CEPCO was created in 1998 as a separate company. Abandoning
the municipal government-line department model, CEPCO sought
broader corporate powers through the removal of municipal act
limitations and saw the formation of a service agreement with
the City of Chilliwack to perform economic development. In order
to fund itself, CEPCO has generated revenues through land sales,
hotel tax, government partnerships, and private sector contributions.
This includes a long term funding commitment from the City of
Chilliwack of $750,000 per year, which includes the establishment
of own private sector Board of Directors appointed by City Council.
CEPCO reinforces its partnership model through local stakeholder
and community support.
CEPCO has identified downtown revitalization as one of its
key economic foci.
CEPCO created a "Made-in-Chilliwack" economic strategy
- based on a long-term vision and five-year plan. Based on fourteen
action items, this plan also saw the creation of three organizations:
Tourism Chilliwack, Chilliwack Agricultural Commission and Chilliwack
Business Estates.
The Chilliwack BIA was established in 1995, with an annual
budget of approximately $228,000. The first five years of this
initiative were spent on beautification of the downtown area.
To promote this strategy, the City of Chilliwack dedicated two
million for capital improvements.
The key components of the new downtown strategy enacted by
CEPCO are to focus on physical improvements through new regulatory
controls. New strategies will focus on customer development,
promoting the downtown as a vibrant and safe place. This new
strategy is based on the identification of economic and business
initiatives in the downtown, including new office development.
Arts, culture, and partnerships with First Nations have also
been identified as important factors to the growth and development
of the downtown. This includes the launch of the new campaign
"Downtown Works". The components and plans in planning
for this downtown strategy were approved by the determining three
parties: The BIA, the City and CEPCO.