Following the successful Reversing the Tide conference in Prince George in October 2008, the Real Estate Foundation of BC hosted a follow up workshop in March of 2009. Approximately 40 folks representing a cross section of organizations and agencies working in rural BC met in Vancouver. Our purpose: to talk about possible follow-up and next steps.
It was clear from the conference that there are “missing pieces” of rural strategy and programs in BC, pieces that are in place in other jurisdictions and that are having some success in rural development. Over the last year those missing pieces have been discussed. A summary is included, below.
On behalf of the larger post-conference group, I presented this summary at the BC Rural Summit in Port Hardy in March 2010.
Based on the best practices research and the international success stories, the actions required to provide the focus, resources, and tools necessary to ensure that rural regions and communities have an opportunity to reach their full economic potential include:
1. Create a Rural Strategy and Strong Rural Advocates for BC
BC needs a meaningful provincial Rural Strategy and the creation of strong rural advocates within and outside of government. Both the provincial and federal governments must provide additional supportive policies and financial resources to facilitate rural development in BC.
2. Create new Rural Development Catalyst Organizations and Programs in BC
Best Practices from other jurisdictions have demonstrated the critical role that rural development catalyst organizations (e.g. RUPRI – Rural Policy and Research Institute; Rural Development Initiatives of Oregon; etc.) play in increasing knowledge, skills and practices to facilitating rural revitalization and development.
3. Create new Regional Development Organizations in Rural BC
To achieve the critical mass required in today’s global economy, rural communities must strategically collaborate and work at both the local and regional level. Best practices from other jurisdictions have demonstrated the critical role that regional rural development organizations play in rural revitalization and development. Regional organizations do not replace the need or role of local economic development agencies; instead they work at the regional and sector level where the magnitude of impact that is required can be obtained through economies of scale and focused specialized interventions.
4. Create a New Venture Capital Fund and Supporting Entrepreneurial Management Assistance
Venture capital is available in urban areas, but rural entrepreneurs have limited access to that capital and expertise. We need an equivalent fund that focuses only on companies and entrepreneurs in rural communities
5. Facilitate the Strategic Use of Public Lands and Resources for Regional Development in Rural BC
Rural BC communities are culturally and economically linked and dependent upon the lands and natural resources which surround their communities. These lands and resources will play a critical role in their future economic development.
6. Retain and Reinvest a Greater Proportion of Wealth in Rural BC
To adequately address the systemic barriers that limit innovation and economic growth and diversification in the rural regions of the province, rural BC needs new forms of dedicated multi-year financial resources that are controlled by rural regions themselves.
7. Maintain Viable Rural Communities in BC
Given the current economic and population challenges faced by many rural BC communities, a commitment to implement new or enhanced strategies and tools to maintain viable rural communities in BC is required.
If you have any comments or suggestions on these ideas, send them to me at Selkirk College, or to Tim Pringle at the BC Real Estate Foundation of BC.
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About the author:
GEORGE PENFOLD is the Regional Innovation Chair (RIC) in Rural Economic Development at Selkirk College in Castlegar, BC and Adjunct Professor at the School of Business and Economics at Thompson Rivers University in Kamloops, BC. In 2005 the Real Estate Foundation of BC contributed $100,000 to the RIC endowment fund at Selkirk College as part of its support for sustainable community planning and informed development in the greater Kootenay region. George is a regular contributor to CITinfoResource.com.
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