Delegations    Item #   6. b.            
Regular Council Meeting Agenda Council Delegations            
Meeting Date: 10/13/2020  
Title: Council Delegation - Edmonton Global - Wolanski
Department: City Manager
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Request for Decision Summary
Mr. Malcolm Bruce, Chief Executive Officer of Edmonton Global has requested to come before Council to provide information on funding opportunities for the board. 

Proposed Motion
That the Edmonton Global update be received as information and that Mr. Bruce be thanked for his presentation.
Background/Analysis
During the Annual General Meeting 2020, the Shareholder representatives directed the Board and Management to present a plan to Shareholders to consider additional contributions based on a suite of activities that could be funded if additional funds were invested in Edmonton Global.  This opportunity for additional funding stems from two principle considerations:
 
  • COVID has made Foreign Direct Investment (FDI) & export opportunities even more globally competitive; and,
  • the City of Edmonton reorganization and re alignment of economic development roles and responsibilities between Edmonton Economic Development Corporation, the City and Edmonton Global.  Mayor Iveson wanted to explore if there was a regional interest. 
This Investment Plan Proposal was brought back to an Extraordinary Shareholder meeting August 20, 2020.  Four options were presented and examined.  The result was further direction to the Edmonton Global Board to refine 3 options for consideration – an Optimal (Option A), Enhanced (Option B) and Budget (Option C) over a two year time horizon.  Part of the Shareholder direction was further engagement.  The Board has undertaken that engagement with each Shareholder representative and their respective Council.
 
The goal of investing these additional resources will be for Edmonton Global to accelerate opportunities for the Edmonton Metropolitan Region for FDI and trade.
Options/Alternatives
Consultation/Engagement
Implementation/Communication
Impacts