The economic landscape of southeast Saskatchewan is getting a boost with the introduction of a novel certification program. This initiative, a brainchild of the Saskatchewan Economic Development Alliance (SEDA) in collaboration with the Shorefast Institute for Place-Based Economies, is set to revolutionize how businesses and organizations understand and showcase their impact on the local economy. The program, supported by Community Futures Sunrise, is one of the first of its kind in the country, offering a unique approach to economic impact assessment.
What sets this program apart is its innovative use of a graphic representation modeled after a food nutrition label. This creative approach, as SEDA's CEO, Verona Thibault, explains, will make it easier for organizations to communicate their economic impact to their market. By doing so, it not only benefits the participating organizations but also the surrounding regions, as it helps identify gaps in the supply chain and areas where new investment can be attracted.
Thibault believes that this program has the potential to go beyond the 'buy local' concept. It can provide a comprehensive picture of the region's economic health, including the various communities that could be looking to fill gaps in the supply chain with business startups or by attracting new businesses. This, in turn, can lead to a more robust and resilient local economy.
The program is open to a wide range of organizations, from non-profits to crown corporations. Applications are due on August 14, and the program runs from September 14 to December 4. The majority of the program is virtual, but there are two in-person workshops, making it accessible and beneficial for almost everyone.
In my opinion, this program is a significant step towards a more transparent and sustainable economic development strategy. It empowers organizations to take ownership of their economic impact and encourages a more holistic approach to economic growth. The use of the food nutrition label format is particularly clever, as it provides a simple yet effective way to communicate complex economic data.
However, the program's success will depend on the active participation of businesses and organizations. It is crucial that they embrace this opportunity to showcase their economic impact and contribute to the overall health of the southeast Saskatchewan economy. This program has the potential to foster a new era of economic transparency and accountability, and I am excited to see how it unfolds.
