By Eli J. Ridder

BUSINESS

City launches new focused approach to attract and keep businesses in Medicine Hat

May 9, 2024 | 5:08 PM

Medicine Hat Economic Development and its regional partners have kicked off the first phase of its new focused business retention initiative, the city announced Thursday.

The Business Retention and Expansion – Industry Specific program, known as BREIS, involves Medicine Hat, the Town of Redcliff, Cypress County, the Southeast Alberta Chamber of Commerce, Careers: The Next Generation, Medicine Hat College and C4i.

Instead of the traditional business retention and expansion assessments, the region is taking a broad approach by diving deep into one industry at a time, according to Economic Development Director Selena McLean-Moore.

“The Business Retention and Expansion Industry Specific program provides us with an opportunity to dive deep into the challenges, needs and opportunities of individual sectors,” McLean-Moore said in a statement.

“In this first phase of the program, I look forward to working closely with our manufacturing, warehousing, defence, aerospace and aviation companies in Southeast Alberta to better understand how our department, and the work of our regional economic development partners, can support these industries to capitalize on identified opportunities.”

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Economic Development Director Selena McLean-Moore said its new approach focuses on one industry at a time. (Eli J. Ridder/CHAT News)

Phase 1 of the BREIS program aims to take a high-level look at the industry in the region, according to an Economic Development roadmap.

With its partners, the city will “dig into the opportunities and challenges experienced by businesses in the region.”

That information will act as the foundation for the creation of a survey that will dive deeper into the individual experiences of businesses.

Phase 2 moves on to survey development and business visitation. That will see members of Economic Development and its partners connect one-on-one with business to collect data through a survey.

Economic Development will in Phase 3 take all the data its collected through the process and analyze it to find trends, gaps and opportunities.

Each BREIS will culminate into a report that will include recommendations and action plans for Phase 4.

The action plans will be measurable, and each item should result in a clear positive outcome for the businesses in that industry, according to the city.