Cochrane Five Year Strategic Plan | Page 6

Town of Cochrane Strategic Plan – Final Report October 2014 Foreword In early 2013, the Town of Cochrane determined a need to develop a five-year community strategic plan. The municipality wanted to identify strategies that will improve the community’s economic outlook and quality of life. The Steering Committee sought a coordinated, communitycentred strategic plan to help the municipality and its partners capitalize on emerging opportunities and competitive advantages. As with many small communities with commodities-based economies, Cochrane faces increasing challenges in economic diversification, population retention, and infrastructure development. The municipality acknowledges the difficulty of balancing quality of life with the realities of a diminishing tax base. They also recognize that strategic planning can help focus limited resources on priority issues by guiding decisions on “what’s in” and “what’s out.” The strategic planning process itself is extremely valuable, as it can help stakeholders understand the need to prioritize, and the risks attached to trying to be all things to all people. When key stakeholders are engaged to the extent that they have opportunities to buy into the plan, chances of successful implementation are much higher. The purpose of this strategic plan is to identify realistic short-, medium- and long-term economic and community development opportunities that address the Town’s vision and mission. This document contains eight major sections: 1. Executive Summary 2. Vision and Mission 3. Community Engagement Process 4. Environmental Scan 5. SWOT Analysis 6. Proposed Strategic Directions and Opportunities 7. Opportunity Feasibility and Alignment 8. Implementation Plan Acknowledgements The consulting team would like to thank the Cochrane Strategic Planning Committee for its guidance, commitment and assistance throughout the process. Economic Development Committee Members Peter Politis Drew Anwyll Stephen Depow Maryjane Archibald Anne-Marie Law Julia Martin Dennis Draves Victoria Barrington Laura Labelle Donald Narbone Dan Cook Resource Members Joel Richard Marlene Lamarche Stephane Gallant Denis Berube JP Ouellette 4