Image: A street lined with retailers in Abbotsford / File / Oleg Mayorov / Dreamstime

By Fraser Valley Today Staff

Civic program

Abbotsford unveils updated business strategy to support local economy

Dec 14, 2024 | 7:00 AM

ABBOTSFORD — The City of Abbotsford has released an updated Business Retention and Expansion Strategy and action plan that it says will strengthen the local business landscape and solidify its position as the economic hub of the Fraser Valley.

The updated strategy, developed through extensive consultations with stakeholders and insights from the City’s Economic Development Table, outlines steps to support Abbotsford’s 7,700 businesses.

“As the economic hub of the Fraser Valley, our goal is to create an environment where local businesses can thrive, attract new investments, and foster innovation and growth,” said Abbotsford Mayor Ross Siemens. “It reflects Abbotsford’s commitment to being a business-friendly city full of economic opportunity, where people can live, work, and invest long term.”

Key components of the strategy include streamlined municipal processes, new online resources through a “one-stop shop” webpage, and enhanced business communication initiatives. In addition, the plan demands collaboration with education providers to address workforce needs and engagement with local First Nations on economic development issues.

The City has already launched a revamped webpage featuring a Business Hub and online Business Resource Guide. Early next year, a comprehensive Business Visitation program will begin, including spotlights with the mayor and council to showcase Abbotsford’s diverse business sectors.

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The City says the updated approach aligns with Abbotsford’s 2022-2026 Strategic Plan, which prioritizes fostering a vibrant economy.