Visioning Initiative Factsheet

The following document is out of date.

An overview of WD's priorities

Through Western Economic Diversification Canada (WD), the Government of Canada promotes the development and diversification of the western Canadian economy and advances the interests of the West in national economic policy.  Following a series of roundtable discussions across the West and in Ottawa in 2006, the department re-focused its vision in the following three areas:  

1. Diversifying the western economy;
2. Strengthening business growth and competitiveness; and
3. Building strong economic foundations.

The visioning exercise confirmed the important economic challenges and opportunities facing Western Canada and the need for a renewed focus on economic priorities, and the economic growth and diversification objectives that form the core of WD’s legislated mandate.

Diversifying the western economy

WD supports the economic growth and diversification of the western economy by advancing technology commercialization; supporting research and development (R&D); facilitating the development of business clusters in vital growth sectors; increasing value-added production in traditional resource and manufacturing sectors; and promoting rural diversification.

Strengthening business growth and competitiveness

WD strengthens the competitive position of western businesses in the global economy by working collaboratively with business service organizations and associations to improve international competitiveness and remove barriers to growth.  These efforts include initiatives designed to: improve access to risk capital; increase business’ access to key international markets (e.g.: U.S. and Asia-Pacific); and strengthen business productivity and management skills.

This is accomplished by supporting projects that improve competitiveness such as lean manufacturing and export preparedness.

Building a strong economic foundation

WD makes strategic investments in economic and business infrastructure, such as trade corridors and innovation centres, that have a broad economic impact.  The department supports activities that lead to an improved understanding of the western Canadian economy through research and networking of industry, governments and the non-profit sector. 

WD plays an important role championing western Canadian interests in national economic policy, program and project development, and implementation.  WD also addresses Western Canada’s economic issues through innovative partnerships and federal programs that respond to western needs.

Through investments in infrastructure and knowledge, WD seeks to create a solid foundation upon which to build the western economy of the future.

Key outcomes of the visioning initiative

During the consultations, WD also received specific feedback on how the department should refocus its efforts.  In response to feedback from stakeholders, the department will undertake the following:

• Increase emphasis on coordinating economic initiatives and projects across the West through investments that support pan-western or multi-regional collaboration.
• Continue the present policy of not providing direct financial assistance to business, but advocate and explore innovative approaches and mechanisms to address the lack of risk capital and funding available to support business innovation, and the commercialization of new ideas, products and technologies.
• Support a limited number of conferences that address economic issues of significance to the West, advance WD priorities and demonstrate that WD’s financial support is both significant and instrumental to the event proceeding.
• WD’s core programs and services will support projects that have an economic focus, but not support projects with social, cultural or other indirect economic objectives.
• WD funding for Urban (Economic) Development Agreements will be directed to initiatives that are clearly economic in nature rather than those having a socio-economic or cultural focus.
• Delivering programs for other federal government departments will be linked to WD’s economic mandate and priorities.