In 2020, Fort McMurray and the Wood Buffalo region have been impacted by a global pandemic, the collapse of oil prices and a devastating flood. These three economic crises will have long-lasting repercussions on the region’s business community. It is critical for the future sustainability of the region to develop a Business & Economic Recovery Plan (the “Plan”) that will help support the immediate response required, recovery efforts and long-term resiliency of the region.
The Business Recovery Task Force (the “Task Force”) was established in March 2020. The objective of the Task Force was to engage the business community and recommend programs and support to help businesses recover. Utilizing the recommendations from the Task Force, key business support organizations have partnered to create a community-led Plan. Partner organizations of the Plan include:
Through the Task Force, various stakeholder discussions and multi-sector engagement with the business community identified the following five themes that are important to the region’s recovery:
These themes provide a framework for success in developing key strategies that will support business and economy recovery. The Plan also includes recommended actions that each partner organization is responsible for.
The Plan is truly a collaborative approach to business and economic recovery. Each partner is critical to the success and long-term sustainability of the region’s business community.