Business and Structure
Created and capitalized by the Government of British Columbia with $50 million in 2006, and a further $10 million in 2018, the North Island-Coast Development Initiative Trust, operating as Island Coastal Economic Trust (ICET), has been at the forefront of economic diversification and regional revitalization in the Vancouver Island and Sunshine Coast region for the past thirteen years.
ICET’s mission is to be a partner and catalyst to build a diverse, innovative and sustainable Island and Coastal economy. This mission is primarily achieved through strategic investments in key economic sectors, leveraging new funding and investment to the region, improving community economic development readiness, and fostering regional collaboration and planning.
Guided by its governing legislation and funding agreements with the Province, investments are made in projects that enhance the region’s competitive position in key sectors: technology and innovation, small business, tourism, agriculture and aquaculture, transportation, forestry, mining, and economic development.
Funds are invested primarily through two core grant programs: The Economic Infrastructure and Innovation Program and the Economic Development Readiness Program. Funds are also invested in regional support programs such as economic development training bursaries, sponsorship for key economic development or sectoral events, internships and other targeted partnerships.
To date, ICET has invested more than $50 million to support more than 200 projects, leveraging more than $280 million in new investment into the region and creating an estimated 2,600 permanent jobs.
In early 2018, the Province of British Columbia provided the ICET with $10 million in additional funding to continue its work in the region over the coming years.
More information about staffing, operations and programs can be found at: www.islandcoastaltrust.ca.
The Trust is a partner and catalyst to build a diverse, innovative and sustainable Island and Coastal economy.
LONG RANGE VISION
The North Island and Sunshine Coast area is a diversified, globally competitive regional economy.
STRATEGIC OBJECTIVES 2019-2021
1. LEVERAGE ECONOMIC INVESTMENT IN THE ICET REGION
ICET will use its capital and organizational expertise as a lever to attract incremental investment from other levels of government, non-government sources of funding, community and private sector investment, in individual project investments, regional investments, or by serving as a funding delivery or service delivery agent for other programs.
2. INVEST IN ECONOMIC INFRASTRUCTURE AND INNOVATION
ICET will support strategic investment in key local and regional economic infrastructure and innovation, with a strong focus on incremental economic benefits, economic growth and diversification, regional cooperation and long economic and environmental sustainability. This will primarily be achieved through the Economic Infrastructure and Innovation Program.
3. BUILD COMMUNITY AND REGIONAL ECONOMIC DEVELOPMENT CAPACITY
ICET will invest in projects, planning and training to support the sustainable development of attractive, liveable, and investment-ready communities and a thriving and collaborative region. This will primarily be achieved through the Economic Development Readiness Funding Program and Regional Support Programs.
4. SUPPORT REGIONAL COLLABORATION AND LEARNING
ICET will facilitate and support regional collaboration, key networking or learning events as well as regional or sectoral planning initiatives. This will be done primarily through the Regional Support Programs, targeted partnerships and operational assistance.
5.MAXIMIZE THE IMPACT OF TRUST RESOURCES
ICET will ensure that Trust resources are maximized with responsible administrative practices, continuous improvement of operations and programs, strong accountability and risk management, and implementation of best practices.
More information about the strategic planning process, annual priorities and actions, as well as key performance indicators can be found in the 2018-2020 Strategic Plan at: http://www.islandcoastaltrust.ca/strategic-plan
Experience and Qualifications
While previous experience as a director is not required, it is important that candidates understand the roles and responsibilities as a member of a board and have the necessary experience and demonstrated skills to enable them to contribute to board decision-making and oversight.
Part of the organization’s commitment to good governance includes the provision of a comprehensive orientation and ongoing professional development for new members.
Diversity and Inclusion
Consideration will be given to qualified individuals with a broad range of backgrounds including in community, labour and business environments. The selection process will recognize lived experience and volunteer roles as well as paid employment and academic achievements.
To support strong boards that reflect the diversity of our province, women, visible minorities, Indigenous Peoples, persons with disabilities, persons of diverse sexual orientation, gender identity or expression (LGBTQ2S+), and others who may contribute to diversity in public sector board appointments are encouraged to put their names forward for consideration.
There is currently one vacancy on the Board. The following attributes are sought for the vacant position:
- In-depth knowledge of various approaches to economic development;
- Knowledge and expertise in one or more of the region’s key economic drivers including tourism, aquaculture, resource industries and/or emerging sectors such as technology, green tech/clean tech, aerospace, and creative industries;
- Business, entrepreneurship and/or industry expertise;
- Strong understanding of modern communications and outreach strategies;
- Indigenous community representation;
- Age and gender diversity: females and younger people; and
- Geographic Diversity: at least one representative of the Sunshine Coast or Powell River region.
The Board usually meets seven times per year, generally on the third Friday of the month from approximately 9:30 am until early afternoon.
Meetings primarily take place at ICET’s offices in Courtenay, and from time to time in other locations in the Trust area. Board members from more remote locations or from the Powell River/Sunshine Coast region may be required to travel and stay overnight in Courtenay the night before Board meetings. Travel expenses are reimbursed.
Committee meetings are held at times convenient to all members.
Board members may also attend various functions from time to time such as: press conferences and other media events, conferences, Regional Advisory Committee meetings, etc.
Pursuant to the North Island-Coast Development Initiative Trust Act, the stipulated term is 3 years from the expiry of the term of the retiring director whom he or she replaces.
Pursuant to the North Island-Coast Development Initiative Trust Act, directors are not remunerated but will be compensated for reasonable travel and out-of-pocket expenses incurred in discharging their duties.
The organization’s governance structure is established in the North Island-Coast Development Initiative Trust Act. The Board consists of 13 Directors, 8 of whom are appointed by two Regional Advisory Committees (RACs) representing the Central South Island Region and the North Island-Sunshine Coast Region. The remaining 5 Directors are appointed by the provincial government.
The RACs are comprised of local government elected officials and Members of the Legislative Assembly from the region. MLAs cannot be members of the ICET Board.
The Board of Directors is the final decision making voice for the organization and is responsible for strategic planning and operational oversight.
The Board has established the following standing committees:
- Finance and Audit
- Strategic Planning
Ad hoc committees may also be created, from time to time, to address specific planning or operational needs. These committees are dissolved on completion of work.
Board Responsibilities and Accountabilities
The Board’s role is that of:
- Leader - set the strategic direction and empower senior management to implement Board direction;
- Overseer - evaluate performance measures and hold senior management accountable;
- Steward - provide stewardship for the effective delivery of the organization’s mandate; and;
- Reporter - report to government, stakeholders, public, and others.
Board responsibilities fall into the following general categories:
- Managing Board Affairs: Establish the processes and structures necessary to ensure the effective functioning and renewal of the board. This includes: monitoring and improving the quality of the board and ensuring appropriate board committees are in place; ensuring appropriate board orientation and ongoing professional development; articulating roles and responsibilities for the board, committees, chair and individual governors; defining board processes and guidelines; evaluating the board, committees, directors and chair; and identifying potential director candidates.
- Organization’s Mandate: Fully understand the organization’s mandate set by government, review, and make recommendations to government regarding the mandate to reflect changing circumstances.
- Strategy and Plans: Participate in the development, review and approval of the organization’s strategic plan to ensure consistency with the organization’s mandate as set by government.
- Human Resources: Subject to government legislation and guidelines, select, appoint, compensate, evaluate and terminate the Chief Executive Officer (the President); oversee management succession and development.
- Financial and Corporate Issues: Review financial, accounting and control systems to ensure appropriate risk management systems, code of ethical conduct and conflict of interest guidelines are set in place.
- Monitor and Report: Monitor organizational performance against strategic plans and compliance with applicable legislation and government direction; account to government and stakeholders through appropriate reporting.
- Communications: Oversee organization’s communications policy.
The Board must govern, control and administer its affairs in accordance with the North Island Coast Development Initiative Trust Act.
In carrying out its work, the board operates within the broad policy direction and budget set by the Ministry of Jobs, Trade and Technology.
The individuals who make up the Board should, collectively, have the necessary personal attributes and competencies required to:
- add value and provide support for management in establishing strategy and reviewing risks and opportunities;
- effectively monitor the performance of management and the organization; and,
- account for the performance of the organization.
All directors should possess the following personal attributes:
- high ethical standards and integrity in professional and personal dealings;
- appreciation of the responsibilities to the public;
- able and willing to raise potentially controversial issues in a manner that encourages dialogue;
- flexible, responsive and willing to consider others’ opinions;
- capable of a wide perspective on issues;
- ability to listen and work as a team member;
- no direct or indirect conflict of interest with the member’s responsibility to the organization;
- strong reasoning skills;
- able and willing to fulfill time commitment required to carry out responsibilities;
- may include personal attributes relevant to organization; and,
- commitment to continuous learning about the organization and the relevant sector or industry.
Collectively, the Board should comprise the following core competencies:
- operational or technical expertise relevant to the operation of the organization including:
- strategic management and organizational change
- internal control and accounting
- public sector administration
- human resources
- labour relations
- risk management
- financial expertise;
- legal expertise;
- knowledge of government and the public sector environment;
- knowledge of current and emerging issues affecting the organization and its industry or sector; and,
- knowledge of the community served by the organization.
List of Current Governors
||27 Aug 2021
|Megan Ann Hanacek
|| 5 Nov 2018
||27 Aug 2021
|Barry Thomas O'Neill
|| 5 Nov 2018
||27 Aug 2021
|Dana Michelle Thorne
|| 5 Nov 2018
||27 Aug 2021
|Roger Tsuneo Kishi
|| 8 May 2019
||27 Aug 2021
Process for Submitting Expressions of Interest
You may submit an Expression of Interest in serving on this board by clicking on the “Apply Online Now” button at the bottom of this page. For more information on the board, refer to the Directory of Agencies website.
British Columbia Appointment Guidelines
Appointments to British Columbia’s public sector organizations are governed by written appointment guidelines.
Freedom of Information and Protection of Privacy Act (FOIPPA) – The personal information on this form is collected for the purpose of administering a variety of statutes that authorize the appointment of individuals to public sector organizations under the authority of section 26(c) of the FOIPPA. Questions about the collection or use of this information can be directed to the Crown Agencies and Board Resourcing Office by email at email@example.com or by telephone at 604 660-0465.