Mackenzie Miles’ work at Columbia Basin Trust goes far beyond emails and spreadsheets. As the Director of Investments and Economic Development, Mackenzie ensures that the Trust has the financial resources to fund community-driven projects across the Columbia Basin. Under his leadership, we lend directly to established local businesses, privately held corporations, non-profits, and social enterprises. He also manages the acquisition of commercial properties in Basin communities and provides oversight of our market securities portfolio, all helping generate income for the Trust. This combined with earnings from our power facilities, funds programs that promote social, economic, and environmental well-being across the region.
The Trust’s impact is significant. Between 2020 and 2023, it provided $320 million in benefits to the region, enabling over 10,300 projects. How does the Trust raise such funds? By carefully managing investments in four hydropower facilities co-owned with Columbia Power Corporation, Basin-based businesses, real estate, and market securities such as short-term deposits, equities and bonds. These investments generate a sustainable and growing income stream that supports projects aimed at improving quality of life across the Basin.
Mackenzie is well-prepared for this responsibility. A CFA Charterholder with a Bachelor of Arts in Economics from the University of Calgary, he has the expertise required to oversee the Trust’s investment portfolio. But his real advantage is his deep connection to the region. Born and raised in Cranbrook, where he still lives, Mackenzie understands the nuances of individual communities across the Basin.
“Being a Kootenay local, I have a head start in understanding the unique needs of different communities,” he says. “That regional expertise comes in handy a lot.”
Mackenzie joined the Trust in 2016 as an analyst for its subsidiary, the Columbia Basin Broadband Corporation. In 2022, he became Manager of Commercial Business, and in spring 2024, he assumed his current role as Director of Investments and Economic Development. For him, it’s more than a job—it’s a chance to make a tangible difference in the region he calls home. “I am a bit of a lifelong learner, so it’s a good challenge, which is nice.”
His role frequently takes him out of the office and into communities, where he meets with current and prospective clients, local business leaders and community members. Whether he’s financing a local project or managing investment agreements, the results of his work are clear. “I love visiting communities, seeing the projects in person, and hearing how they are making a difference in people’s lives,” he says.
One of the challenges the Trust faces is the rapid growth of many Basin communities. This raises important questions: What do these communities need from the Trust? Can the Investments team pivot to offer more creative solutions, or should they expand their existing approaches? These are the kind of questions Mackenzie tackles every day.
Business succession is another pressing issue in the region. “There are a lot of prominent, well-established business owners across the Basin who are nearing retirement. They need the next generation to step up and continue their legacy,” he says. The Trust helps facilitate these transitions by providing financing to family members, employees, or newcomers looking to acquire businesses. “I really enjoy seeing that next generation take the reins and ensure the success of these longstanding Basin businesses.”
Cranbrook holds a special place in his heart. His family lives nearby, and he loves the recreational opportunities the area provides. “I like to fish, but golf is my primary game, and in the East Kootenay we’re spoiled,” he says with a smile.
Ultimately, Mackenzie is committed to ensuring the Trust remains a healthy and resilient organization. Since its formation in 1995, when Basin residents advocated for the Trust’s creation, the organization has grown its initial endowment of $321 million to a book value of $2.2 billion. The Trust generates about $90 million annually from its investments, with a significant portion flowing back into communities. Prudent management ensures that future generations will benefit from the same, if not greater, levels of resources as today’s residents.
“There have been so many times where the Trust’s involvement really made a difference,” Mackenzie reflects. The Cranbrook Bucks hockey team exists today in part due to a Trust loan, and Golden’s Whitetooth Brewing has grown with similar assistance. “It’s incredibly rewarding to see the impact our work has on people’s lives.”
Thanks to Mackenzie Miles and his team, Columbia Basin Trust continues to invest in the Basin’s future, ensuring that its communities thrive for generations to come.
