Investing in Kelowna, British Columbia

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Overview

Region:  Thompson/Okanagan

Regional District:  Central Okanagan

With a trading area of 520,000 and infrastructure to support business, Kelowna and the Central Okanagan is the largest trading centre between greater Vancouver and Alberta. The Okanagan has a diverse economy with prime industry sectors including agriculture, tourism, retail trade, manufacturing, forestry and construction. Key growth industries for the Valley include information and high technology, film, viticulture and wine production as well as aviation and health care. With much in the way of available business resources, the Valley is an ideal destination for business start-ups, expansion and relocation. The Okanagan has become a prime destination for residential and small business relocations due to the exceptionally moderate climate, strong transportation, trained labour force and availability of diverse recreational opportunities.

The Regional District of Central Okanagan (Kelowna CMA) comprises the City of Kelowna, District of West Kelowna, District of Peachland, District of Lake Country, Central Okanagan J (census subdivision), Central Okanagan East Electoral Area (formerly Joe Rich – Ellison). The self-governed Westbank First Nation is also geographically located within the Central Okanagan Regional District. All have unique characteristics but are closely interrelated.

The Region has a well-diversified economy, with health care, education construction, agriculture and tourism being the main industries. The warm climate makes this area one of the more important agricultural centres in the province and is one of many attractions for tourists. Improved transportation links to the Lower Mainland have enhanced the Central Okanagan as a place to locate secondary and tertiary manufacturing.

The region has experienced significant growth in residential construction over the past several years. Key economic drivers in the region include the University of British Columbia, Okanagan Campus with an annual economic impact of $1 billion and YLW Kelowna International Airport with an annual economic output of $ 610 million. Kelowna General Hospital and Okanagan College are also major contributors to employment and economic impact in the region.

The Central Okanagan and the Okanagan Valley continue to undergo significant urban development. The Central Okanagan has more than 568 hectares of development-ready, industrially zoned land available to meet the growing demands of a population expected to reach 250,000 by 2032.

http://www.investkelowna.com

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Community Size: 261.72 km²

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