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## Maple Ridge Economic Development Summit Overview

In October of this year, the City of Maple Ridge hosted an economic development summit with a focus on supporting small businesses and local economic growth.

### Federal Support for Small Businesses

The summit featured a video message from the federal Minister of Small Business, Rechie Valdez, highlighting the importance of small businesses in the Canadian economy. With 98 per cent of businesses in Canada being classified as small businesses, the impact they have on the daily lives of Canadians is significant.

### Local Economic Strategies

Maple Ridge’s key economic development strategy is to grow small businesses. The city’s Economic Development director, Tyler Westover, is dedicated to attracting new small businesses to the city and supporting existing businesses to ensure they thrive.

### City Growth and Potential

Maple Ridge is experiencing rapid growth, making it an attractive location for businesses. The city is forecast to have a growth rate of 10.8 per cent over the next five years, and it has one of the youngest populations in the region, with two-thirds of residents of working age.

### Retail Market Analysis

In response to public criticism about a lack of retail shopping locally, the city is conducting a retail market analysis to understand consumer behavior and identify opportunities to support local retailers and attract new businesses.

### Collaborative Efforts

The city works closely with the Ridge Meadows Chamber of Commerce and the Downtown Maple Ridge Business Improvement Association to support local businesses. Additionally, Mayor Dan Ruimy, a former entrepreneur, is passionate about small business and is actively involved in guiding economic development efforts.

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The AI legalese decoder can assist in analyzing legal documents and agreements relevant to economic development initiatives, providing guidance on compliance and regulations. It can also help businesses and entrepreneurs navigate the legal aspects of starting or expanding their operations in Maple Ridge.

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