An updated roadmap recommended to support economic development in Lethbridge is set to move forward with the completion of a new Commercial and Industry Study.
The study, commissioned by Economic Development Lethbridge, was conducted by MXD Development Strategists. It aimed to identify market-supported development opportunities to help strengthen the city’s competitive position.
Economic Development Lethbridge interim chief executive officer Ben Young says the study also included a review of existing policies, an analysis of local economic trends and engagement with local stakeholders.
“This study is a comprehensive effort to document and address opportunities to unlock economic growth while addressing priority areas for improvement that will help achieve this outcome,” Young says.
The report provides a land demand forecast and outlines multiple growth scenarios to help guide future planning.
It also includes recommendations across 10 focus areas intended to serve as a blueprint for future economic growth. The recommendations are designed for use by the City of Lethbridge, Economic Development Lethbridge and other stakeholders and are described as clear, actionable steps that “balance immediate priorities with long-term goals”.
The report focuses on strengthening Lethbridge’s role as southern Alberta’s economic hub while creating opportunities for residents, businesses and industry partners.
“Addressing the recommendations provided offers a path to sustained prosperity and will help ensure Lethbridge continues to achieve outsized growth moving forward,” Young states. “We know that we have a strong foundation to build upon, but want to ensure we avoid complacency by ameliorating the items flagged for improvement as soon as possible.”
Young adds that work has already begun to consider how to address the items identified in the study, with collaboration from local partners expected in the coming weeks and months.
