TAMRMS#: B06
9.2
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Business Incubation Supports
Presented by: Mike Erickson, Acting Director, Economic Development
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RECOMMENDED MOTION(S)
recommendation
1. That the City pause financial support for the Northern Alberta Business Incubator.
2. That Administration prepare options for the divestment and redevelopment of 13 Mission Avenue for Council's consideration.
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PURPOSE OF REPORT
The purpose of this report is to seek direction from Council regarding the City’s financial support of business incubation in St. Albert through NABI and the future of the City-owned property at 13 Mission Avenue.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
Strategic Priority #2: Economic Development: Enhance business/commercial growth.
Activity #3: Implement a broader economic sustainability platform to develop commerce retention and resiliency strategies.
Activity #4: Develop strategies to enable entrepreneurial ventures and groups.
Strategic Priority #4: Identify, build and/or enhance needed critical or strategies infrastructure and identify and implement associated optimal business and operating models and lifecycle strategies.
Activity #4: Adopt a total cost of ownership approach in assessing lifecycle of existing and new assets
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
Business Attraction, Retention and Expansion
-Entrepreneurship Development
-One-on-One Support for Local Businesses
-Granting for local businesses and community groups
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
N/A.
BACKGROUND AND DISCUSSION
This report will examine the key issues related to the business incubation supports in St. Albert:
1. The City’s Financial Support of Business Incubation through NABI
2. NABI’s Delivery of Business Incubation & Financial Sustainability
3. Strategic Asset Management of 13 Mission Avenue
NABI Overview
NABI is a not-for-profit business incubator, based in St. Albert. They have been dedicated to helping start-u...
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