Enriching Lives And Local Economies: The Power of Community Investment

IN MY LINE OF WORK, PEOPLE OFTEN ASK ME how to create more wealth for themselves and their families. While I regularly provide tried-and-true advice—such as budgeting strategies, maximizing tax deductions, and making smart investment choices—I always emphasize the importance of investing in your community and city for long-term returns, both financially and in terms of quality of life.

When you hear “invest in your community,” what comes to mind? Some might argue that their tax dollars are already supporting local initiatives. However, as someone who has lived in Ottawa for over 28 years, I can attest to the profound impact that active involvement in local events can have.

We are fortunate to live in a city with such a diverse array of events. Whether it’s food-focused gatherings like the annual Rib Fest, cultural celebrations like the Latin American Festival, music festivals such as Bluesfest and JazzFest, physical activities like the Tamarack Race Weekend or educational events like the Canada-Wide Science Fair, there truly is something for everyone. These events not only enrich our community but also serve as significant economic drivers, creating opportunities for local businesses, residents and visitors to participate.

The City of Ottawa’s Tourism Office highlights that major events and festivals enhance the quality of life of both our residents and our visitors, which is a key factor in attracting and retaining businesses and talent. They explain that initiatives like place branding and new product development improve the visitor experience. Moreover, a vibrant tourism sector supports small and medium-sized businesses such as restaurants, retailers, and venue spaces, all of which contribute to a thriving Ottawa economy.

In addition to for-profit events, another pillar in my philosophy is giving back at a local level. I am honoured to be involved with multiple non-profit organizations in Ottawa, such as The Ottawa Cancer Foundation, The Heart Institute and the Bruyère Foundation. These organizations, among many others in Ottawa, provide essential services to those in need right here in our own community.

Each year, I host the “Let’s Take a Swing at Cancer” golf tournament with close friends and business leaders in Ottawa, contributing to our local support efforts. Last year, I participated in The Ottawa Cancer Foundation’s event, Fight for the Cure, where our collective efforts raised over one million dollars to fund vital programs and services for those affected by cancer in the Ottawa area. It is through participating in these organizations and fundraising initiatives that I realized just how giving the Ottawa community can be.

Investing in your community isn’t just about economic contributions—it’s about fostering belonging and mutual support. By participating in local events, festivals, and charitable initiatives, you enhance your own life and strengthen our city’s fabric. Your involvement helps create an environment where businesses flourish, residents enjoy a higher quality of life, and those in need receive support. So, as you consider ways to build wealth for yourself and your family, remember that the greatest returns often come from investing in the community around you.