Economic Development: Time to Break the Mould

Owen Sound taxpayers are spending more than $1 million every
year on economic development, and we have been doing so for several
years.
According to the City’s 2024 audited financial statements,
economic development expenditures included $821,151 in salaries
and another $165,031 in contracted services—a total of nearly
$1 million before considering other related costs.
And
there is another problem. The 2024 financial statements are still identified as
draft, even though the 2024 fiscal year ended more than 21
months ago. This is the latest financial information available to
taxpayers.
After years of investing millions of taxpayer dollars, a
reasonable question is:
What are taxpayers getting for their
investment?
A few years ago, the Mayor established a
“Growth Committee.” When its work was completed, the Mayor
proudly announced the committee’s goal: “30 by 30”—growing Owen
Sound’s population to 30,000 by 2030.
But a slogan is not an economic
development strategy.
Where
is the detailed plan? What specific actions will attract new businesses, create
jobs, increase investment and bring new residents to Owen Sound? And, most
importantly, how will we measure whether the strategy is actually working?
As Dr. Phil has often said, “Past performance is a good predictor of
future performance.”
The reality is that Owen Sound’s population
has remained virtually stagnant for decades while taxpayers continue to fund
economic development at more than $1 million a year.
It is time
to stop doing more of the same and expecting a different result.
Taxpayers deserve an economic development strategy that is
measurable, accountable and focused on results—not simply another
slogan or another annual expenditure.
If what we are doing isn't working,
change it.
It is time to BREAK THE MOULD.