Fine tuned with a new business approach and improved accountability, the Windsor-Essex Economic Development Corporation is boasting some of its best results in recent years.
The most notable jump -- area businesses invested $224-million across Windsor-Essex in 2015 compared to $100-million in the previous year, a 124% increase.
In terms of jobs, the corporation helped create 942 new jobs last year compared to 800 in 2014.
Dozens of politicians, business leaders and stakeholders attended WEEDC's annual general meeting Wednesday morning at the Ciociaro Club.
Interim CEO Rakesh Naidu says improved accountability fueled by a new business approach helped achieve better results.
"While we're very interested in working and supporting young entrepreneurs in small businesses, part of our business is to go after big clients -- small, medium and large-scale companies, all of them," says Naidu.
Board chair Marty Komsa. (Photo by Jason Viau)
The WEEDC team is chasing 58 active files, 21 are considered "hot," which means officials feel they have a good chance of landing that investment. Naidu says in the coming months he's confident some announcements will be made about new investments. Although very tight-lipped, he did say the pending jobs will further diversify the Windsor-Essex economy.
Aside from economic development, last year came with another set of challenges following Sandra Pupatello's surprise resignation as CEO.
Although she's been gone since last summer, WEEDC staff reflected Wednesday morning on a move that "shook the organization" and sent morale plummeting around the office. Her departure forced the corporation to overcome what's described as a challenging time, even as the economy was still recovering. Board chair Marty Komsa said the organization's focus "shifted only slightly."
"We had to do better, faster and now with less resources," says Naidu.
Now, Windsor's jobless rate has fallen to 6.4% in April down from 9.3% in January -- a very good sign, they say, for the city once known as the unemployment capital of Canada.
The board says a permanent CEO should be announced in early July.
