The Town of Gull Lake hosted a meeting last Friday at the Gull Lake Lyceum Theatre titled "How to Generate Capital in Our Region." Around twenty people attended including business owners, municipal councilors and entrepreneurs. Additionally, the meeting was webcast live on the Gull Lake Lyceum Theatre's Facebook page.
The guest speaker, James Leier, spoke to the group about the potential benefits of establishing a Municipal Development Corporation to help generate investment capital in our region. Several examples of how these types of corporations have successfully generated capital investments in other communities were provided.
Following that, there was a group discussion and question and answer period. Among the key takeaways from the discussion were:
Municipalities that choose to form a Municipal Development Corporation face a risk. However, there are several best practices that can assist in mitigating risk.
There's also a risk in doing nothing while waiting for outside investors. Over the years, the downtown has declined, and investors have not come to town.
Other potential investment sources to consider include first nations, industry leaders, and individuals.
The meeting was an excellent way for those in attendance to learn about Economic Development Corporations and to discuss potential ways for the Gull Lake Area to find ways to attract investment. Anyone wishing to watch the video can go to https://fb.watch/bN9fC7K09A/
Blake Campbell
Gull Lake Events
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