The Kingston Economic Development Corporation was established in 1998 as a separately incorporated not-for-profit agency. The organization is governed by a twelve member Board of Directors with representation from the business community and municipal council (Mayor and three annually appointed councillors).
The Board of Directors provides governance and strategic direction for the operations of the agency. Kingston Economic Development is comprised of 8 full-time staff who are engaged in business and workforce development.
To view the 2016 salary disclosure please click here.
In 2017, the operating budget for the corporation as a whole is $3,147,966, the majority of which (86%) is received from the municipality. The remaining revenue is generated through Provincial, Federal and private sector investments.
Financial services for the Kingston Economic Development Corporation are managed by the City of Kingston Financial Services department. The Finance and Audit Committee reviews monthly reports on all financial transactions and reports its conclusions to the Board of Directors.
Annually a third party independent audit of finances is undertaken by a local accounting firm. To review the audited financial statements of the Kingston Economic Development Corporation, please click here.
Policies, Procedures and By-Laws
All operations of the Kingston Economic Development Corporation, including financial expenditures, are governed by policies and procedures put in place by the HR and Nomination Committee and are approved by the Board of Directors. To view the Policies and Procedures Manual and salary disclosure please click here. To view the Corporation's By-laws please click here.
The ability to determine the exact value of an economic development organization's activity and its direct impact on a community or region has been one of great debate for decades. Metrics have been put in place for the staff to track and gauge activity from year to year. To view the metrics currently used by Kingston Economic Development please click here.
Operating & Sales Plans
Every year, the Kingston Economic Development Corporation produces Operating and Sales Plans that outline planned activities for Business Development and for Tourism Kingston in relation to the corporation's Strategic Plan. These plans also aim to provide further clarity on our high growth priority sectors and related budget expenditures.
To view a copy of the 2017 Operating and Sales Plans for Business Development, please click here.