Highlights of the presentation include:
Discussion to understand needs of our residential and business community so the Economic Development office can assist with requests and provide sources of information.
Business Economic Indicators and Data Sets
- West Kelowna (16 categories):
- Census Data;
- Population Estimates;
- Business License Numbers;
- Business Licenses by NAICS Sector;
- New Business License Applications;
- Business Insolvencies;
- Individual Insolvencies;
- Community Job Data - COEDC;
- Community Development Activity;
- Real Estate Activity Volume and Average House Prices;
- Westbank Centre Vacancy Estimate;
- Industrial Area Vacancy Estimate;
- Municipal Property Tax Multipliers;
- Employment by Sector;
- Short Term Rental Data;
- Visitor Centre Visitation Statistics;
- Kelowna CMA/Regional (8 categories):
- Census Data;
- Population Estimates;
- Individual Insolvencies;
- Business Insolvencies;
- Labourforce Data:
- Regional Business License - COEDC;
- Regional Job Data - COEDC;
- Tourism Data - Tourism Kelowna;
John Perrott, Economic Development Manager, asked the group the following questions: What data points are most useful for businesses? Is there data they may need that's not here? What format is best for them?
Highlights of the discussion include:
- Business license insolvencies least accurate;
- Insolvency numbers are inaccurate for 2020 as some businesses took advantage of government programs;
- Would like to see more information on how interest rates impact business decisions;
- Business licensing by sector skewed however still a benefit to see numbers;
- Household revenues declared may be skewed with home based businesses;
- Home based businesses that have grown into commercial space (individually or shared);
- Business license length would be helpful;
- Is there a way to capture commercial real estate rental availability? Currently trying to identify. Rental listings are difficult to track; Commercial real estate typically have their own means for selling vs. using realtor.ca; Sub leases are not tracked information;
- Business owners to know demographics of who lives in West Kelowna and works in Kelowna and vice versa would be beneficial.
Residential Economic Indicators & Data Sets
- West Kelowna (6 categories):
- Census Data;
- Population Estimates;
- Neighbourhood demographic information;
- Real Estate activity - average house prices;
- Single Family Housing Stats;
- Municipal Property Tax Multipliers;
- Kelowna CMA/Regional (3 categories):
- Population Estimates;
- Municipal Property Tax Multipliers;
- Rental Data: Vacancy and Average Rents;
John Perrott, Economic Development Manager, asked the group the following questions: What data points are most useful for new residents to the community? Is there data they may need that's not here? What format is best for them?
Highlights of the discussion include:
- Would like to see lists of small/medium development projects;
- Residential break down of Condo/Strata data would be useful;
- Possible breakdown of freehold, strata vs rental;
- Recommended to list stores and services that are located on the Westside; Important to highlight that we have other amenities nearby;
- Neighbourhood community group postings include inquiries about schools, neighbourhoods, walkability, parks, sports fields, etc;
- Would be beneficial to include map of each neighbourhood area to show distance to parks, schools, etc;
- Economic development cant be separated from the Social development; Magnets and Glue article referenced from City of Calgary.