Economic Development
The Lake Cowichan First Nation embarked upon an ambitious journey when it made the decision to adopt a community-based approach to developing its 5-Year Economic Development Strategic Plan. It did so because the community members and its Chief and Council were ready to embrace change. The community recognized the economic development potential of its lands and resources, and of its location and wishes to capitalize on the opportunities that exist.
The Lake Cowichan First Nation Economic Development Strategic Plan is a strategic plan for the future of its economic development. The strategy is meant to be viewed in the following ways:
- As direction for making short, medium, and long term economic planning decisions. It can be use as a guide for all economic development initiatives, planning, and development initiatives, and strategic investments into specific sectors, projects, and developments. The intent of the strategic plan is that future Lake Cowichan First Nation organizations, private, institutional and non-profit investments work toward the goals identified in this economic development plan.
- As a guide for the creation and development of future economic development work plans and budgets. This strategy entails review and flexibility of existing processes for development and the creation of new programs and processes for the future.
- As the source of ideas and inspiration for ongoing community participation and involvement in community economic development. Achieving the objectives of this strategy will require the involvement of community and outside organizations, government, business and stakeholders. This strategy should serve as a source of ideas and inspiration for actions aligned with mutually supportive goals and objectives.
For Lake Cowichan First Nation, this 5-Year Economic Development Strategic Plan is a starting point rather than the end point of a process that will take the community out of a state of dependency and into an era of prosperity that will reestablish the Nation’s place in its traditional territory and in a competitive position in the regional, provincial, national, and global economy. Effective implementation of this report will require constant review. New information and ideas will need to be incorporated into the report from time to time. This report must therefore be dynamic and responsive to the ever-changing economic and social environment.
