Economic Development Week
Economic Development Week 2025
Economic development is vital work that happens behind the scenes to help communities grow and improve life for residents. To shine a light on this, the International Economic Development Council (IEDC) started Economic Development Week in 2016. This week is a global effort to show how local programs create jobs, help people find better careers, and boost the quality of life. It's also a time to thank the professionals who do this important work.
Why is raising awareness so important? Economic development involves long-term projects like improving roads, creating job training programs, and helping businesses. These efforts need public support and understanding. Economic Development Week helps people see the real value economic developers bring to their communities, making it easier to work together for future growth.
What Economic Development Does
Economic developers directly impact a community's economic health and quality of life. They work to create and keep good jobs, improve career options, enhance community wealth, and build a stable tax base. These professionals work for cities, counties, states, and other organizations.
Their work includes many activities: helping local businesses grow, attracting new companies, developing the workforce, planning infrastructure, supporting real estate projects, promoting the region, and creating plans for the future. It's not just about big businesses; it's about building a healthy community where people want to live and work. A good quality of life, with things like schools and parks, helps attract the skilled workers businesses need.
Economic development also helps communities become stronger and more resilient. The goal is "sustainable economic growth" and "vibrant, thriving regions". This means building communities that can handle economic challenges and support long-term prosperity for everyone.
How Communities Celebrate
Economic Development Week (EDW), established by the International Economic Development Council (IEDC) in 2016, is an annual event dedicated to highlighting the pivotal role economic development plays in fostering vibrant and sustainable communities worldwide. Scheduled for May 11–17, 2025, this week-long celebration acknowledges the efforts of economic development professionals and organizations in enhancing local economies and improving quality of life.
Hundreds of communities in North America celebrate Economic Development Week. They often use themes like "Celebrating the Power of Partnerships" or "Support Local".
Communities use the week to highlight their achievements. Governors and local officials issue proclamations. States announce new projects or positive economic rankings. Regions share their strategic plans.
In Canada, local economic development is often funded by municipal governments. The Economic Developers Council of Ontario (EDCO) sees the week as a chance to show Ontario's focus on growth and innovation. Communities across Ontario hold events to promote local programs and highlight collaboration. Canada as a whole uses the week to emphasize the importance of economic development for jobs and prosperity.
Celebrating Economic Development Week: Building a Future-Ready Canada Together
Economic Development Week highlights the impactful work of economic developers and local economic development teams who are shaping a stronger, more resilient Canada. Each year, this national initiative shines a spotlight on programs, partnerships, and professionals who are driving innovation, attracting investment, and building inclusive communities across the country.
These Economic Development professionals and municipal teams, including those from the City of Mississauga Economic Development Office, Brampton Economic Development Office, Toronto Global, Invest Ottawa, and Waterloo EDC, are leading the charge in fostering bold investments, cutting-edge innovation, and inclusive economic growth. Their efforts not only strengthen Canada’s global competitiveness, but also ensure a tariff-ready economy prepared to navigate and absorb the complex impacts of international trade policies and tariffs.
HKC Construction: Your Partner in Economic Growth
At HKC Construction, we’re proud to support Canada’s economic momentum by acting as a construction resource partner to startups, global enterprises, and municipalities across Ontario and beyond. Our specialized teams work alongside site selectors, economic development officers, and business leaders to provide insight on cost analysis, return on investment, and project feasibility for any type of facility.
Whether it's advanced manufacturing, innovation and technology, food and beverage processing, life sciences, healthcare infrastructure, or logistics and distribution, HKC Construction helps clients navigate the complex financial, logistical, and operational challenges of site development, facility expansions, or new builds across Canada.
Why top investors and companies choose HKC Construction:
Expertise in Canadian construction costs and trends
Partnership with municipal economic development offices
Proven support for international market entry
Understanding of tariff-ready and future-ready economies
Local knowledge with national reach and global insight
Connect with us at robertor@HKCconstruction.com – Let’s build the future together.
Collaboration is the Future of Economic Development
As IEDC President and CEO Nathan Ohle stated, “The future of economic development is centered around collaboration and partnerships.” This mindset is transforming how communities plan, invest, and grow. Strategic planning now involves community engagement, cross-sector partnerships, and strong collaboration among municipal, regional, and provincial economic agencies.
We see this in action with:
Mississauga’s innovation corridor
Brampton’s Centre for Innovation and Cybersecurity
Toronto's investments in life sciences and tech
Waterloo's AI and quantum computing ecosystems
Ottawa’s support for SaaS and clean tech ventures
This approach reflects a shift from focusing solely on capital projects to investing in people, partnerships, and place-based assets. The true strength of a city or region lies in its human capital, local culture, and unique economic DNA not just its infrastructure.
Conclusion: Support Your Local Economic Development
Economic Development Week reminds us of the hard work and strategic planning that fuel local economies. By recognizing these efforts and increasing public awareness, we help build the community support and stakeholder engagement necessary for long-term success.
How you can get involved:
Visit local EDO websites such as MississaugaEDO.com, investbrampton.ca, InvestOttawa.ca, WaterlooEDC.ca
Support local and regional businesses
Participate in public consultations and planning sessions
Engage with partners like HKC Construction for development insight
Economic Development Week is more than a celebration, it's a call to action. Let’s keep building smart, sustainable, and inclusive communities through collaboration, investment, and innovation.
Want to learn more about HKC Construction’s role in driving economic growth through sustainable building practices? Or ready to bring your next project to life?
Let’s connect today.
