Budget - Economic Development and Physician Recruitment

The Economic Development Division plays a critical role in fostering a resilient, inclusive, and prosperous local economy in the City of Peterborough. As the City continues to grow and evolve, the Division is focused on creating the conditions necessary for business success, talent retention and attraction, and investment readiness. Our work is guided by strategic priorities that align with Council’s vision for sustainable development, community prosperity, and quality of life. The division includes Economic Development and Physician Recruitment.

Highlights

Following the recent transition of economic development responsibilities back in-house, the Division has embarked on a comprehensive rebuild of core economic development functions. This includes the development of a new Economic Development Strategy, investment attraction framework, and business retention and expansion programming. The Division is also strengthening internal and external partnerships to ensure alignment with planning, engineering, tourism, workforce development, and regional innovation assets.

The Physician Recruitment program was approved to become a permanent City program by Council with Report IPGED25-003 dated August 5, 2025.

The division’s 2026 budget includes increased costs for economic development activities for implementation of the Economic Development Strategy as well as new strategies for physician recruitment.

Recommendation

That any unused Physician Recruitment budget at the end of 2026 be transferred to the Physician Recruitment Reserve, subject to the overall year-end position.