Olds named one of best for business

Alberta Venture magazine has declared Olds one of the best communities for business in the province.

Alberta Venture magazine has declared Olds one of the best communities for business in the province.

The Edmonton-based publication ranked the town number 3 out of the 25 largest communities in Alberta, behind the Regional Municipality of Wood Buffalo and Grande Prairie. Red Deer placed 10th and Lacombe was 19th.

Alberta Venture used a number of criteria to evaluate the business-friendliness of each community, including property taxes and the cost of serviced industrial land.

It also looked at population growth and residents’ median age, as well as the percentage who had post-secondary education.

Olds’ population growth from 2012 to 2013 was 13.6 per cent, second only to Wood Buffalo.

At 41, the town’s median age was the fourth oldest, while the percentage of residents with post-secondary education was 55.8 per cent (18th).

The residential mill rate in Olds was 5.54 (13th) and the cost of industrial land there was $275,000 (10th).

An accompanying bio written by Alberta Venture about Olds praised the town’s new Pomeroy Inn & Suites at Olds College conference centre, and its community-owned, high-speed broadband network. Olds’ relatively low non-residential municipal tax rate and its proximity to Calgary were also noted.

Olds was the smallest community included in the Alberta Venture’s rankings.

Red Deer’s population growth was calculated at 5.7 per cent (eighth overall), its median age at 35 (ninth) and 57.4 per cent of its residents were found to have some post-secondary education (16th).

The city’s residential mill rate was 6.05 (15th) and the local cost of serviced industrial land was $300,000 per acre (12th).

Alberta Venture commented favourably on Red Deer’s diverse economy, and added: “Red Deer’s business operating costs have been ranked among the most competitive in the world by KPMG and the city has above-average levels of private sector investment.”

Lacombe was the only community out of the 25 to show a negative population growth from 2012 to 2013, at -0.2 per cent. Its median age was 37 (15th) and 60.2 per cent of its residents had some post-secondary education (13th).

Lacombe’s mill rate was 6.90 (19th) and the cost of industrial land there was $250,000 an acre (eighth).

Alberta Venture noted Lacombe’s “reasonable land and building costs,” as well as its downtown redevelopment — which as included the refurbishment of 35 heritage buildings.

Last year, Red Deer was on an Alberta Venture’s list of the 25 Best Communities For Business in Western Canada, and in 2011 the city and Olds were both included on that list.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Weinstein conviction sends right message, says advocate

“Don’t stay in silence because we can make this end one day”

One actor tackles 33 zany characters in CAT’s social satire, Fully Committed

Ash Mercia is taking on an actor’s biggest challenge

Sylvan Lakers asked for playground input

Town has set aside $250,000 to replace Centennial Park playground

Alberta legislature resumes: Focus on jobs and bill to punish protesters

EDMONTON — A new legislature sitting has begun with the Alberta government… Continue reading

Your community calendar

Feb. 19 A Liberation of Holland event is being held at the… Continue reading

Bucks defeat Raptors in battle of Eastern Conference heavyweights

Bucks 108 Raptors 97 TORONTO — Khris Middleton scored 22 points as… Continue reading

Monahan, Backlund score 2G each, Flames beat Bruins 5-2

Flames 5 Bruins 2 BOSTON — Sean Monahan scored a pair of… Continue reading

Canadian Pacific obtains injunction to end Mohawk rail blockade in Kahnawake

MONTREAL — Canadian Pacific Railway obtained an injunction Tuesday aimed at ending… Continue reading

Alberta legislature resumes: Focus on jobs and bill to punish protesters

EDMONTON — A new session of the Alberta legislature began Tuesday with… Continue reading

Red Deer realtor is Century 21’s best seller worldwide

Nobody sold more units than Gavin Heintz among company’s 139,000 realtors

Red Deer District Community Foundation looking for volunteer board members

The Red Deer & District Community Foundation is looking for new board… Continue reading

Feds seek 21 months for Hot Pockets heiress in college scam

BOSTON — Prosecutors are seeking nearly two years in prison for an… Continue reading

Most Read