“Shorefast asks a powerful question: ‘How can we create an economy in service of place?’ They explore how community economies are organized, their shared challenges, and the collective strategies to overcome barriers and unlock opportunities. It reminds us of the importance of nurturing a sense of place—something we risk losing if we don’t actively cultivate it.”
— Tanya Smith, Coast Capital Savings, Victoria, British Columbia
What Happens When Economic Stewards Gather in Place ?
Through two decades of economic development practice, Shorefast has learned that coherent strategies have the best chance to emerge when practitioners come together in a physical place in pursuit of coordinated action. A key component of the work of the Shorefast Institute for Place-Based Economies involves immersive convenings that facilitate peer learning, strategy sharing, and collective problem-solving. When held on Fogo Island, we’re calling these convenings “Fogo Sessions.”
The very first Fogo Session was held in early November, designed as a four-day working session that brought together representatives from the Institute’s inaugural community cohort. This cohort represents the first members of “Shorenet”, a “network of networks” connecting places committed to stewarding the local economies that serve their communities.
Fogo Session participants came from eight communities big and small across Canada: South Vancouver Island, BC; Battle River, AB; Scarborough, ON; Newmarket, ON; Prince Edward County, ON; Upper Fundy Coast & Foothills, NB; Gros Morne, NL; and Fogo Island.
A Core Challenge: Coordination Between The “Three Pillars”
To begin the inaugural Fogo Session, scene-setting included defining a shared understanding of “the economy,” followed by an overview of the “Three Pillars” concept popularized by economist Raghuram Rajan. Successful place-based development, noted Shorefast CEO Zita Cobb, requires an approach that considers and coordinates action across the pillars of community, government, and markets. Economic transformation happens at the intersection of these three forces, not in isolation.
“Real stewardship is recognizing that our roles and responsibilities within a community are ever evolving. To truly meet the needs of our communities—we must persuade markets, governments, and communities alike to place ‘place’ at the centre of every decision. Recruiting everyone into this mindset is how we accelerate meaningful change.”
— John Taylor, Mayor of the Town of Newmarket, Ontario
Shared Challenges Across Communities
Despite geographic and demographic differences, participants identified common struggles present in all represented communities. These included:
The Fogo Session discussions revealed how interconnected many of these challenges are: housing affordability affects labour availability, which constrains business growth, which limits community capacity to attract investment. Places with growing visitor economies, for example, are particularly attuned to this challenge.
Shared Challenges Across Communities
During online convenings preceding the Fogo Session and in-person on Fogo Island, participants shared unsolved challenges alongside successes to date with “community spotlight” presentations. A few examples include:
Newmarket, Ontario spoke of their impressive efforts to balance cultural development with commercial viability. They presented their Main Street revitalization project and shared forthcoming plans for blending heritage preservation with art and economic development.
Scarborough, Ontario showed how an innovative development partnership in their community is modeling how creative ownership structures can activate local economic activity and prioritize local employment.
From Victoria, BC, we heard from two community-focused organizations that are prioritizing blended finance strategies that bridge philanthropy and traditional finance.
Prince Edward County, ON, Gros Morne, NL, and Upper Fundy Coast and Foothills, NB are focused on sustainable, community-conscious tourism. Both places have prioritized the development of dedicated organizations and collaborative structures to responsibly manage tourism in their areas.
From Battle River, AB, our participants spoke with great pride about the shifts and tensions facing the prairies at this moment in Canada’s history.
In addition to hearing from the visiting communities, participants learned through immersion on Fogo Island. Mealtimes offered the opportunity to delve into the Island’s foodways, and daily afternoon outings allowed for further exploration of culture, landscape, and economy.
Visiting Shorefast’s community businesses, the cohort saw first-hand how place-based assets have become economic engines. Excursions to the Punt Premises and local craft studios showcased the singular history and traditions of Newfoundland & Labrador, underscoring the importance of the inshore fishing culture that scaffolds Shorefast’s approach.
Indeed, the importance of the past, present, and future of the Island’s fishery was continuously highlighted by the Shorefast team; after all, the charity’s community businesses and initiatives are intended to complement the Island’s co-operatively owned fishery.
Experiencing ideas in practice and hearing about the work being done by other places inspires practitioners to apply learnings to their own contexts. The team at Shorefast often invoke what is known as “Ostrom’s Law,” based on the work of Nobel-prize winning economist Elinor Ostrom: “That which is possible in practice is possible in theory.”
“This work resonated deeply with me from day one. It brought home for me the Nobel prize-winning truth: what is possible in practice is possible in theory. The principles shaping Shorefast’s community economic development model reflect what I’ve seen on the ground, blending local place-centred values with real-world impact.”
— Eoin Callan, Managing Director, Bloom Impact Capital, Prince Edward County, Ontario
Making More Things Possible in More Places: Five Potential Strategies
Discussions throughout the Fogo Session explored the realities of Canada’s current policy and business environment, potential paths toward greater alignment between ground-up initiatives, and the need for economic narratives and actions that include place-based communities in our economic planning.
Inspired by these conversations and Canada’s recent federal budget, participants brainstormed potential avenues that would support place-based economies nationwide:
“My biggest takeaway is that the tangible and sustainable progress begins when the Market, Government, and Community pillars meet each other with curiosity instead of competition—not asking ‘What’s in it for us?’ but seeing what becomes possible when we work in balance.”
— Alaina Lockhart, Sussex Ale Works, and Former Member of Parliament, New Brunswick
What’s Next? Building a Country: A Community of Communities
Armed with further strategies to become more effective economic innovators and stewards, communities departed the Fogo Session eager to put what they had learned into practice. . The first Shorenet cohort expressed a commitment to a “community of communities” approach to Canadian economic development and to a shared belief that geography is immutable and our communities of place are unrecognized nation building assets Top-down investment coupled with ground up development is a winning formula.
The inaugural Fogo Session also shaped the Shorefast Institute’s roadmap in concrete ways. Participants identified critical gaps in Canada’s economic development policy ecosystem, and were able to “vote” for knowledge areas they most wanted to see resources developed towards in a group design session as part of the gathering.
Significantly, participants emphasized the need for both digital learning platform and face-to-face convenings. They requested peer-to-peer matching between communities, accessible skills databases, shared project visibility, and small-group sessions with clear agendas and concrete outcomes. These insights are directly informing how the Institute will structure Shorenet’s learning platform and future Fogo Sessions.