2017 - A good year for new business openings
Feb. 16, 2018 / For Immediate Release
AIRDRIE, ALBERTA – The City of Airdrie’s Economic Development department has released its 2017 Year in Review and are pleased that the Airdrie business market continues to grow.
“In the last few years, Airdrie and the Calgary region have seen a slowdown in new, larger industrial projects. We are, however, still seeing smaller industrial businesses moving to Airdrie,” says Kent Rupert, team leader, Economic Development. “Commercial development has seen steady growth with new areas like Cooper’s Town Promenade and Midtown, as well as, Kingsview Market and Sierra Springs continuing to build out.”
Business licence’s were up 6.6 per cent from 3,699 in 2016 to 3,944 in 2017. That included the opening of 103 new commercial/industrial and 391 home-based businesses. This amounted to 715 new full and part time jobs created in the city.
“6.6 per cent business growth is still a healthy market Airdrie should be proud of,” explains Rupert. “The last couple of years have been economically tough on a number of municipalities across Alberta, but Airdrie continues to bring in new businesses and increase job opportunities in the city.”
In total, 303 commercial and industrial permits were issued in 2017. The total value of those permits was down from $55 million in 2016 to $28 million in 2017.
Major new developments – estimated construction value*
Shopping Centre, Sierra Springs, $28 million
Office/Warehouse, Gateway, $17.5 million
Strip Mall, Centre Ave, $13 million
Shopping Centre, Shopping Centre $10.5 million
*Projects are in differing stages of approval and/or construction.
The housing market saw 2,379 residential permits issued in 2017 down from 2,735 in 2016. Out of the 981 housing permits, 565 were single detached, 365 were semi-detached and 51 were low and medium density apartments. Total residential construction value was $216 million; this number is up from $203 million in 2016.
“We saw a slight drop in housing permits from 2016. The multi-family market dropped for duplexes and town houses but there was a significant increase in single family homes from 2016. A shift to purchase the single family products on the market by home owners was a surprising increase for our community” says Pertti Harkonen, team leader, Building Inspections “Overall, our residential products did well in the market comparatively to many other regions.”
Team Leader, Economic Development
City of Airdrie
403.948.8800 ext. 8738
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