion and 3.0 – Creating,
Waterloo Chamber of commitment $20,000 recruitment services to Attracting,
Commerce Health per year encourage physicians Retaining and
Care Recruitment
to locate in the region – Developing Talent
(2006-2010)
Councilobjective is
attracting/retaining
employees for regional
employers
Business & Education $5,202 plus a 2% Assist youth in career 3.0 – Creating,
Partnership of increase for a 2010 explorationAttracting,
Waterloo Region total of $5,306 opportunities Retaining and
Developing Talent
Junior Achievement of $5,100 plus a 2% Economic of Staying in 3.0 – Creating,
Waterloo Region Incincrease for a 2010 School program – Attracting,
total of $5,202 encourages youth to Retaining and
remain in school to Developing Talent
acquire knowledge,
attitudes and skills to
undertake the longer-
term goal of a
successful career
Skill Canada – Ontario $5,202 plus a 2% Support the education 3.0 – Creating,
increase for a 2010 of careers in skilled Attracting,
total of $5,306 trades to youth Retaining and
Developing Talent
Waterloo Region $75,000Support the efforts of 6.0 – Growing
Small Business the Waterloo Region Small Business
Centre*Small Business Centre
to encourage and
contribute to the
enterprising spirit and
economic development
of the community
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Grant Recipient 2010 Funding Services Provided Economic
Approachand Community Development
OutcomeStrategy
Alignment
Canada’s Technology $149,000Continue to support the Identified
Triangle**regional economic partnership to
development assist in leveraging
partnership marketing new development
Waterloo Region and and economic
the cities of activity through the
Cambridge, Kitchener Economic
and Waterloo to the Development
worldToolkit
**Note: Canada’s Technology Triangle detailed 2010 Budget will be provided to Council once
approved by the Board
*Note: Waterloo Region Small Business Centre 2010 Budget will be provided to Council once
approved by the Board
FINANCIAL IMPLICATIONS:
Pending final budget approval, the overall operating budget for annual economic development
grants for 2010, as recommended, is $259,814 of which the recommended 2% increase does
not apply to Canada’s Technology Triangle, the Waterloo Region Small Business Centre or the
Greater Kitchener Waterloo Chamber of Commerce Health Care Recruitment Council. The
Board of Directors for both Canada’s Technology Triangle and the Waterloo Region Small
Business Centre approved a zero increase to the grant funding request for 2010.
ACKNOWLEDGED BY: Rod Regier, Executive Director
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