Western Economic Diversification Canada
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Up-Front Multi-Year Funding

Name of Recipient: Primrose Lake Economic Development Corporation

Start Date: March 30, 2007

End Date: March 31, 2027

Total Funding: $15,000,000

Description: Create a community controlled trust fund for economic development

Strategic Outcome(s): The Western economy is developed and diversified.

Summary of Results Achieved by the Recipient: During fiscal 2011-12, the Board focused on three projects chosen from the five set out in their Strategic Plan. Studies were funded for the first 2 projects, with recommendations turned over to the communities for implementation. The third project – Beauval Industrial/Commercial Park is underway.  PLEDC has formed strategic partnerships with other groups involved in the complex and will continue to collaborate on projects resulting from this development. The 3 projects are as follows:

  1. The Fort McMurray Road development Plan
  2. Studying the potential of hydro-electric generation
  3. The Beauval Industrial/Commercial Park

In addition to these larger projects, PLEDC continues to distribute funds based on new applications from the communities.  From April 1/11 to March 31/12 PLEDC paid out $101,188 in the form of grants to clients for economic development. 

Program Activity:
($ millions)
2009-10
Actual
Spending
2010-11
Actual
Spending
2011-12
Planned
Spending
2011-12
Total
Authorities
2011-12
Actual
Spending
Variance(s)
$0 $0 $0 $0 $0 $0

Comments on Variance(s): n/a

Significant Evaluation findings by the recipient during the reporting year and future plan: The fiscal year ending March 2012 is the fifth year of the Agreement, and PLEDC ran an RFP for a consulting firm to do the required evaluation. The first interviews for the evaluation are starting in June, 2012.

Significant Audit findings by the recipient during the reporting year and future plan:
No audits performed to date. Date for an audit in the future has not yet been identified.

URL to Recipient's Site: www.pledco.ca