Thank you to Nancy Toombs, Marketing Communications for Economic Developers Alberta, for providing this guest blog post. We are pleased to have collaborated with EDA on this new online course.

Imagine this. You’re an economic developer shaping your community’s economic development strategy. Your goal is to improve the quality of life and economic well-being by addressing challenges and promoting local growth.

It’s a significant responsibility.

As you assess the landscape of your community, you notice some gaps. Perhaps there are deficiencies in essential services like affordable childcare, limited grocery options, or insufficient financial services. That’s when you consider the co-operative model as a viable solution.

But how do you advance co-operatives in your community? What actionable steps can you take to recognize, create, and support cooperative businesses that can thrive and meet local needs?

Economic Developers Alberta (EDA) and Co-operatives First have created a groundbreaking training program designed for economic developers. Called “Co-operatives and Economic Development,” this course is available through the newly established EDA Institute — a comprehensive suite of online and in-person training opportunities to advance your expertise in community economic development.

What’s a co-operative again?

At its core, a co-op is a business owned and managed by individuals with a shared interest. Members make decisions collectively and share profits, fostering a sense of community and trust. This course will equip you to explain the value of this model to clients, colleagues, and community members. It highlights how co-operatives provide essential services that might otherwise be unavailable.

The role of co-operatives in economic development 

As you build your strategy, you conduct community surveys and engage with residents to understand their challenges. You might discover that many families struggle to find reliable childcare, forcing parents to make tough choices about work and family. Traditional business models often fail to address these community needs, particularly in underserved markets.

Co-ops are a great tool for filling these gaps, often outperforming their competitors in two key areas: earning trust and benefiting the local community. They address social and economic challenges while ensuring profits remain in the community, supporting local growth and sustainability. For example, Federated Co-operatives Limited (FCL) was founded in 1944 to support the growing network of local co-ops across Western Canada. FCL provides wholesale products and services to its member co-operatives in sectors like retail, agriculture, and energy, helping to strengthen the Western Canadian economy. Over time, FCL has become one of Canada’s largest co-ops, playing a key role in promoting sustainability, community development, and economic resilience in Alberta and beyond.

Through the EDA Institute’s course, you’ll learn how to create and advise on co-operatives, gaining the skills to identify where they might fit in your community and how to integrate them into your broader economic development strategy.

Building cohesion and local resilience

The course also explores how co-ops can help build cohesion within communities. By bringing residents together to leverage existing resources, you can effectively respond to challenges and create a more resilient local economy. Co-ops offer versatility, allowing for various ownership models—consumer-owned, employee-owned, or community-owned. Understanding these options will enable you to guide entrepreneurs interested in starting new co-operatives that align with community needs.

Your role in economic development

Co-operatives are a powerful tool for nurturing entrepreneurship while reflecting shared values and aspirations. The”Co-operatives and Economic Development” course will equip you with the knowledge to provide essential guidance and support to those starting co-ops in your community.

Enrol today: Co-operatives and Economic Development

About Economic Developers Alberta (EDA)

As Alberta’s only professional organization for economic developers, EDA provides a vibrant network of professional development, information, and networking opportunities. By empowering economic development activities in Alberta, EDA enables professionals to drive sustainable growth and prosperity in their community.