Innovation Area

In April 2023, Council approved funding for further due diligence to establish the feasibility of creating an Innovation Area to maximize economic development on District-owned lands in the Squamish Business Park. This project is meant to:

• Determine the highest and best use of these lands and to identify a vision and the key components of what constitutes an Innovation Area in Squamish;
• Create a plan for land development; and
• Identify the potential revenue proceeds the District can generate from the lands to support other District facility investments.

Through this initiative, the District is identifying ways to accommodate our present and future needs in our growing district, while addressing municipal priorities, including the objectives of increasing economic activity and employment lands and spaces, as identified in the 2023-2026 Strategic Plan.

In August 2023, the District hired an external consultant team to support this project and provide expertise in urban planning and design, transportation and parking, and industrial development.

Innovation is key to community wellbeing and economic prosperity. It tackles major challenges, attracts talent and investment, and leads to the development of more innovative solutions. Innovation as a foundational principle of our community can be used to plan, strategize, and guide decision-making for opportunities large and small.

The District’s Emerging Sector Roadmap and Action Plan (2020) identified the pivotal role of fostering local innovation in establishing a solid economic foundation. In 2022, the District established the Innovation Working Group comprised of dedicated volunteers who, together with the District, released an Innovation Roadmap. The Roadmap focuses on developing the innovation ecosystem, contributing to the development of a resilient and diversified regional economy.

The District of Squamish looked at various approaches to develop innovation ecosystems. The findings revealed that key factors for successful innovation ecosystems include partnerships with higher education, an entrepreneurial culture, specific innovation infrastructure, a high quality of life, collaboration, networking, and access to capital and incubators.

The Innovation Roadmap was endorsed by Council in October 2023.

An innovation area is a cluster of interconnected organizations (companies, academia, institutions, entrepreneurs, start ups) that converge on similar goals to create a synergistic relationship between people, firms and places to foster innovation (create new or better ideas, products, services, technologies or processes).

The potential Innovation Area is currently being reviewed as part of the Pre-Development Project which will be shared with the public in 2024. Specifically, the District is reviewing:

• The feasibility of creating an Innovation Area on District-owned lands in the Squamish Business Park to maximize the economic development opportunities of these lands including increased economic activity in core, enabling, and emerging economic sectors identified in the Economic Development Sector Strategy.
• The potential to generate proceeds from these lands to support both current 5YFP commitments and future major recreational facility investments at Brennan Park.