Kimberley joins Invest Kootenay coalition

City of Kimberley will pay $7500 for regional investment attraction partnership.

Kimberley City Council approved a Memoranda of Understanding between the City and Invest Kootenay this week.

The MOU will see the City join the regional investment attraction partnership.

Participants in Invest Kootenay are entitled to a suite of services to promote investment attraction.

These services include an online data base platform of investment opportunities, regional investment readiness training, and more.

Director of Economic Development Kevin Wilson told Council that at $7500 a year, it was a good value for the money

“This is one of the leveraging of regional resources we’ve talked about as part of economic development,” said Coun. Don McCormick.

The City will pay the entire $7500 this year, but McCormick says the hope is that partners Tourism Kimberley and the Kimberley Chamber will take on some of the legwork.

One of the advantages to City membership in this regional partnership is that businesses will have a new method of marketing themselves as an investment opportunity.

As Wilson summed up in his report to Council, many Kimberley businesses are for sale, many from older proprietors seeking to retire. Most advertise their sale through real estate companies or even just signs in windows. Invest Kootenay gives them an opportunity to market the sale of a business on their website.

“It is important that these businesses are transitioned successfully, both to ensure they continue to employ residents and to maintain business confidence,” the report says.

It is hoped that the partnership with Invest Kootenay will assist with this.

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