Economic Development report delivered to Council

Kimberley’s Economic Development Officer Schaun Goodeve presented the Economic Development First Quarter Report to Council on Monday, reporting on data for ongoing projects, the business economy, tourism, stakeholder relations, marketing, and business attraction initiatives.

Goodeve recently conducted a survey of 100 randomly selected local businesses to participate in a direct phone interview and results show that overall business satisfaction in the City is “quite strong” at 90 per cent.

“There was a 100 per cent response rate with the survey,” explained Goodeve. “The data we gathered was really exceptional. Overall business satisfaction is really quite strong; people are happy and satisfied about doing work in town and there’s optimism within the business community.”

READ MORE: New Economic Development Officer in Kimberley

49 per cent of businesses indicated their level of satisfaction is more positive than a year ago, and 83 per cent of businesses indicated that their primary market is Kimberley or the Kootenay Region.

The data also shows that 82 per cent of businesses have been operating in Kimberley for six or more years, and the vast majority of the customer base is Kimberley and Cranbrook, which Goodeve says indicates very strong support for local businesses.

He says that the majority of businesses (77 per cent) point out that only 25 per cent of their customers are tourists.

“This tells us that there’s really strong local support for our businesses. This is where our business is coming from, it is local and its fantastic,” he said. “Small business drives the Canadian economy and we’re seeing that here.”

Goodeve adds that businesses are challenged by availability of adequate housing, availability of space to rent or lease, and availability of property to purchase.

He explained that going forward, there is a strong opportunity for creation of co-working or innovation space because of the high number of home based businesses; 23 per cent of Kimberley’s businesses are home-based.

“The business community is incredibly engaged and positive about the future and succession planning is an area that would benefit many businesses,” said Goodeve.

He and other staff are also working on getting an investment profile ready for potential investors, which, he says, this data will be relevant for.

“We’re working hard to articulate that there are opportunities in Kimberley for potential developers and new businesses,” he said. “One recent business thats a good example is Rocky Mountain Farms and their purchase of land in Marysville. It’s a good example of a recent business that we could successfully attract to town.”

READ MORE: Micro-cannabis cultivating facility to be built in Kimberley

Goodeve also pointed out that there are several vacant lots and storefronts that he hopes to fill soon.

Mayor Don McCormick referenced the data that was presented, saying that good decisions are based on data rather than emotion.

Some other significant data to consider, Goodeve says, is that of the construction and housing markets.

He reported that construction values in Kimberley are at $3,855,000 in 2019 with 18 new dwellings to date. The unemployment rate in the East Kootenay is 3.15 per cent and the average household income as of 2016 census data is $78, 378.

Goodeve says that Kimberley’s population will likely continue to trend upwards, which will affect both the business community and housing market.

In 2018 the average sale price for a home was between $250,000 and $300,000, where in the first quarter of 2019 average prices are closer to $350,000.

The average construction cost per square foot was just over $150 in 2018, while it’s at $200 in 2019. Goodeve speculates this may be because of tariffs coming from the U.S., while McCormick adds that most every trade is busy across the region and supply and demand drive up costs as well.

Like us on Facebook and follow us on Twitter

Just Posted

Three Constables from the Kimberley RCMP Detachment were recipients of this year’s Alexa’s Team award

Three Kimberley RCMP officers were recognized, after the trio were responsible for… Continue reading

Group argues for Lake Koocanusa weir

Weir would return water level control to Canadian side, boost recreation and tourism for area

Feedback being sought for Koocanusa recreation plan

An updated Koocanusa Recreation Strategy is in the works following public input… Continue reading

Kimberley Dynamiters start road trip with a win

the Kimberley Dynamiters are currently on a long road trip, which began… Continue reading

COTR students share research with Kimberley middle school students

Sharing research College of the Rockies Biology of the Environment (BIOL 151)… Continue reading

VIDEO: Boys help rescue Cariboo bear cub

The cub, weighing just 24lbs, has been taken to wildlife sanctuary in Northwest B.C. for the winter

$578: that’s how much your first distracted driving ticket will cost with recent premium hikes

Over 50 per cent of Canadians admitted to using phone while driving last year, according to study

Kelowna man attempts to steal bait bike from RCMP parking lot

38-year-old Brian Richard Harbison is facing several charges

‘Things haven’t changed enough:’ Ecole Polytechnique anniversary prompts reflection

Fourteen women were fatally shot by a gunman at the Montreal school on Dec. 6, 1989

Bear raids freezer, gorges on Island family’s Christmas baking

Hungry bruin virtually ignored meat and fish, focused, instead, on the sweets

B.C. pharmaceutical company’s stocks double in value after successful lupus drug trial

More than 40 per cent of patients using voclosporin saw improvements in kidney function

Second warning on romaine lettuce from California region as another E. coli case reported

Two cases of E. coli have been reported in relation to the illness in the U.S.

WorkSafeBC investigating serious incident at Kootenay Boundary landfill

Medical incident shut down the McKelvey Creek landfill Friday morning

Residents in B.C. city could face 133% tax hike in ‘worst case’ lawsuit outcome: report

An average home could see a tax increase of $2,164 in one year

Most Read