Thanks to the combined funding of two groups of Guelph alumni and the Libro Credit Union, called the Libro Professorship in Regional Economic Development for southwestern Ontario is set to open next year under the Ontario Agricultural College. The professorship is set to be filled in 2016 and will focus on “identifying economic development strategies for southwestern Ontario, strengthening links between rural and urban communities, and encouraging Ontario’s post-secondary institutions and research facilities to work together on regional economic development.” The professorship will be based in the School of Environmental Design and Rural Development and will be connected to Guelph’s Ridgetown campus.
The university was able to create this position due to the contributions of $500,000 by the Libro Credit Union and the twin $250,000 donations of George and Lorna Roberts and George and Geri Klosler. The funding for the Libro Professorship will be provided over a 10-year period, culminating with the college providing base funding in order to maintain the professorship as a permanent position.
“Libro exists to grow prosperity in South-western Ontario by transforming banking, and this partnership allows us to identify opportunities and guide the direction of the region’s future economic development,” said Libro Credit Union CEO Steve Bolton, on Sept. 30, 2015. “Collaboration is a huge element in growing prosperity and we are thrilled to partner with the University of Guelph.”
Bolton’s statement was reaffirmed by Rene Van Acker, the OAC’s associate dean. “It’s an ideal partnership to grow long-term prosperity for the region,” explained Van Acker. “This professorship will champion economic development and regional planning by pursuing world-class research, outreach and education, and by co-ordinating local, provincial, national, and international expertise.”
The Libro Credit Union is a credit union based in London, Ontario. The bank is known for its 70 years of service, managing $3.6 billion in assets that are now being directed towards agricultural development in southwestern Ontario.
“Southwestern Ontario has some of the best farmland in Canada and it makes sense to leverage the assets we have under our feet,” said Bolton.
While no names have been mentioned for the position yet, it will be filled by August 2016. Wayne Caldwell, a professor at the University of Guelph’s Ontario Agricultural College stated that this position is a significant one, not just as a research position to advance agricultural development in the region, but also as a leadership role.
“I expect to see this person to be at community meetings across the region… working with downtown BIAs (Business Improvement Areas) and farmers’ groups,” concluded Caldwell.