Economic development and tourism services

Peterborough, ON – A new service delivery model for economic development and tourism promotion will be considered by City Council on Monday, June 17 as it looks to transition from Peterborough and the Kawarthas Economic Development, which will cease operations.

“Peterborough was recently shown to be ranked last in gross domestic product growth among the Census Metropolitan Areas in Ontario – behind areas such as Belleville, Brantford, and Thunder Bay. Our business property tax base is not where we need it, leaving residential property taxpayers to shoulder a greater burden. We need a different approach to attract investment. The status quo isn’t working,” Mayor Jeff Leal said.

“Peterborough and the Kawarthas Economic Development has served our region with professionalism and dedication for 25 years. The individuals in that organization are outstanding individuals. As we move forward, we need to build on the successes of that organization but also bridge the gaps that have emerged over the last 25 years.”

Council will consider bringing economic development activities in-house as a directly provided service, instead of contracting with an external organization, to create efficiencies from leveraging existing services from the municipality and align with City Council’s Strategic Plan.

A new economic development division would be created within the City department that already includes activities such as growth management, planning for development, development applications, and infrastructure construction.

The mandate of the new economic development division would be to ensure that the City’s policies, processes and programs are developed and designed to support economic development and to minimize obstacles for local businesses. It would serve as an in-house centre of excellence for business support, economic development and investment attraction.

“Regional collaboration, partnerships and communication will remain essential as both the City and Peterborough County transition in how they provide economic development and tourism activities,” Leal said. “Peterborough Region is well positioned to attract growth and investment. The City and the County are taking action to move our communities forward.”

Peterborough and the Kawarthas Economic Development (PKED) has about 15 employees, plus summer student positions.

The new economic development division is expected to have about six staff, plus there would be 4.5 positions to support tourism activities for a new Experience Peterborough initiative, with the tourism staff positions created with Arts and Culture, Recreation and Park Services, and Strategic Communications and Service Peterborough.

The restructured economic development would be created within the existing municipal budget for these activities, which includes core funding of $1 million to PKED.

Council provided direction in June 2023 related to considering alternatives for the delivery of economic development services.

The City of Peterborough, Peterborough County, and PKED, which is officially known as Greater Peterborough Area Economic Development Corporation, established a tri-party agreement for the operations of what is now known as PKED through an agreement on December 6, 1999.

On June 5, 2024, Peterborough County approved Phase 1 of its transition plan to bring economic development and tourism services within Peterborough County’s directly-operated services.

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