It did not take long for city council to reverse course (half way) on a decision to cut funding for the Northern Alberta Business Incubator (NABI). They agreed to provide a $25,000 operating grant, half the amount originally requested.
It was just last week that council agreed to cut the $50,000 subsidy. Several members objected to the funding in light of NABI officials admitting they do zero fundraising.
"Every organized non-profit in our community is required to [fundraise]," is how Coun. Carol Watamaniuk put it. "Surely an organization that shows businesses how to run a business can come up with $50,000."
Mayor Nolan Crouse said council gave enough earlier in the year when it helped finance NABI's new building in Campbell Business Park.
Council flip-flopped on the subsidy Monday, after feeling the pressure from NABI directors. Jeanette Bancarz of ATB Financial threw out several noteable stats to help with the persuasion.
Of the 61 businesses that have graduated from NABI, 39 still operate in St. Albert. Bancarz said that represents more than 200 jobs. Those businesses will pay $88,000 in taxes, while NABI itself will pay close to $50,000.
If council wants to achieve its economic development goals, members should "let NABI do its thing," she said.
The speech convinced several councillors to change their minds (Roger Lemieux, Gareth Jones and Lorie Garritty). Well, they agreed to provide a half the subsidy, at any rate.
Councillors Len Bracko and James Burrows continued their support for NABI. Watamaniuk and Crouse opposed the subsidy.
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