Coquitlam is working to build a high quality of life for current and future generations supported by a strong local economy and local jobs. Our Economic Development Strategy (PDF) will help us to achieve this.
The Economic Development Strategy was developed through extensive research, analysis, and public engagement. Building upon Coquitlam’s strengths and assets, it identifies challenges as well as future opportunities for the City, and builds on engagement with businesses, community organizations, youth, and First Nations economic development organizations, to contribute to a strategy that works for everyone. It also builds on the City’s solid foundation of existing planning work, such as the Strategic Plan, Official Community Plan, Technology Strategy, Tourism Strategy and many others.
The Economic Development Strategy serves as a unifying and guiding roadmap, providing a clear five-year action plan that supports our local economy as well as the ongoing establishment of a complete community in order to position Coquitlam for success. The strategy will help strengthen the City’s position as a place for business and a desired quality of life.
Economic Development Strategy and Supporting Documents
The Economic Development Strategy was created using a building block process that ensures it reflects the needs, priorities and aspirations of Council and Coquitlam’s diverse community. These building blocks included:
- Vision (PDF) – incorporates the feedback from the public engagement process in spring and summer 2022. The vision includes the values, themes and goals of the Economic Development Strategy, which are organized around three key themes: people, place and partnerships.
- Employment Lands and Economy Review (PDF) – the analytical backbone of the draft strategy, this review provides an overview of Coquitlam’s economy with an analysis of regional context, demographics, employment projections and future trends.
- Implementation Plan (PDF) – provides a clear, focused and tangible inventory of proposed actions for the City to implement in order to support the achievement of the identified objectives.
- Strategic Investment Plan (PDF) – provides a more focused look at the context, opportunities and challenges for attracting and growing inbound and outbound foreign direct investment to Coquitlam.
Top Five Key Actions
The top five key action areas for the next two years, include:
- Developing an Economic Development Competitiveness Study
- Creating new business promotional marketing materials
- Establishing direct business outreach programs and services, including employment space demand support and services for export-oriented businesses
- Working with partners to attract and accommodate major employers and institutions into Coquitlam’s City Centre neighbourhood, as well as other commercial areas
- Supporting the establishment of new business improvement areas
Reports to Council
Reports to Council