THUNDER BAY – BUSINESS – Steve Demmings, the CEO of the Thunder Bay Community Economic Development Commission (CEDC) for the past six years, has announced his intention to retire effective March 22 of this year. Mr. Demmings was chosen as the founding CEO of the CEDC, to implement the mandate to grow and diversify the economy of Thunder Bay.
Over the past six years the CEDC has diligently worked with stakeholders in the private and public sectors to fulfill this mandate.
During the six years Mr. Demmings has served as CEO, much progress has been made toward building a strong foundation for further growth and diversification of the Thunder Bay economy. While the unemployment rate for Thunder Bay has improved from 7.6%, six years ago to 5.0% today, much remains to be accomplished.
The CEDC Board of Directors will immediately initiate a nation-wide search for a candidate to succeed Mr. Demmings as CEO of the CEDC.
In the meantime, the Board of Directors would like to thank Steve for his dedication and commitment, and for his hard work in helping to promote economic development for our community, and wishes him all the best.
Incorporated in December 2006, CEDC is an arms-length Community Development Corporation, led by an independent board with core funding from the City of Thunder Bay. The mandate of the CEDC is to operate in a way that is:
- Project based
- Business led
- Partner driven
- Community supported
CEDC receives formal proposals on projects that will contribute to economic development. It responds quickly to new opportunities and initiatives to attract direct financial involvement from government and private sectors. CEDC’s staff will assist your business with attaining essential information for decision making.