The Board of Directors of the Western Development Corporation (WDC) unanimously endorsed a resolution at a special meeting in Bloomfield last night that will mean the rebirth of a new economic development organization for the West Prince region.
The WDC board's decision, based on findings of the final report of a recent study by Baker Consulting Inc. into community-based economic development in West Prince, is to dissolve the Corporation effective immediately. The WDC will be replaced by an independently appointed successor board of a completely new community-based corporation with a fresh mandate to direct economic development in West Prince.
"The board based its decision to cease operations on the conclusive findings of the Baker Report," stated Rory Beck, Vice-President of ACOA PEI and Tourism. "The people of West Prince have clearly voiced a desire for change and, in the interest of renewal, the board voted to honour the public position."
Last night's meeting was held with representatives of the Atlantic Canada Opportunities Agency (ACOA) and the Prince Edward Island Department of Development to discuss the Baker report.
Effective immediately, all affairs and operations of the WDC will be turned over to the Management Sub-Committee of the Regional Economic Development Agreement (REDA) who will manage the affairs of the corporation and oversee the orderly wind-down and divestiture of the Corporation's assets. The REDA Management Sub-Committee is comprised of the Vice-President of ACOA PEI and Tourism and the Deputy Minister of Development.
Federal and provincial government representatives met this morning with WDC staff to inform them of the outcome of last night's meeting and to advise them of the procedure that will be followed for future direction.
Four months ago the WDC Board of Directors was asked to stand aside, and an interim board was appointed to direct the corporation while the Baker study was conducted. Completion of the interim board's mandate on October 23rd coincided with the submission of the consultant's final report.
"Based on the clear message in the Baker Report, the decision to cease operations of the Western Development Corporation is the responsible course in the best interest of economic development for West Prince communities," said Mr. Beck.
"Community-based economic development is a priority commitment of the Government of Prince Edward Island," said Don MacKinnon, Minister of Development for Prince Edward Island. "I commend the board for all their work and for recognizing that a new direction is needed for economic development and the future strength of West Prince communities."
"I recognize the hard work and contribution of all past volunteer board members," stated Jim Johnston, Deputy Minister of Development for Prince Edward Island. "The province and ACOA are committed to working with the people of the West Prince region to build strong future communities."
For more information, contact Birt MacKinnon, Manager of Community Development, Dept. of Development, (902) 368-4244, or Kim Jay, Account Manager, ACOA PEI, (902) 368-0842.