Economic Development
Economic development is a pathway to independence, and Castlemain is a recognized leader in supporting Indigenous communities achieve their economic development goals, while remaining focused on the values and priorities of their communities and members.
We work with our clients to build solid economic foundations for their communities. Using a three-stage approach, we address critical questions in order to connect the dots between the community’s economic vision, and the actions required to achieve it. We also customize this approach to the needs/situation of our clients, or if certain stages are already complete.
Economic Development Services
At Castlemain, we view economic development as three-stage process:
Stage 1: Community Assessments
Answers key questions regarding why economic development is important to the community, and what the internal and external economic dynamics are like right now in the community.
- Situational assessment – understanding why economic development matters, and what economic development looks like in the community.
- Organizational assessment – understanding the capacity and constraints of the community to engage in meaningful economic development opportunities.
- Opportunity assessment – understanding the scope and scale of economic development opportunities available to communities in their traditional territories and beyond.
Stage 2: Design and Build an Economic Framework for Success
Building on the findings in stage 1, stage 2 identifies the strategic goals, governance and accountability mechanisms, corporate, legal and taxation structures, partnership and procurement platforms, and management, resourcing, and operational requirements to achieve economic success for the community.
This stage answers question about how and what economic development will look like for the community.
Stage 3: Implementing the Economic Framework for Success
Working directly with our clients, stage 3 focuses on implementation of the strategic, governance, and operational elements of the economic framework designed in stage 2.
This stage answers questions regarding who is involved, and when and where economic opportunities are realised for the community. This is the most exciting stage where clients and communities connect the dots between vision and action.
Capacity Building Services
The knowledge and skills of individuals and teams across governance, management and operational roles determines the success of a community’s economic development strategy. Castlemain works directly with clients to identify capacity gaps – human, organizational, capital, etc., and works with them to address these gaps over the long-term. Building skills and promoting careers at all levels is the goal we set for ourselves in our support to Indigenous clients.
By focusing on the capacity building elements of an economic development strategy, we believe clients will be in the best position possible to achieve their economic goals and community aspirations.
