Parry Sound Area Market Study & Gap Analysis Adopted

The Municipality of McDougall, Town of Parry Sound and Seguin Township believe appropriate economic development in one municipality is beneficial for all three. As such they build economic capacity together, in partnership with the Community Business & Development Center Inc., as the Parry Sound Area Development Community. REDAC was created to assist in the realization of the Development Community's vision to be a progressive and diverse economic center. The volunteer committee works with municipal, provincial and federal staff to facilitate initiatives which support, stimulate and enhance economic growth and development in the community. 

In December of 2007, REDAC retained the services of Malone Given Parsons Ltd. to complete a Market Study & Gap Analysis of the Parry Sound Area Development Community. Supporting information for the study was gathered through interviews with the municipal planning offices, workshops with local business owners, and a series of area economic reports. Using this information, the report characterizes the area and the conditions shaping it, in order to identify current gaps, prospective industries and the skills and resources required to accommodate these industries. 

 “The gaps and growth areas have been identified to improve efficiencies because they compliment our existing industries, facilities and natural environment. The entire West Parry Sound Area will see healthy growth over the next decade and it will be important that we have the required skills, resources and infrastructure to maximize our potential”, says James A. Beatty, the REDAC chair. “Great opportunities lie ahead.”

The adoption of this study signifies the completion of the analysis phase of the project. The Market Study & Gap Analysis will then become a working document whereby the steering committee will begin creating and acting upon an implementation plan.

The Northern Communities Investment Readiness Program (NCIR) administered by the provincial government provided funding for 75% of the Market Study & Gap Analysis project costs. Contributions were also received from the Local Initiatives Program (LIP) through the Parry Sound Area Community Business & Development Center and from each participating municipality.