By Katie Ryan
Lloydminster’s business community has reason to celebrate. Reports by Alberta Venture Magazine, the Canadian Federation of Independent Business and BMO Capital Markets have all ranked the Border City among the top cities in their economic studies.
Earlier this month Lloydminster took seventh place as one of the ‘10 Best Communities for Business’ in the June 2010 issue of Alberta Venture Magazine.
“It’s good to be acknowledged by others in this way in addition to, of course, ourselves knowing how well we are doing to be recognized by both provinces and across the country,” said Ward Read, the city’s community development officer.
Taking the top spot is the MD of Rocky View, whose commercial and industrial development are said to complement a rural lifestyle by the magazine.
Communities were ranked according to rental rates, taxes, land costs, market size, transportation access, licensing fees, taxes, average income and amenities. According to the report, Lloydminster’s growing population, $70 million total worth of major projects including the new the Husky Energy Office and special amenities such as Sandy Beach Regional Park, Mount Joy Ski Area and Travel Alberta and Tourism Saskatchewan Visitor Information Centres are major draws. Lloydminster was also applauded by Alberta Venture’s April 2010 special report, “10 Places to Be in Saskatchewan” which rounds up the province’s economic and business startup hot spots and includes the Border City in its top 10 ranking.
“Success breeds success and Lloydminster has a rock-solid business community with many able partners,” said Mayor Jeff Mulligan in a statement. “These reports highlight the positive business momentum we are carrying forward as well as the bright future that Lloydminster has in store for itself.”
Lloydminster’s glowing reports are due in large part to the city’s location – straddling two provincial borders – said Read.
“One of the things being around the border, it provides opportunity that doesn’t exist down the road in North Battleford or in Camrose or other comparable cities. We do have some opportunities to look at different regulations and settings that other communities don’t have, but it helps I think enhance the thought processes and strategic thinking of our business people,” he said adding the new downtown retail development is an example of new innovation in the business community.
“They might have a few extra hurdles to jump over, but they have a few opportunities to take advantage of. I think it just has our business community thinking in such a different and dynamic way.”
Read said recognition for Lloydminster’s business environment is not new, nor is it limited to Alberta and Saskatchewan. In October 2009, BMO Capital Markets’ “Small Business Juggernauts” report ranked Lloydminster as second in Canada for small business intensiveness among consensus agglomerations. In 2008 and 2009 as well, the CFIB “Communities in Bloom” report named the Border City as the number one and fifth place for entrepreneurship and small business, outranking national and provincial business centres like Toronto and Calgary.
“For us locally it confirms what we know, that Lloydminster is a first rate community for business in general, but particularly for small business and it illustrates for Saskatchewanites, Albertans and Canadians that if they are seriously looking for a good place to live and operate a business, Lloydminster should definitely be one of the locations that they are looking at,” said Read.