TAMRMS#: B06
10.1
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Edmonton Global Withdrawal
Notice given by: Councillor Joly
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PROPOSED MOTION(S):
recommendation
1. That the City of St. Albert provide notice that it is withdrawing from Edmonton Global.
2. That this decision be presented to Council in Q1 or Q2 2026 to allow for reconsideration prior to withdrawal.
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ADMINISTRATION'S UNDERSTANDING OF THE INTENT OF THE MOTION
To present a motion for which Councillor Joly gave notice on October 1, 2024, to provide notice to withdraw as shareholder of Edmonton Global.
As there is a two-year notice period to withdraw from Edmonton Global, the motion would require that the decision be presented to Council for reconsideration by Q2 2026, prior to the conclusion of the two-year notice period.
PURPOSE OF REPORT
The purpose of this report is to present a motion for which Councillor Joly gave notice on September 28, 2024.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
N/A
BACKGROUND AND DISCUSSION
Edmonton Global Overview
Edmonton Metropolitan Region Economic Development Company, known commonly as Edmonton Global, is a not-for-profit company established under Part 9 of the Companies Act to carry out a broad range of economic development activities on behalf of the citizens and taxpayers located in the Edmonton Metropolitan Region. Its focus is on attracting foreign investment, helping regional businesses export, enhancing the region's global competitiveness, and presenting a unified voice to attract the attention and interest of investors around the world.
Edmonton Global was formed in 2017 with 15 shareholder municipalities. The City of St. Albert has been a member of Edmonton Global since its inception, and was a signatory to the Memorandum of Association and Articles of Association that formed Edmonton Global. In signing the Memorandum of Association, each of the municipalities subscribed for one share in Edmonton Global.
Municipal Shareholder Withdrawal
Co...
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