Economic Development
Economic development is a pathway to financial independence, meaningful employment and career development opportunities. Castlemain is a recognized leader in supporting Indigenous communities to achieve their economic development goals, while remaining focused on the values and priorities of their communities and citizens.
Services Offered
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 and situations of our clients, or if certain stages are already complete.
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
- Organizational assessment
- Opportunity assessment
Stage 2: Design and Build an Economic Framework for Success
Stage 2 identifies the requirements needed to achieve economic success for the community. This can include reviews and development of strategic goals, governance structures, and accountability mechanisms. The community/economic development entities also need to consider corporate, legal and taxation issues as well as potential and existing partnerships and procurement platforms. Finally, the day-to-day management, resourcing, and operational requirements of the community/economic entities are reviewed during this stage.
Stage 3: Implementing the Economic Framework for Success
Working directly with our clients, stage 3 focuses on implementation of the governance, strategic and operational elements of the economic framework designed in stage 2. This is the most exciting stage where clients 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 our 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.
