On February 27, 2006 the government of British Columbia enacted legislation launching the Southern Interior Development Initiative Trust with a $50 million one time allocation paid into a Regional Account. The Trust has the full powers and capacity of an individual and is not an agent of the government. The objective of the Southern Interior Development Initiative Trust is to help grow and diversify the economy of the Southern Interior of British Columbia through economic development initiatives in 10 key sectors. Governance of the Trust is the responsibility of a 13 member Board of Directors. Four Directors are appointed by each of two Regional Advisory Committees (RACs) representing the Columbia Kootenay and Thompson Okanagan regions. The remaining five directors, all of which are from the Trust area, are appointed by the provincial government. RAC membership is comprised of local government elected officials and members of the Legislative Assembly, from the region.
Friday, July 25, 2008
Thursday, May 15, 2008
SIDIT Annual Meeting
Interested parties are invited to attend the Southern Interior Development Initiative Trust’s 2nd Annual General Meeting to be held at St. Eugene Golf Resort, 7777 Mission Road, Cranbrook, BC on June 5th, 12:30 – 1:30 PM. The Southern Interior Development Initiative Trust was created by an Act of the British Columbia legislature with an allocation of $50 million to support economic development initiatives throughout the southern interior. Those planning to attend are encouraged to contact the Trust before May 30, by email at admin@sidit-bc.ca or phone (250) 545-6829.
----------
The Southern Interior Development Initiative Trust (SIDIT) Board of Directors adopted its 2008-2010 Strategic Plan March 19, 2008. Continuing on the course set last year, the Trust will continue to support economic development with an annual allocation of $7.5 million. SIDIT’s 2008 fiscal year runs from April 1, to March 31. Fiscal 2007 was SIDIT’s first full year of operations. A number of strategic alliances were formed throughout the year which will greatly enhance SIDIT’s future ability to attract and fund projects that help diversify and sustain the economy in the Southern Interior. SIDIT made funding commitments in excess of $8.4 million in fiscal 2007.
--------------------
Don Quixote Note: This was the new grant Initiative that the O'keefe Ranch first turned to with no success. A list of their funding commitments in fiscal 2007 can be found at SIDIT press releases.
Some of the local directors who sit on this board are:
Jim Thomson, Kamloops, Chairperson
Mayor Sharon Shepherd, City of Kelowna
Mayor Jake Kimberley, City of Penticton
Mayor Marty Bootsma, City of Salmon Arm
Mayor Wayne Lippert, City of Vernon, Vice Chair
Sunday, March 30, 2008
Large donation will help students (SIDIT bellies up to bar with money.)
Okanagan students will be getting their share of financial support over the next three years. The single largest donation for student awards in the history of Thompson Rivers University, Okanagan College, Selkirk College and College of the Rockies, a total of nearly $7 million, was announced Friday in Kamloops by Jim Thomson and Soren Harbel. “The total package includes a $2.4 million fund for Post-Secondary Trades and Technology Awards, a $1.5 million fund for Secondary School Awards, along with a $3.04 million fund supporting research, innovation and entrepreneurship to be jointly funded by SIDIT and BCIC, who have contributed $ 1.52 million each,” says Thomson, Chair of the Southern Interior Development Initiative Trust. Harbel, VP, Innovation Development of BC Innovation Council, says the BCIC programs will support students, faculty, post-secondary institutions, industry organizations and companies involved in the areas of technology innovation, research, development and commercialization. “The Council is excited to be joining forces with SIDIT to promote innovation and commercialization in the Southern Interior,” says Harbel. “The potential and talent is strong in this region, laying the ground work for great opportunities to strengthen B.C.’s knowledge economy and business growth.”
-------------------
Don Quixote Note: This is the 2nd major announcement for SIDIT. On February 13, 2008 SIDIT and Private Investment Fund reach Terms of Agreement:Kamloops. Jim Thomson, Chair of the Southern Interior Development Initiative Trust (SIDIT), is pleased to announce an agreement with the Southern Interior Innovation Fund Inc. (SIIF) for up to $2 million to support economic development in the Southern Interior.
Friday, February 29, 2008
SIDIT and Private Investment Fund reach Agreement:
TMTV/BCTV Kootenays Feb 13, 2008 -
Kamloops B.C.. Jim Thomson, Chair of the Southern Interior Development Initiative Trust (SIDIT), is pleased to announce an agreement with the Southern Interior Innovation Fund Inc. (SIIF) for up to $2 million to support economic development in the Southern Interior. Stafford McKergow, Chairman of the Southern Interior Innovation Fund commented, “We are excited to be partnering with SIDIT. The $2 million commitment from SIDIT to our new Private Equity Fund will help SIIF with our goal of raising $10 million. With an expanded geographic reach to include the entire Southern Interior, this new fund will build on the success of the original Okanagan Innovation Fund by continuing to invest in, mentor, and help grow the most promising Southern Interior companies.” “Our objective is to help grow and diversify the economy of the Southern Interior of British Columbia through economic development initiatives in 10 key sectors”, explained Jim Thomson, Chair of SIDIT. “Each of these initiatives aims to drive and remove constraints to economic development. By partnering with existing institutions, to provide businesses with access to loan and equity financing, we are doing this in the most efficient, effective and sustainable way possible.” SIDIT is a Public Trust created by the Province of British Columbia with a $50 million allocation to support economic development in the Southern Interior. Governed by a 13 member Board of Directors representing local government and the private sector, SIDIT focuses on opportunities that demonstrate measurable and sustainable economic benefits.In existence for two years SIDIT has concentrated on developing the processes and strategic alliances necessary to truly make a difference in the economic well being of communities in the Southern Interior. In the weeks and months ahead SIDIT is poised to make announcements on a number of exciting initiatives.
For more information visit SIDIT’s website at www.sidit-bc.ca.
------------------
Don Quixote Note: I had posted on Feb 22 that Sidit hadn't used any of their Grant Money as we approached their first anniversary of Feb. 27. Apparently they had slipped out this announcement but didn't post to their website until after the 23rd or later. It appears that this new Southern Interior Innovation Fund Inc is either a part of the Okanagan Innovation Fund Inc. or at least has a similiar directors:
Okanagan Innovation Fund Board of Directors:
Paul Mitchell, /Chair Anne Clarke
Lorraine McGrath, /Vice-Chair Stafford McKergow
Ben Stewart, /Bill Redmond
Mel Kotler , /George Galbraith
Steve Thomson, /David P. Willis
Stafford McKergow, Chairman of the Southern Interior Innovation Fund commented, “We are excited to be partnering with SIDIT. The $2 million commitment from SIDIT to our new Private Equity Fund will help SIIF with our goal of raising $10 million. With an expanded geographic reach to include the entire Southern Interior, this new fund will build on the success of the original Okanagan Innovation Fund by continuing to invest in, mentor, and help grow the most promising Southern Interior companies.”
“Our objective is to help grow and diversify the economy of the Southern Interior of British Columbia through economic development initiatives in 10 key sectors”, explained Jim Thomson, Chair of SIDIT. “Each of these initiatives aims to drive and remove constraints to economic development. By partnering with existing institutions, to provide businesses with access to loan and equity financing, we are doing this in the most efficient, effective and sustainable way possible.”
Saturday, February 16, 2008
SHOW US THE MONEY (SIDIT $0 NDIT $32.9 Million) 2nd Year Anniversary for SIDIT on Feb. 27
On February 27, 2006 the government of British Columbia enacted legislation launching the Southern Interior Development Initiative Trust with a $50 million one time allocation paid into a Regional Account. The Trust has the full powers and capacity of an individual and is not an agent of the government. The objective of the Southern Interior Development Initiative Trust is to help grow and diversify the economy of the Southern Interior of British Columbia through economic development initiatives in 10 key sectors.
Governance of the Trust is the responsibility of a 13 member Board of Directors. Four Directors are appointed by each of two Regional Advisory Committees (RACs) representing the Columbia Kootenay and Thompson Okanagan regions. The remaining five directors, all of which are from the Trust area, are appointed by the provincial government. RAC membership is comprised of local government elected officials and members of the Legislative Assembly, from the region.
Jim Thomson, Kamloops, Chairperson
Mayor Ross Priest, City of Cranbrook
Mayor Sharon Shepherd, City of Kelowna
Mayor John Dooley, City of Nelson
Mayor Jake Kimberley, City of Penticton
Mayor Greg Deck, Town of Radium Hot Springs
Mayor Marty Bootsma, City of Salmon Arm
Mayor Wayne Lippert, City of Vernon, Vice Chair
Josh Smienk, Area Director RDCK
Cindy Popescul, Cranbrook
Chief Shane Gottfriedson, Kamloops Indian Band
Chief Clarence Louie, Osoyoos Indian Band
Christa-Lee McWatters Bond, Summerland
Monday, December 17, 2007
SIDIT is squirreling away that money for the Vernon Civic Complex approval in 2008 ?
As the 2007 year ends it is that time when we view the accomplishments of the Southern Interior Development Initiative Trust
The BC Government has established a $50 million Southern Interior Development Initiative Trust. The trust was created in September 2005 to support strategic investments in the economies of the Southern Interior. The trust will operate free of provincial interference as independent entities to create economic growth and more jobs based on regional priorities.
A Video detailing the promise of this Trust is located here.
SIDIT website NDIT website