Mayor Spencer Coyne has put forward several recommendations to strengthen Princeton's economy and ensure the community remains thriving and resilient in the midst of the ongoing trade dispute between the United States and Canada.
At the March 5 council meeting, Coyne and staff announced that they will undertake a local businesses campaign, a tourism plan, a business and economic growth plan, government advocacy, a Canada first policy, and an initiative to strengthen Princeton Industrial Park.
The Town of Princeton will be collaborating with the Chamber of Commerce to launch a campaign encouraging local shopping and highlighting Princeton's many local businesses, allowing the community to support jobs, families and local investments.
The director of economic development and tourism will be presenting a plan to attract more visitors to the town, especially in light of Premier David Eby calling on British Columbians to travel within the province this year instead of travelling to the States.
"More tourists means more customers for local businesses such as hotels, restaurants, shops and services, and a busy tourism season leads to more job opportunities, increased town revenue and improvements to local amenities," stated Coyne.
The town is also looking at ways to help new businesses start up while supporting current industries in and beyond traditional sectors as well.
"More job opportunities and a more stable community will stem from a more diverse economy, and this initiative supports entrepreneurs and makes Princeton an ideal place to start and grow a business," added Coyne.
Coyne will continue engaging with provincial and federal governments to fight for Princeton's needs, as government support is crucial in funding local projects, improving infrastructure and bringing economic development opportunities to town. His hope is that advocacy ensures that Princeton gets a fair share of resources while also ensuring that their voices are heard by decision-makers.
Princeton is also reviewing its Industrial Park Revitalization Tax Exemption Bylaw to see if any updates are needed to attract more businesses, as new businesses in the Industrial Park mean more jobs and a boost to the local economy. A strong industrial sector supports families, provides steady employment and keeps the town growing.
"As the tariff dispute evolves, council will continue to adjust its response accordingly," Coyne stated. "Council's primary objective throughout this dispute is to leverage the tools provided in the Community Charter to promote economic growth and resilience, actively working to safeguard jobs and support the local economy."
Coyne added that Princeton is a community that is defined by its resilience, innovation and entrepreneurial spirit.
"By working together, we can cultivate a thriving, diverse economy that not only withstands external challenges but also creates opportunities for long-term prosperity for generations to come."
