AARON STONE
VANCOUVER ISLAND – Over the past year, First Nations, local governments, community organizations, industry associations, and regional economic organizations have partnered with Island Coastal Economic Trust to invest $3,469,835 in new sustainable development initiatives. These partnerships are unlocking total new investment of $12,589,796 into the region.
“The past year was one of moving forward in a great way with strategic priorities, including through our valued relationship with First Nations, local governments, industry, and the Province of British Columbia,” said Aaron Stone, Chair, Island Coastal Economic Trust, “In March, we welcomed new investment that is empowering us to move forward with island and coastal communities’ vision to transform the Trust into the first co-governed regional development organization in Canada.”
New partnerships with the Ministry of Jobs, Economic Development, and Innovation; Ministry of Transportation and Infrastructure; and a continued partnership with 4VI furthered the Trust’s impact this past year.
“Through our partnerships, the Trust has delivered several new programs that see communities advancing their priorities for inclusive economic development,” said Stone, “drawing on our uniquely community-led approach and strong relationships across the coast to create value with and for the people and communities we serve.”
As we move forward in all our work, we remain focused on creating significant economic and social value for Islanders and coastal people. We are incredibly grateful for the relationships we’ve built across the coast and the commitment our partners express with this, their Trust, when they invite us to co-invest in their projects and communities.
“In collaboration with First Nations, local governments, and the provincial government, we are creating the space and developing the pathways for Island Coastal Economic Trust to be the first co-governed regional development organization in Canada,” said Brodie Guy, CEO, Island Coastal Economic Trust. “We are honoured by the enthusiasm, support, and commitment from communities across Vancouver Island and the surrounding coast, and grateful to be advancing this work through close collaboration with First Nations governments, local governments, and the provincial government in the year ahead.”
As we begin this vital consultation process, inviting all 53 First Nations to share their vision for the Trust, we’ll also continue our core business – investing with communities across our region. Our Board of Directors has made $2.0 million available for new project investments this year, providing stability for coastal communities that rely on the Trust as a local, community-led, partner.
We invite you to explore our 2023-24 Impact Report, which highlights the incredible projects and organizations that strengthen our local economies and community wellbeing across Vancouver Island, the Sunshine Coast, and the islands and inlets from the Salish Sea to Cape Caution.
Our Impact in 2023-24
We target our funding into projects that realize a range of economic development across eight impact priorities. In 2023-24, we invested in 85 projects:
Our 2023-24 Impact Highlights:
40% of funds invested in First Nation-led or partnered projects
73 new business start-ups or expansions directly from project investments
55% of projects are led by organizations partnering with the Trust for the first time.
Source: ICET