Kimberley Community Profile and Business Guide Stake Your Claim in Kimberley
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Kimberley Community Profile and Business Guide Stake Your Claim in Kimberley INVESTMENT OPPORTUNITIES 4 Small Town Living 6 Affordability 7 Transportation 7 Retail 8 Table of Business to Business 9 Light Industry 10 Skilled Trades 11 Contents COMMUNITY PROFILE 12 Demographics 14 Labour Force 17 Income 21 Taxes 23 Real Estate 25 Business Profile 26 Education 27 Transportation 28 Utilities 31 Quality of Life 32 BUSINESS GUIDE 38 Zoning 40 Rezoning and OCP Amendment 40 Zoning Amendments 41 Subdivision 41 Subdivision Application Process 41 Building Permits 42 Development Permits 43 Development Variance Permits 44 Board of Variance 44 Sign Permits 45 Business Licenses 45 British Columbia and Canada Information 46 CONTACT INFORMATION 48 CREDITS 48 3 Investment Opportunities Small Town Charm + Big City Amenities 01{ = Opportunity Kimberley is a mountain community bursting with possibilities. Explore the business opportunities that exist in Kimberley and take advantage of the Founded in 1891 with the establishment of area’s growth, highly skilled resident labour the famous North Star and Sullivan Mines, force, excellent travel connections, and cost- the town has a century-long storied history effectiveness of living and working locally. of building community while adapting to Opportunities exist in retail and service changing economic conditions. Growth in industries, light industry and skilled trades. Kimberley is driven by a spectacular natural The Kimberley economy is restructuring setting, charming small-town character, with a diversified mix of tourism, construction, and the relaxed lifestyle enjoyed by both forestry and entrepreneur-driven business – locals and tourists. Year-round recreational wouldn’t you like to be part of it? activities abound in this safe, affordable community that is only now being discovered Stake Your Claim in Kimberley! by the world. Small Town Living A Population on the Rise Kimberley offers a spectacular lifestyle for Kimberley is experiencing growth once again, increasing the demand families, active retirees, and lovers of the for locally-sourced consumer goods and services. Population grew by outdoors. Recreational pursuits include 1% per year from 2001 to 2004 following several years of population loss anticipating the closure of the Sullivan Mine. Housing starts are world-class skiing at Kimberley Alpine rapidly increasing from a low of 31 in 2001 to 162 in 2005. The number Resort, fishing in the many mountain of part-time residents has also increased significantly as Kimberley attracts purchasers of recreational properties from neighbouring lakes, streams, and rivers, hiking the Purcell Alberta and around the world. The share of Kimberley’s housing stock or Rocky Mountains, or golfing one of owned by non-residents increased from 20% in 2000 to 32% in 2005. Kimberley’s three championship golf courses. The community is developing Tourist Traffic a new aquatic centre and has a full Kimberley’s thriving tourist industry draws visitors to the town with complement of sports, recreational and year-round recreational opportunities that include Alpine and Nordic skiing, snowboarding, golfing, hiking, fishing, mountain biking, river cultural programs for all ages. rafting, and horseback riding. A typical year now sees more than 120,000 skier visits to Kimberley in winter and 70,000 rounds of golf Kimberley has maintained a friendly, small in summer. These activities are complemented by the cultural town atmosphere. Kimberley citizens attractions that Kimberley offers, including the Bavarian City Mining Railway and the famous Kimberley International Old-Time Accordion demonstrate great community spirit with Championships. As well, natural attractions such as Marysville Falls their active volunteerism and participation and the dazzling Cominco Gardens entice a wide variety of tourists in community festivals and events. This to the area. creates a caring and safe community that Business Amenities provides the ideal place to live. At the same Kimberley has all modern telecommunications requirements, including time, Kimberley provides a supportive high-speed internet service throughout the community and full infrastructure and all of the necessary digital cellular coverage. City water and sewer infrastructure is sound connections to successfully operate a wide and has capacity for growth. Kimberley also has a supportive business community through the Kimberley Chamber of Commerce. variety of businesses. 6 Single Family Home Affordability Average Sale Price 2005 Kimberley housing costs have increased Average Price % change from 2004 in recent years, but remain much less expensive than other communities in Vancouver* $566,000 19% the Kootenays or the closest major Seattle** $472,000 13% cities of Vancouver, Calgary, Spokane Invermere $318,000 1% and Seattle. Industrial and commercial Fernie $293,000 32% Spokane** $291,000 15% land costs and lease rates are similarly Calgary $278,000 14% less expensive in Kimberley. Golden $234,000 7% For those interested in getting away from Nelson $232,000 22% Kalispell** $195,000 0% it all, Kimberley also has close proximity Rossland $192,000 28% to lakefront, rural and forested acreages. Kootenays $182,000 19% Cranbrook $164,000 21% Kimberley $146,000 25% Creston $135,000 24% *Vancouver price is a 3-month moving average for Oct-Dec for a “bench- mark” property, which is a typical single family home in the market. **American city prices based on Coldwell Banker Home Price Comparison Index for 2005, converted to Canadian dollars at $1.22 to $1 US. Sources: Kootenay Real Estate Board, Greater Vancouver Real Estate Board, Calgary Real Estate Board, Coldwell Banker Transportation Kimberley has excellent transportation connections. The Canadian Rockies International Airport, located a mere 15-minute drive from Kimberley, offers numerous flights daily to Vancouver International Airport and to Calgary. The airport is extending its runway to 8,000 feet to allow larger planes to land. This will facilitate direct flights from more distant locales in North America and even Europe, including charter aircraft bringing tourists to the amazing ski resorts, golf courses and other area attractions. By road, Kimberley is only 1 hour from the U.S. border, about 3.5 hours from Spokane (332 km – 206 miles) and approximately 4 hours from Calgary (392 km – 244 miles) to the east. 7 Retail 1.1. Retail Prospects Kimberley’s thriving four season tourist trade and increasing population are currently under-serviced by the retail sector. There are three main commercial areas in Kimberley, each offering something different to consumers. The pedestrian-only Alpine-style Platzl in the heart of Kimberley is the community’s central gathering place and an active destination for festival and tourist traffic. Marysville Village is the “downtown” of the formerly separate community of Marysville in Kimberley’s south end, featuring a charming Main Street with restaurants, offices, retail and personal services mingling along several blocks. The Kimberley Alpine Resort Village is the emerging commercial focus of the newly developed areas on Kimberley’s resort mountain. There are also pockets of secondary and neighbourhood commercial development in various areas of the city. The underdeveloped retail sector in Kimberley is due in part to the economic flux caused by the 2001 closure of the Sullivan Mine. The commercial real estate market offers prime space available at reasonable lease rates, a situation that may not last long as growth continues! This creates an exciting opportunity for the savvy investor to enter the local market and participate in the next wave of growth. Potential retail opportunities in Kimberley*: 1. Computers and electronics [ INVESTMENT 2. Appliances 3. Home centres, including building materials and hardware 4. Men’s & Women’s clothing 5. Gardening supplies OPPORTUNITIES 6. Shoe Store 7. Fish and seafood market *According to preliminary market analysis of Kimberley in relation to similar British Columbia communities. Investors should conduct further due diligence before pursuing any of these opportunities. ] 8 Business to Business 2.2. Kimberley also has significant potential for growth in professional and business services. Lawyers, accountants, Canadian Rockies International Airport to Vancouver and Calgary and their international airports, or by driving to Spokane for direct air access to the and other professional services are needed to serve the American market. Kimberley’s telecommunications infrastructure supports “e-businesses” and professionals operating from a Kimberley location. growing residential and business markets in Kimberley Professional and business service firms are typically small and owner- and could potentially work from a community base to operated. Once again, the lifestyle and amenities available to town residents at an affordable price make Kimberley a very attractive place serve the broader East Kootenay region and national to live. The recreational opportunities, affordable housing and small and international markets. town atmosphere combine to create a very enticing package for both families and those at or nearing retirement age. Kimberley is also located near a major regional hospital in Cranbrook and has developed its own comprehensive health centre, bringing together doctors, a pharmacy and various related therapists and health practitioners in one centrally located facility. B2B opportunities in Kimberley*: 1. Accounting 2. Landscaping 3. Insurance 4.