City of Vernon 2017 Economic Review

Transcription

1 City of Vernon 2017 Economic Review

2 Name North Okanagan 83,271 84,819 85,402 86, % Vernon 39,294 40,724 41,375 42, % Unincorporated Areas 18,689 18,581 19,673 18, % Coldstream 10,556 10,855 10,926 11, % Spallumcheen 5,176 5,157 5,135 5, % Armstrong 4,894 4,963 4,861 4, % Enderby 2,887 2,840 2,806 2, % Lumby 1,775 1,699 1,626 1, % Central Okanagan 190, , , , % Kelowna 121, , , , % West Kelowna 33,266 33,487 33,351 33, % Lake Country 12,635 13,030 12,984 13, % Okanagan-Similkameen 81,775 82,662 80,488 87, % Penticton 34,070 34,492 32,847 34, % Summerland 11,131 11,503 11,326 11, % Osoyoos 4,818 4,886 4,852 4, % Thompson-Nicola 133, , , , % Kamloops 89,733 90,563 91,596 92, % British Columbia 4,646,462 4,694,699 4,757,658 4,817, % Population Estimates

3 2016 Census Demographics

4 180, , , , ,000 80,000 60,000 40,000 20,000 0 ($000) Total Building Permits

5 140, , ,000 80,000 60,000 40,000 20,000 0 ($000) Residential Building Permits

6 Total Residential Units

7 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 ($000) Commercial Permits

8 Building Permit Activity Total Building Permit Value: $130.1 Million Single Family: $ 69.1 Million Commercial: $ 11.5 Million Permits issued: 433 Units created:

9 Neighbourhood Units BP Value (million) Predator Ridge 61 $ 31.1 Foothills 49 $ 13.0 Bella Vista West (A. Bay, C.L.E) 21 $ 9.9 City Centre 62 $ 9.6 Middleton Mountain 31 $ 5.7 Okanagan Hills (The Rise) 14 $ 5.0 South Vernon 29 $ 4.6 Okanagan Landing South (inc. S.H.) 25 $ 4.5 Okanagan Landing North 13 $ 4.4 Okanagan Landing East 12 $ 3.8 Other 65 $ 9.6 Total 382 $ New Units by Location

10 2017 North Okanagan Sales Volume steady 2017 $1.1B 2016 $1.0B 2015 $667M Single Family steady 2017 $575M 2016 $570M 2015 $362M Single Family Dwelling prices increasing Average SFD $471k (2017) $430k (2016) Median SFD $433k (2017) $385k (2016) Vacancy 1.5% (CMHC Oct 2017) Source: Okanagan Mainline Real Estate Board Residential Real Estate

11 Parkwood Retirement (Regency) 150 units BX Crossing 86 units The Hub 57 units Sparkling Hill (Employee Housing) 21 units Barnard s Village 78 lots Residential

12 VSL Computers Commercial

13 Industrial

14 MultiPlex North Institutional

15 Proposed Developments

16 Four Points Sheraton 120 Rooms 6 storey 400 seat Conference Centre Best Western Premier 114 Rooms 6 storey 85 Seat Restaurant Commercial

17 3400 Centennial Drive 5 storey on top of parkade 60 rental units DVP & DP Approved Jul 17, 2017 BP Issued Jan 10, 2018 Value $9.7 million The Terraces

18 Avenue 4 storey apartment 37 Rental Units Rezoning received 3 rd reading on May 23, 2017 Vernon Native Housing

19 4.5 storey Approximately 48,000 sq ft 43 rental units Ironclad Development DP/DVP November 3, A St

20 Former Liquidation World 6 Lease Spaces (19,000 sq ft) DP November 22, Avenue

21 Ten Buildings with 28 units DP Application June 13, Heritage Drive

22 Silver Pines Estates 15 Lots Duplex 5350 Silver Star Road

23 Birdie Lake Drive Subdivision & DP December 14, Unit Multifamily Predator Ridge

24 Creekview Heights Rezoning Application Nov 20, 2017 DVP Jan 30, 2018 Propose to construct three 72 unit apartments 4 storey 72,696 sq ft buildings Total of 216 units 5770 Pleasant Valley Rd

25 20 Acre Site Proposed to include attainable and affordable units Designated small lot residential McMechan Lands

26 Regional

27 Announced on Nov 21, 2016 $6.21 Million Project 13,450 sq ft Accommodate approximately 150 students Trades shops Aboriginal Trades Training Carpentry Electrical Plumbing & Pipefitting Residential Construction Welding Women in Trades Training New Trades Building

28 9622 Hill Drive, Coldstream 1969 to ,796 sq ft Warehouse: 274,560 Factory: 148,340 Office: 11,296 Others: 14,600 Property is 96.1 acres 73.7 acres 21 acres 1.4 acres Announced on October 5, 2016 Proposed new jobs Restoration Lands

29 Announced January 2, 2018 that it is purchasing 40 acre site in Lumby Working through Health Canada approval process Plan to build 16,000 sq ft grow facility and 9,000 office/packaging employees to start Potential to build up to 1 million sq ft True Leaf

30 Microbiology and Quality Control Technician Agronomist Announced $60 M investment in Coldstream 700 acres of land including 70 75,000 sq ft facility Brand: Fresh Attitude! Over 150 Jobs Machine Operator Electromechanical Technician Operations Engineer Team Leader Shipping/Receiving Harvest Supervisor Veg Pro International

31 Technology

32 $750,000 $700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 Total Room Revenue Year Amount % Change 2016 $ 34,662, % 2015 $ 30,831, % 2014 $ 26,787, % 2013 $ 21,924, % 2012 $ 20,338, % 2011 $ 17,407, % 2010 $ 14,349,711 $438, $406, $348, $286, $693, $616, $535, Hotel Tax Revenue

33 MONTH Room Revenue 2% MRDT % Change (16/17) January $1,133,690 $ 22, % February $1,703,298 $ 34, % March $2,078,411 $ 41, % April $2,451,556 $ 49, % May $3,275,105 $ 65, % June $4,445,793 $ 88, % July $5,634,118 $112, % August $4,854,401 $ 97, % September $4,419,028 $ 88, % October $2,637,021 $ 52, % November $2,106,212 $ 41, % YTD $34,738,630 $694, % 2017 Hotel Tax

34 Sparkling Hill Resort O Keefe Ranch Gray Monk Estate Oyama Ziplines Filmed: June 9 13, 2017 Aired: September 13, 2017 Marilyn Denis Show

35 Economic Development Activity (2014 to 17) Building Permits 34% increase 1,109 new units approved Population 7.4% increase Room Revenue 36% increase (est) $9.7 million in media City Centre Over $42 million in Building Permits issued Over 100 new businesses in primary BIA area Council Strategic Plan

36 Events & Activities

37 January 18, 2018 Over 100 people registered Presentations: Structure/Economic Impact Marketing Opportunities Visitor Services What makes Vernon, Vernon? Tourism Vernon Open House

38 International Council of Shopping Centres January 28 30, 2018 Okanagan Valley Booth 2018 ICSC

39 February 13, 2018 Nominee Luncheon March 9, 2018 Awards Night 2018 Manufacturer of the Year Past Winners: 2017 Heluts Sausage Kitchen 2016 Universal Packaging 2015 Piscine Energetics* 2014 Creative Connectors 2013 Kingfisher Boats* 2012 Tolko Industries* 2018 Business Excellence

40 2018 Vernon Job Fair April 10, 2018

41 Over $35,000 in prizes Awards & Tradeshow April 12, Winner Jolly Good Spudz (NOW OPEN) 2018 Enterprize Challenge

42 Kevin Poole Manager, Economic Development & Tourism City of Vernon Tel: Questions?