Regional Innovation Chair in Rural Economic Development (RIC)

The RIC was formally established in 2006 to conduct a program of research in rural economic development. The position is supported through an endowment established under the BC Leading Edge Endowment Fund, which included matching funding from non-government sources. 

Goals of Regional Innovation Chair

Based on a foundation of applied research and outreach, the goals of the Regional Innovation Chair in Rural Economic Development are to:

• Develop the capacity in the region for sound decision-making in matters related to economic development, through the provision of relevant research data and analysis, together with related skill and capacity development;
• Assist in the diversification of the regional economy through the promotion of innovation and technology transfer in existing and new enterprises; and
• Support provincial and national networks that undertake applied research on the revitalization of high amenity, highly rural communities and regions.

Outcomes Expected

The work of the Regional Innovation Chair will aim to improve the economic climate of rural communities in the region by supporting evidence-based planning and decision-making.  Expected outcomes include:

• Better understanding of the challenges faced by rural areas, leading to more effective policies, programs and regulations;
• Greater capacity within regional and local organizations involved in economic development;
• Better informed decisions by both public and private sector organizations;
• Assistance in development of strategic directions for investment and economic development within the region;
• Innovative, more effective and greater levels of public and private sector investment;
• Diversification and innovation in telecommunications and the knowledge sectors;
• Increased employment or, at the very least, stabilizing existing employment levels and security of income; and
• Greater economic diversity within both regional and local economies.