TAMRMS#: B06
13.2
title
Notice to Withdraw from Edmonton Global
Notice given by: Councillor Hughes
body
PURPOSE OF REPORT
The purpose of this report is to present a motion for which Councillor Hughes gave notice on November 15, 2021.
label
PROPOSED MOTION:
recommendation
That the City of St. Albert provide notice that it is withdrawing from the Edmonton Global.
body
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
Strategic Priority #2: Economic Development: Enhance business/commercial growth.
Planned Activity 2.7: Focus on regional and sub-regional economic development.
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
N/A
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 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 the world over.
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 (the "Articles") that formed Edmonton Global. In signing the Memorandum of Association, each of the municipalities subscribed for one share in Edmonton Global. Presently, the number of Edmonton Global shareholders sits at 14, with the recent withdrawal of Bon Accord on October 2, 2021. Membership will decline to 12 Shareholders by the end of 2022, as Parkland County and Morinville are scheduled to withdraw in November and December of next year.
Edm...
Click here for full text