The Profession of Economic Development in Canada
Economic development is the intentional process by which a community improves its economic, social, and environmental well-being. In Canada, this profession sits at the intersection of business, government, and community advocacy, acting as the primary engine for sustainable growth and a higher quality of life for residents.
What Economic Development Does for a Community
Economic development is often described as a “living ecosystem” that fosters the conditions necessary for a community to flourish. While the visible results are often new construction or job announcements, the work involves several core functions:
- Business Retention and Expansion (BR+E): Supporting existing local businesses to ensure they remain competitive, overcome hurdles, and continue to grow.
- Tourism Marketing & Destination Development: Positioning the community as a premier location for visitors. This involves creating a compelling “brand” for the region, supporting local hospitality businesses, and developing assets—such as trails, festivals, or cultural sites—that attract outside spending and enhance the area’s reputation.
- Workforce Development: Collaborating with educational institutions and industry to ensure the local labor force has the skills required for the jobs of today and tomorrow.
- Investment Attraction: Marketing the community to global and domestic companies to encourage new business locations and capital investment.
- Infrastructure & Capacity Building: Identifying gaps in local infrastructure—such as high-speed internet, industrial land, or housing—and advocating for the investments needed to unlock economic potential.
- Strategic Planning: Using data-driven analysis to identify a community’s unique strengths and creating a long-term roadmap for inclusive growth.
Why Communities Have It as a Function or Service
Communities invest in economic development because growth and resilience do not happen by chance; they require deliberate management.
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Tax Base Diversification: A healthy business sector generates property tax revenue, which funds essential public services like schools, parks, emergency services, and roads, reducing the tax burden on individual residents.
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Job Creation and Variety: It ensures a diverse range of employment opportunities, allowing residents to find meaningful work close to home and providing a future for the next generation.
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Economic Resilience: By diversifying the local economy across different sectors (e.g., technology, agriculture, tourism), communities are better protected against downturns in any single industry.
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Quality of Life: Beyond the numbers, successful economic development creates “vibrant places” where people want to live, work, and play, fostering a sense of community pride and well-being.
Why People are Attracted to this Career
Economic development is a highly rewarding “enterprising” career that appeals to individuals who enjoy leadership, problem-solving, and making a tangible impact.
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Making a Real Difference: Professionals see the direct results of their work, whether it’s helping a local entrepreneur open their first shop or revitalizing a neglected downtown core.
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Diverse and Dynamic Work: No two days are the same. A practitioner might spend the morning analyzing demographic data, the afternoon touring an industrial facility, and the evening presenting a new strategy to the municipal council.
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Collaboration and Networking: The role offers the chance to engage with a wide variety of stakeholders, from CEOs and provincial ministers to community volunteers and grassroots organizations.
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Professional Standing: In Canada, the profession is supported by rigorous standards. Earning the Certified Economic Developer (Ec.D.) designation through the Economic Developers Association of Canada (EDAC) provides national recognition of expertise and a commitment to ongoing professional excellence.