Communities have been built on the foundation of citizens pooling their resources to fill gaps and ensure needs are met.
The new Stettler Opportunity Development Cooperative ((ODC) does not stray far from the origins of community building, according to a release.
“A grassroots committee has formed to address gaps in the Stettler community and look for opportunities to support a new business with local capital matched by a contributing partner. This is a made‐in‐Stettler solution to ensure support within the community, create stable jobs, use local suppliers and fill gaps in community professional and retail offerings.”
Stakeholders say that support from the Alberta Community & Cooperative Association and Peavey Mart, a division of Peavey Industries has been crucial in guiding the committee’s formation, sharing with them with a strong representation and understanding of the founding principals of a cooperative.
“The ACCA’s experience and Peavey’s commitment to match local capital raised, have been vital in moving the founding committee ahead,” noted the release. “We look forward to continuing these relationships as the cooperative continues to form.
There are great examples of successful opportunity development co‐operatives that have directed local capital to local projects – Battle River Railway raised investments from hundreds of local farmers and investors to revive a short line rail that is now one of the most successful in the country – see https://battleriverrailway.ca/.
The Sangudo Opportunity Co‐operative has raised millions to support a range of local businesses - see https://sangudocoop.weebly.com/.
Local Invest YYC is supporting a range of small businesses to expand and create jobs ‐ https://localinvestingyyc.ca/.
“We can do this in Stettler too!”
Doug Anderson, president and CEO with Peavey Industries said, “We value the rural districts we serve and are committed to building better communities through ongoing support of area groups, events and organizations.
“That said, the Stettler ODC project is something different for us, highlighting our desire to continue to expand on our community initiatives, but in new, interesting and exciting ways.
“We appreciate the loyalty our customers show us every day and directing our efforts back into the communities in which they live and work, is the best way we know to show our appreciation and respect.”
Damian Zapisocky, SVP of Corporate and Strategic Development at Peavey Industries added, “We will continue to initiate ODC opportunities in other communities and Provinces, but Stettler will be our first.
“We wanted to start close to home, our corporate head office is in Red Deer, and with the strong relationships fostered by Matt and the entire Peavey Mart staff in Stettler – this community stood out as the obvious first choice. We are excited to work together with the Stettler ODC on this outstanding development initiative.”
The ODC founding committee is reaching out to the community for ideas as to what they think would be a feasible service or product that could be supported locally.
“We encourage you to complete an idea form that will soon be available at www.stettlerboardoftrade.com or at the Stettler Regional Board of Trade office.
The completed form can be emailed to PeaveyODC@PeaveyIndustries.com.
Following the open house and assessment of interest, the founding committee structure will be adjusted to ensure the inclusion of citizens with experience and knowledge in the area of the determined investment concept.
All members of the community will have an opportunity to purchase shares and invest directly into their own community.
An Opportunity Development Cooperative creates an opening for town and area residents to invest locally rather than seeing their money leave the community.
The ODC allows investors to purchase shares and see a return on their investment. Imagine what could happen when you invest directly into your own community.
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