Some new is boring to many people – who cares what the city is spending on road maintenance?

Not me! At least not directly… What I am interested in is what the local financial & economic news means to my situation.  For instance if that road maintenance makes life easier for commuters, perhaps an area is more desirable to live and I can pickup deals in that area before prices rise.

Deals fund my desired life, and they can for you too!  To find clues on living your life on your terms check out these news stories:

 

Feb 22 – Kaktus Flats: Kamloops’ New(?) Raw Land Development

I’ve not seen it in any major or local news, but the Kaktus Flats development is bringing more much needed industrial land to Kamloops.  I saw a sign yesterday as I was driving to do some showings to new tenants, and did some research.  You heard it here first!  “Kaktus Flats offers a unique opportunity for corporations looking for industrial and commercial sites. The [Kamloops] location complements the Trans-Canada and Yellowhead highways combined with the two national railways CN and CP, makes it the best-situated intermodal facility within the province.” Read more about this developer who has stepped up to develop 82 acres of industrial land in Kamloops in response to increased demand on their website here.

 

Feb 21 – Sales are up y/y: BCREA

Kamloops is second only to Chilliwack for January sales in B.C. smaller cities.  In fact Kamloops, Chiliwak, Greater Vancouver and Fraser Valley are they only Real Estate boards that have posted higher residential sales in than the year before.  Lower sales than the same time in 2014 have been recorded in BC Northern, Kootenay, South Okanagan, Powell River, Okanagan Mainline, Vancouver Island and Victoria RE boards.

Kamloops is experiencing growth in values and sales as much of the rest of the province struggles.

 

 

Feb 20 – Moving the bar: How we are sold that inflation is only 2%.

I got an email from Stats Can this morning detailing how the “basket of goods” used to measure inflation has changed again.

I am not a conspiracy theorist, but I have found it interesting that conventional wisdom traps people in mediocrity.

 

Feb 19 – 700 Athletes and Coaches in Kamloops this weekend

There is another tournament in Kamloops, one of many that bolster the tourism industry in Kamloops. Read the story here.

 

Feb 18 – Kamloops New Law School Gains Renown

Thompson River’s University new law school beat out UBC and UVic in a recent competition. The more attention Kamloops gets, the more applicants to the school and perhaps a chance at further growth to meet the demand.

 

Feb 18 – TCH to get $151M upgrades between AB and Kamloops

The recently released budget allocated $151M to improve the TCH to Kamloops over the next 3 years. It is part of a $650M commitment for improvements to be spent by 2022. Improved infrastructure in an already bustling transportation industry is good for Kamloops. Details here.

 

Feb 17 – Direct flights introduced: Kamloops to Edmonton

Daily flights to Edmonton are now here. Calgary already had twice daily flight, but due to increased traffic the Edmonton route was introduced. “Kamloops is a great getaway destination with skiing, golfing, wineries, and more; and for Kamloops, Edmonton is a big draw for business, shopping and festivals, and it’s a key connection for workers commuting to northern Alberta and northern Canada.” Read more.

 

Feb 16 – Kamloops Rent Bank Increase

The rent bank provides one-time emergency loans to families and individuals to help cover rental costs and has been in operation in Kamloops for 2 years. $15,000 per year will be added to the rent bank.  For what this means to landlords, please read “How to be a socially responsible landlord”

 

Feb 15 – Kamloops Dylan Armstrong finally awarded Olympic medal

Olympian Dylan Armstrong was finally awarded his 2008 bronze medal.  He had missed the bronze by less than a centimeter to a competitor who has since had the medal stripped for cheating with performance enhancing drugs. Congratulations Dylan, we are very proud of you!

 

Feb 12 – Ajax Mine update: $59M spent in 2014

Progress in develop Kamloops’ newest mine is well underway. “This schedule will enable mine construction to begin in 2016 with production commencing towards the end of 2018.” Read full story here.

 

Feb 9 – Housing Starts Kamloops up 150% for Jan y/y

Housing starts in Kamloops are up for January 150%. Sounds impressive right?  Well there were more, but it was only 6 more for a total of 10.  It’s important to understand percentages can be manipulated to make good news seem amazing, and likewise bad news can seem horrendous.  Anyway, things are steadily increasing all over the Thompson-Okanagan, you can real about it all here: Castanet.net

 

Feb 8 – Kamloops gets $231,000 for arts

Five groups in Kamloops are receiving more than $231,000 worth of grants from the B.C. Arts Council. Read more.

 

Feb 8 – Kamloops Innovation Centre the answer for start ups

There is a trend that Kamloops startups have embraced. “Coworking is a global movement that recognizes that people work better together than they do alone.”  Basically it is a shared office space where startups have access to amenities they usually cannot afford such as a boardroom, office space, and private meeting rooms.  Since the majority of employers are small businesses, a place to foster small business growth is great! Details here.

 

Feb 6 – Mine emissions far less than trumped up numbers

Ajax opponents cited high particulate matter by local mines, so another mine “will result in serious health problems.”  Turns out there was an error in the date for New Gold’s numbers thanks to ” incomplete year of data and an error on a spreadsheet” and the originally touted 1,700 tonnes of PM2.5 release was actually only 20 tonnes.  The company notes it installed a high efficiency dust collection system that reduces the total particulate matter by ‘greater than 95 per cent’ in 2013. The same could be done for Kamloop’s newest mine. Full story.

 

Jan 30 – Kamloops is well positioned to take advantage of an LNG boom in British Columbia

“From mining to forestry, from health care to post-secondary education, Kamloops is an integral logistical hub for goods and services with talented and skilled people,” said Keane, the president of the B.C. LNG Alliance.  Read more.

 

Jan 31 – Sun Peaks extends ski season

“New terrain on the northeast aspect of Tod Mountain provides some of the best and latest spring skiing in the area,” says resort spokesman Aidan Kelly. Visitors will be able to ski at the half-day lift ticket rate from April 7 to 12. to check out the new runs that now make Sun Peaks Canada’s second largest ski area. www.SunPeaksResort.com/Tod-Mountain-Days.

Jan 28 – New city council maps out 4 year plan

Council agreed on the following immediate short-term priorities at a recent planning meeting: Cultural centre business plan: Official community plan; Service capacity review; Industrial land strategy; and Downtown revitalization bylaw review. Council is forward looking and interested in the growth of Kamloops. Read more.

Jan 23 – More Highway improvement near Kamloops

The second phase of the Pritchard to Hoffman’s Bluff project will widen 3.1 kilometres of Highway 1 from two to four lanes, improving safety through one of the most challenging sections of the route. The project is part of a commitment to invest $650 million over 10 years into Highway 1 between Kamloops and the Alberta border. Full article.

 

Jan 22 – More Tourism for Kamloops

There are too many events being put on in Kamloops to keep track of, with many new ones bringing the crowds. Events such as put on by the new Kamloops Wineries Associationhigh-flying free ride mountain bike event The FEST that is stops here during it’s worldwide tour, and Slide the City are just a few recent examples.

 

Jan 20 – Layoff causes concerns, digging deeper reveals the truth

Many people may be concerned by the news that 48 people were laid off at Horizon North, but I spoke with a field manager who advised me things are not as bad as they seem.  The people who were laid off locally were offered jobs in the field but declined to pursue other opportunities. THEY COULD HAVE KEPT THEIR JOBS BUT CHOSE NOT TO.  Also of interest is that Horizon North(1800 employees company wide), which builds mobile homes for the camps in the oil and gas industry, is bidding on the contract to build the camp at the Site C Dam, and it will be the biggest contract they ever had.  With that magnitude of a camp, will real estate in northern BC take off as much as expected? That remains to be seen.

 

Jan 19 – Airport has another record breaking year

In 2014, 312,895 passengers passed through the airport, a 7.2 per cent increase over the 290,394 passengers who used the terminal in 2013. Read entire story.

 

 

 

So far, the economics for Kamloops first 2 month of 2015 show business as usual: further steady growth.  Looking forward to higher rents and values soon!

 

Comments or question, please leave them below. For regular updates on the Kamloops Economic Fundamentals, please subscribe to the Invest Kamloops Newsletter.

 

Until next time,
Stay S.A.F.E.