Business Inventory and GAP Analysis 2010
Utilizing funding from Alberta Finance and Enterprise, the Economic Development Branch has completed several Regional Economic Development Alliance (REDA) initiatives including a Business Inventory and Gap Analysis. The primary objective of this project was the creation of a comprehensive business inventory and gap analysis along with recommendations and an action plan.
The total combined Business Inventory for Wood Buffalo includes 5100 Records. The business inventory allows the Economic Development Branch to generate a number of reports including North American Industry Classification System and Employee Size. Currently this tool will be used internally with the intent that in the future it will be launched publically.
Through quantitative analysis using Statistics Canada business data and qualitative data collected through community interviews and focus groups, a priority listing of businesses to target for locating/expanding in the Municipality were identified along with particular strategies to achieve those targets over a three year time frame.
In general, feedback from the community was for the branch to focus on personal services (i.e. clothing stores, electronics stores); this is consistent with the findings as presented in the recently adapted Commercial Industrial Land Use Study.