A slumping economy in 2015 did not slow down the number of businesses opening in Okotoks.
The number of business licenses issued by the Town of Okotoks rose by 2.8 per cent in 2015, over the previous year.
The total number of Okotoks businesses is 1,254. Of those, 592 are storefront and 660 are home-based businesses.
“Early in 2016 we’re starting to see more as people are looking for new home-based start-ups, possibly something they’re turning to after lay-offs,” said Olson. “There have already been 15 applications since Jan. 1.”
Economic development manager Shane Olson said 181 new businesses started up in 2015, including 127 home-based and 54 in the commercial, industrial and professional category. This resulted in 393 new jobs added to the economy, he said.
Surprisingly, he said commercial vacancies are were still being filled toward the end of 2015 and into 2016. There is only one main floor vacancy downtown, in the former I’ve Been Framed building, he said, and one empty lot at 83 Elizabeth St., next to Little Hands Montessori Academy.
“Really, unless people want to redevelop, which we always encourage also, there’s not a lot of spots for lease or sale in town,” said Olson.
Canadian Brewhouse and Brown’s Social House opened at Westmount Centre and Good Time Party Rentals expanded last year, Olson said.
This year promises to be just as busy, he said, with several commercial developments coming on the scene.
The five buildings constructed across the street from Westmount School, which make up a total of 51,505 square feet of commercial space, will begin filling up in 2016, he said. The new Pinnacle Medical Centre will be located at the site.
“We’ll see things like Save-On Foods at 100 Southbank,” said Olson. “There will also be three commercial bays coming, and there’s an application for a three-storey, 43,238 square-foot office building.”
Southbank will also see a microbrewery near Costco and a carwash.
In addition, he said, the Town continues to take serious inquiries from interested businesses, with 105 being tracked in 2015.
“We track the ones that require more effort, like maybe needing help with real estate or the permit process, but realistically there have been more inquiries than that,” said Olson.
Economic development received a phone call from a manufacturing company interested in setting up shop in Okotoks, he said, which would create six to 12 jobs. More information about the businesses will be available once they apply for their licenses, he said.
“It’s very encouraging, what we’re seeing in the community,” said Olson. “The business community stays stable even though some of our residents have been affected by the economy, which is remarkable.”
Moez Moledina, of Tristar Communities, is the developer of the Southbank business park. He said the continued interested in development has come as a shock.
There have been a lot of inquiries into Southbank, he said, from potential new businesses. He expects to see at least three or four large developments in the coming year.
“I’m definitely surprised to see the interest, give the economy right now,” said Moledina. “It seems the light industrial and the commercial aren’t slowing down and continue to grow. It’s very good, unexpected news.”
