The Town of Okotoks will be undergoing an extensive Economic Development Plan over the next five years.

The new initiative is called "Together We Can" and Shane Olson, the Town's economic development manager, says the plan is going to cover many aspects of economic growth.

"[The plan is to] create an ambitious economic development plan that is more than just the Town of Okotoks Economic Development Office," he says. "It will take an entire community of stakeholders and partners to implement so it's all about collaboration and working together to achieve a list of action items to move Okotoks forward in a variety of areas."

"Together We Can" will cover four different goals called "Big Hairy Audacious Goals" or BHAGs.

The BHAGs are listed below with an explanation by Olson:

1.) We are a "Yes We Can" community

"It's this notion of removing barriers and creating a business friendly community".

2.) Create a vibrant downtown with three anchors

"To develop a downtown that has three anchors, whatever those anchors might be, we've heard a public plaza, public market and perhaps something to do with performing arts in the vicinity of the downtown."

3.) We are an "Active Transportation" community

"That's the idea of looking at our pathways and connecting into the community."

4.) Okotoks is an "Intellectual Property Leveraged Business Centre"

"That's all about looking at immigrants in terms of our attraction strategy, looking at entrepreneurship and innovation, developing broadband or fibre optics may be a key focal point to advancing those interests," he says.

When it comes to the plan itself, Olson says they need to continue to find ways to improve the local economy.

"We're at the tipping point if you will of trying to create living wage opportunities now," he says. "We're looking for ways to bring some of those commuters back home, to bring our youth that have left the community perhaps back to Okotoks and to attract people from other provinces to come here and settle here and maybe open a business in our community."

The "Together We Can" Economic Development Strategic Plan is set to begin in 2016 and go until 2020.

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