Economic Development Initiatives
Economic development initiatives are policies and strategies, which can be undertaken by institutions or organizations aiming to improve the economic condition of a particular area. It needs to be noted that not always do economic development initiatives symbolize introduction of fiscal policies and strategies in the economy, but the same also takes into account initiatives and strategies that are taken to enhance the standards of living and empowerment. Enhanced standards of living and empowerment have an impact on the economic condition of a particular area. In this context, the paper attempts to evaluate one particular Economic Development Initiative adopted in Northern Ontario, Canada. The chosen initiative aims at benefitting education, immigration and communities through inclusion of English and French as official languages. The same is named Roadmap for Canada’s Official Languages 2013-2018: Education, Immigration, and Communities .
Economic development initiative in Northern Ontario Canada
The Roadmap for Canada’s Official Languages 2013-2018: Education, Immigration and Communities has been planned to bring into inclusion communities all across Canada, who would be able to access information and communicate using English or French Language. The policy aims at including English and French as official languages in Canada. The government specifically focuses on strengthening entrepreneurship, partnerships and diversification of economic activities and enhancing economic productivity. It is important to highlight the fact that the focus of the government is on the empowerment of the Official Language Minority Communities (OLMC) across Canada, whose inclusion in economy and commerce is regarded to be an important constituent in the development of the nation as a whole. It is regarded that small and medium sized industries in Canada account for substantial contribution to the nation’s economy and hence, the endeavor of inclusion of languages .
Identification of critical factors and aspects
Inclusion of communities is an important indicator of the national development in general and the economic development in particular. In case of the initiative undertaken in Northern Ontario, Canada, the aim is to focus on the OLMC’s who run and operate various small and medium enterprises. The collective performances of all these small and medium enterprises in any country also contribute to the economic growth in terms of GDP share. The same holds true for Canada. Another important factor that needs to be highlighted is that the inclusion of English and French as the official languages of Canada will also mean that substantial efforts are needed to amalgamate the interests of different communities belonging to different dialects. Even though it makes it necessary for the government to make a conscious effort, the anticipated benefits compensates government efforts adequately. This is because, as per the audit of the initiative, the expected results are improved communications and participation, increased development and absorption of youth to industry, increased opportunities of local economic development and better livelihood and standards of living, among many others.
Conclusion
Evaluating the anticipated benefits and the challenges in implementation of the Economic Development Initiative undertaken by the government, it is seen that the long term benefits compensates the short term challenges. Moreover, ease of access to information and communication due to presence of English and French as official languages in the country is expected to have a positive impact on the economic condition of the nation in the future.
References
Industry Canada. Audit of the Federal Economic Development Initiative in Northern Ontario (FedNor) — Northern Ontario Development Program (NODP). 19 November 2010. Online. 18 November 2014. <https://www.ic.gc.ca/eic/site/ae-ve.nsf/eng/03022.html>.
WEDC. Economic Development Initiative - What is the Economic Development Initiative? 13 March 2014. Online. 18 November 2014. <http://www.wd-deo.gc.ca/eng/11564.asp>.
