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Jeffrey Dale. (Darren Brown, OBJ)

Threatened with a $130,000 budget cut, the head of Ottawa's leading economic development agency asked city councillors to maintain a municipal grant at 2008 levels.

In a presentation early Monday evening during the city's first day of budget debates, outgoing OCRI (Ottawa Centre for Research and Innovation) president and CEO Jeffrey Dale argued the proposed cut was ill-timed given the global economic slowdown.

"Now is not the time to slow down investments in economic development," he said. "Our services are in high demand, and continue to grow each and every year."

If OCRI's budget is cut, it would have to scale back on its global marketing efforts as well as its local communications and local marketing endeavours, said Mr. Dale in response to a question from Rideau-Rockcliffe ward Coun. Jacques Legendre. The operation of OCRI's Entrepreneurship Centres would also be affected, he added.

Last year, the city gave OCRI $1.8 million for operating expenses, which Mr. Dale said leveraged $9 million in outside investments. Along with a $614,000 capital contribution last year, the city funds 28 per cent of OCRI's $8.7-million budget, according to an October presentation made by Mr. Dale.

In order to keep next year's citywide property tax increase to five per cent, council needs to find $33 million in savings or cuts.

Budget consultations are scheduled to continue running until Thursday.