In 2012, the province of Prince Edward Island held a business forum called “PEI’s Economic Future – Looking Ahead.” At the forum, the province found that it would need to form a committee of business, education and government leaders if it wished to stimulate the economy. As a result, the Island Advance Task Force was formed.
The task force identified three areas of focus for the Greater Charlottetown Area Chamber of Commerce, which is now moving forward with an economic stimulation initiative. Those areas are: Embracing Entrepreneurship, Improving Access to Capital, and Attracting, Integrating and Retaining Skilled and Entrepreneurial Immigrants.
The government of Prince Edward Island pledged support this week for the initiative, which will be carried over the course of the coming year.
The federal government will support the initiative with a $120,911 investment, delivered through the Atlantic Canada Opportunities Agency’s Business Development Program. The government of PEI will also contribute a grant of $45,354 from Innovation PEI.
“The government of Prince Edward Island recognizes Islanders have great skills and a drive for entrepreneurship; there is tremendous economic potential in communities right across the Island,” said Allen Roach, PEI’s Minister of Innovation and Advanced Learning. “I am confident this initiative will unlock the potential of Islanders and newcomers who want to contribute to our community.”