Economic Development

Business opportunities throughout Fernie, Sparwood, Elkford and Tobacco Plains, collectively known as “The Elk Valley”, are numerous, abundant and diverse. 

• We want your business to locate here. 
• We want your business to take advantage of all the things we have to offer. 
• We want you to invest in our community, recruit our well educated, hard working residents and reap the rewards. 
• We want to add to an already thriving community and we want you to be part of the future story. 

Elk Valley Economic Initiative Committee 

Members of the Elk Valley Economic Initiative (formerly known as the Elk Valley Regional Economic Development Committee), are representatives of community organizations who share a common interest in regional collaboration around economic development. 

Their goals are to: 

• Champion, support and articulate opportunities for projects and initiatives which contribute to regional economic development in the Elk Valley; 
• Create a network and increase communications among individuals and organizations involved in economic development in the Elk Valley; and 
• Link to and avoid duplication with the activities of other regional economic development initiatives that influence the Elk Valley region. 

Elk Valley Regional Economic Opportunity Analysis & Growth Sector Identification study was an initiative of the Elk Valley Economic Initiative Committee, which is an emerging partnership of local governments, First Nations and the private sector that is working to collaboratively pursue beneficial economic development in the Elk Valley of southeastern British Columbia. 

Columbia Basin Business Retention and Expansion Project 

The Business Retention and Expansion project was a community-driven effort undertaken by the District of Sparwood focused on identifying the needs of our existing businesses. The project was undertaken with support from the Sparwood Chamber of Commerce and the Columbia Basin Rural Development Institute. 

The objectives of the project were to: 

• Identify the needs, concerns, and opportunities of existing local businesses in order that, where appropriate, local action can be taken to respond to the businesses’ needs or development opportunities; 
• Learn of the future plans of the region’s local businesses with respect to expansion, relocation and /or retention and follow-up where assistance can be provided; 
• Demonstrate the community’s pro-business attitude and develop an effective means of communication with local businesses; 
• Encourage the business community’s active involvement in economic development. 

This report describes findings from a Business Retention and Expansion (BRE) survey conducted at 65 businesses in the District of Sparwood between 2013 and 2014. It was an action-oriented and community-based approach to business and economic development. It promotes job growth by helping communities to learn about concerns of, as well as opportunities for, local businesses and to set priorities for projects to address those needs. 

The results of this survey can be used to inform short and long-term planning. In addition, a number of businesses would benefit from follow-up support. Research findings suggest that the following action areas have the greatest potential to improve the business climate: 

• Local Workforce 
• Youth Employment 
• Business Growth & Expansion 
• Economic Diversification 
• Training 
• Succession and Business Planning 
• Government Services 

Columbia Basin Trust supports the ideas and efforts of the people who live in the Columbia Basin. The Columbia Basin Trust (CBT) is mandated under the Columbia Basin Trust Act to manage CBT’s assets for the ongoing economic, environmental and social benefit of the region, without relieving governments of any obligations in the region. They are also mandated under the Columbia Basin Management Plan to include the people of the Basin in planning for the management of the assets and to work with others to coordinate activities related to the purpose of the Trust. 

CBT has two core functions: 

1. Invest capital and manage the assets of the Trust. 
2. Use the income earned from the Trust’s investments to deliver benefits to the Basin. 

Community Funding Programs 

CBT supports communities as they work with residents to identify and achieve their collective priorities.  By helping communities and community groups develop projects, access funds and obtain resources, they enable them to take action on issues and opportunities. 

• Community Development Program can provide funding, advice and other resources to help you see your project come to life. 
• Community Initiatives and Affected Areas Programs - CBT’s oldest program, supports projects identified as priorities within individual communities.  
• Sponsorship program can provide a small amount of financial help to your community event or activity. 

Like all members of the Community Futures network, Sparwood Futures and CFEK strive to achieve the highest professional and ethical service standards.

Members core values include: 

• Honesty - We will be genuine, fair, truthful and sincere in all our dealings. 
• Respect - We will show consideration and deference for the contribution of others. 
• Trust - We will behave responsibly and honourably, we will allow ourselves to be open, approachable and create an atmosphere that encourages candor. 
• Openness - We will share information in a timely fashion, respecting the need for prudence and confidentiality. 
• Results - We will create positive community outcomes through innovation, entrepreneurial leadership, excellent client care and strong partnerships. 

Quality standards for members include:   

• Governance - Community Futures operates using a governance model based on written policies/procedures that encompass our operational needs.  These policies are regularly reviewed and renewed. 
• Professionalism - Community Futures volunteers and staff adopt the core values, strive for excellence and seek out opportunities for continuous improvement. 
• Communications - Community Futures communicates both internally and externally reflecting our core values in a timely, responsive and effective manner. 
• Accountability - Community Futures are accountable to our community. 

Community Futures East Kootenay 

Community Futures East Kootenay (CFEK) is dedicated to fostering strong, vibrant local economies. Engaging in Community Economic Development with local governments, key partners and stakeholder organizations, CFEK seeks to be a driving force for economic growth and sustainability throughout the East Kootenay. Led by a volunteer Board of Directors, CFEK’s dedicated staff supports the creation and expansion of small businesses in the area. 

CFEK promotes economic development and the creation of jobs and wealth in our region by providing small-business loans for start-up, expansion or the purchase of existing businesses. In addition to financial support, CFEK offers a variety of business-related services, including knowledgeable, professional business consultation and access to training for entrepreneurs and their employees. 

Sparwood Futures Society  

The Sparwood Futures Society is a Registered Society made up of a number of community based clubs, organizations and individuals. 

The Sparwood Futures Society is made up of: 

• Sparwood & District Chamber of Commerce; 
• Sparwood Lions Club; 
• The Fraternal Order of Eagles; 
• The Knights of Columbus; 
• Coal Miners Days Society; and 
• The Sparwood Legion (Branch 081). 

The Society’s mission is: 

• To promote the well being of the citizens of the District of Sparwood and the Elk Valley area; 
• To engage in projects for the advancement of citizens of the District of Sparwood and the Elk Valley area; 
• To promote the economic, cultural, social and recreational well being of the citizens of the District of Sparwood and the Elk Valley Area; and 
• To acquire, hold, lease, manage, rent or sell real estate and property for the purposes of promoting, establishing and maintaining of facilities for the enhancement of the well being of the citizens of the District of Sparwood and the Elk Valley Area. 

Kootenay Rockies Innovation Council is dedicated to fostering a culture of innovation as well as the development of science and technology in the East Kootenays.

The Kootenay Rockies Innovation Council is a non-profit society that provides programming and events targeted at businesses, communities and students/educators related to science, technology and innovation. 

Programs and initiatives include: 

• Manufacturing and Technology Sector (MATS) Initiative; 
• Leaders and Entrepreneurs in Action Program (LEAP); 
• Business Coaching; and 
• Livewire.