The City of Terrace says it’s bringing economic development activities in-house.
City council voted 4-3 to end the city’s $165,000 contract with the Terrace Economic Development Authority effective September 30th.
TEDA was established as an arms-length economic organization in 1999 by the city and the Terrace and District Chamber of Commerce.
Terrace mayor Carol Leclerc admits there will be savings for the city, but she says that wasn’t the primary reason for the change. Leclerc says the timing was right.
The city says a new Economic Development Officer position will be created as part of the management team and will report to the Chief Administrative Officer.
It’s not clear what the move will mean in terms of job loss at TEDA or what will become of the TEDA office at the corner of Kalum Street and Lakelse Avenue.
Mayor Leclerc says more information will be forthcoming.