Red Deer among most business-friendly micro cities in North America

Red Deer has made its mark among American Cities of the Future. In April, fDi Magazine, a Financial Times publication, ranked Red Deer among the top North American cities for 2015-16 when it comes to cost effectiveness and foreign direct investment strategy.

Red Deer has made its mark among American Cities of the Future.

In April, fDi Magazine, a Financial Times publication, ranked Red Deer among the top North American cities for 2015-16 when it comes to cost effectiveness and foreign direct investment strategy.

“The more our profile is elevated because of these rankings, the more competitive we are in terms of attracting new business. But it also bodes well for us in retaining the business we have and instilling private sector confidence for business expansion,” Mayor Tara Veer said.

Red Deer was ranked fourth for cost effectiveness among micro American Cities of the Future and was the only Alberta city in the top 10.

Thirty-seven micro cities, with populations below 100,000, were part of the study.

Criteria for cost effectiveness includes average salaries, annual rent for commercial and industrial space, electricity rates, cost to export/import, cost of establishing a business and tax rates.

Nanaimo, B.C. took fifth place. Niagara Falls, Ont. was sixth. Brantford, Ont. was eighth, followed by Repentigny Que. in ninth place and Saint-Jean-Sur-Richelieu, Que. in 10th position.

Atlacomulco, of Mexico State in Mexico, took the top spot for cost effectiveness.

Red Deer came in sixth in the foreign direct investment strategy category among micro cities and was the only Canadian city in the top eight. The list was restricted to eight due to shortage of suitable entries. Plattsburgh, N.Y., came in first.

When it comes to foreign direct investment, judges consider economic development, attraction and retention of foreign investment, and plans, strategies and policies.

City manager Craig Curtis said reaching top 10 status for micro cities in North America means Red Deer is a strong contender for attracting new business nationally and internationally.

Veer said Red Deer is also known for having one of the highest ratios of small businesses per capita.

In 2014, Red Deer was recognized for its entrepreneurialism, ranking sixth out of 121 mid-size cities, according to the Canadian Federation of Independent Business’ Top 10 Entrepreneurial Cities annual report.

She said right now business permits for start up and expansion are holding steady. Diminished growth is forecast for 2016, but the city will have lots in the works with 2019 Canada Winter Games capital projects, like the Centre for Health, Wellness & Sport at RDC, which were approved in previous budgets.

“By the time they go to design and tender and in construction, it will be during what is anticipated to be a lag time in the economy. So that will have economic spin off in terms of all of the employment that will generate for the region and will see us through till the economy improves,” Veer said.

szielinski@bprda.wpengine.com

Just Posted

Pro-pipelines rally draws crowd to City Hall

Canadian Taxpayers Federation says Canada missing out on billions in revenue

Red Deer Hospice celebrates hitting fundraising halfway mark

Red Deer Hospice Society in middle of $5.2-million expansion

Separate events raised funds for Alzheimer’s and cancer

Nearly half of Canadians will be diagnosed with a form of cancer in their lifetimes.

No business case for Trans Mountain expansion, says former environment minister

VANCOUVER — A former Liberal environment minister is urging Prime Minister Justin… Continue reading

School bus driver charged with drunk driving

THE CANADIAN PRESS EDMONTON — Three impaired driving-related charges have been laid… Continue reading

Canadians in Hong Kong worried for neighbours as protests roil former colony

As mass protests in Hong Kong grab headlines around the world, expatriate… Continue reading

To hit environment goals, feds should create ‘super’ tax credit, report says

OTTAWA — A government-struck expert panel is calling for new “super-deduction” tax… Continue reading

Calgary’s Michael Klukas to live childhood ambition in Stampeders opener

CALGARY — The dream never died for Michael Klukas. Born and raised… Continue reading

Thompson sustains torn left ACL in Warriors’ Game 6 loss

OAKLAND, Calif. — Klay Thompson sustained a torn ACL in his left… Continue reading

Championship timeline: Reliving the Toronto Raptors’ road to the NBA title

The Toronto Raptors captured their first NBA championship in franchise history on… Continue reading

Top 20 Global Concert Tours from Pollstar

The Top 20 Global Concert Tours ranks artists by average box office… Continue reading

Swift calls out homophobes on new song, announces 7th album

NEW YORK — Taylor Swift’s latest song has a new target: homophobes.… Continue reading

Blue Jays hit 3 HRs, notch 17 hits in 12-3 rout of Orioles

Blue Jays 12, Orioles 3 BALTIMORE — Lourdes Gurriel Jr. homered to… Continue reading

Most Read