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July 26, 2011

Regional Investment Attraction Project Completed

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Community Futures Rural Diversification Initiative Invests $178,000 to Increase Foreign Direct Investment in Central Alberta

Community Futures Central Alberta and Red Deer Regional Economic Development (RDRED) recently completed a regional investment attraction project funded through the Community Futures Rural Diversification Initiative (RDI).

The initial goal of this project was to recruit, to the Red Deer Region, foreign companies that were looking to expand and were complimentary to existing businesses in the area. RDRED then partnered with Central Alberta Economic Partnership (CAEP) to expand the project to include over 40 municipalities in Central Alberta. The research revealed that by marketing Central Alberta as a whole, the region is able to attract international companies and site selectors making investment decisions with more industry cluster options, a larger workforce and a more recognizable trade area.

This project achieved many successes that have positively impacted the region. A new brand and tag line for the region was developed called “Central Alberta: Access Prosperity”. This branding was taken on the road to seven trade shows to market the region to investors.

In addition, an International Ambassadors Program consisting of local business owners and managers was established to represent and promote Central Alberta and its investment opportunities during their international travels. In total, 67 local managers participated in the Ambassador’s Circle, over 3 times the initial target!

The Central Alberta region achieved great recognition and built a strong brand that has clearly been noticed. Following on the success of this RDI project, RDRED in partnership with CAEP have subsequently secured additional funding through Rural Alberta Development Fund to continue and expand the project.

“This project has really helped jump start Central Alberta’s initiative to attract foreign direct investment,” said Erin Gates, spokesperson for Red Deer Regional Economic Development. “Thank you to Community Futures for helping us to get the ball rolling.”

The Community Futures Rural Diversification Initiative is a 4-year program funded through Western Economic Diversification Canada that provides funds to Community Futures organizations to implement economic diversification projects in rural Alberta.

RDI started in April 2008 and will be complete by March 2012. For more information, please visit

Click here to view the original news release.

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