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The Daily Commute Take the Scenic Route Weather Summer Winter lowna e an K nag and the Oka national level Thriving on a Kelowna and the Okanagan are on the rise. The region is a hotbed for those who enjoy local craft beer, food and wine, beaches and boats, as well as outdoor enthusiasts during both summer and winter. The area has also gained international attention thanks to its reputation as a hub for the tech industry. By the 3rd largest census $1.3 BN 633 240 2,000 10th metropolitan area annual tech tech companies wineries hours of sun busiest airport in BC economic impact in Okanagan in Okanagan every year in Canada Numbers Valley Valley The Kelowna r egion boasts one of the top tech and startup hubs in Canada. Kelowna is ranked the $1.50 B #1 entrepreneurial region in Canada. $1.25 B $284 M Indirect Impact 633 technology businesses, $1.00 B employing a collective workforce $223 M Indirect Impact of 7,600 employees. $0.75 B $0.50 B In 2015, the Okanagan tech industry $797 M $1.02 B contributed a whopping $1.3 billion to the Direct Impact Direct Impact $0.25 B local economy, up 30% in just two years. $0 2013 2015 52% of tech workers are under the age of 35. Direct Impact Indirect Impact Revenue generated by Revenue from businesses tech companies that supply inputs to the tech sector Source: CFIB and AO 2015 industry status High Tech Hotspot Kelowna and the Okanagan region are home to various high-profile exits such as: Digital Domain purchased Disney purchased Club Penguin Immersive Media The multiplayer virtual world was A company specializing in sold to Disney for $350M 360 video was sold for $100M The region also has the infrastructure to keep building the companies of the future, including: Responsive Post Tech 13 km of dark fibre network, Secondary Sector allowing businesses to take advantage of: UBC Okanagan Accelerate $35 million $85 million in Fast Infinite Reduced Okanagan College Okanagan Okanagan Centre local funding speeds bandwidth costs 500+ companies for Innovation available (grants supported and angel funds) Source: COEDC, Accelerate Okanagan, City of Kelowna, CBC, BC Business “The industry itself is a sleeping giant. People are starting to notice and I believe it will be the number one sector in the next five to ten years. Ten years from now, I truly believe the tech industry’s reach will double or triple to become the number one driver in the regional economy.” —RAGHWA GOPAL, CEO of Accelerate Okanagan Kelowna Central Okanagan Calgary Vancouver 1,392,609 2,463,431 (2016) People (2016) 194,882 Kelowna is the third- (2016) largest region in BC, Toronto but not so large that you 5,928,040 don't know your neighbours. (2016) San Francisco Based on census metropolitan areas (2016) Source: Canada Statistics, US Census Bureau 7,684,011 (2016) Kelowna Demographics Lake Country 12,922 Central Okanagan Electoral Areas FEMALE City of Kelowna 5,805 51.4% WFN 127,380 MALE West Kelowna 9,028 48.6% 32,655 POPULATION GROWTH Peachland (between censuses) 5,428 8.4% AVERAGE AGE 44 Source: Statistics Canada Live Kelowna and the Okanagan region is warmer, milder and more affordable. When you factor in a year’s worth of mortgage payments, Kelownians have potentially almost 65% of pre-tax household income left to spend. Gross median Median cost of Estimated yearly Income leftover household income 2 bedroom apt. mortgage cost* (%) (2012) (August 2016) Kelowna $71,127 $301,000 $25,627 64% Calgary $99,583 $264,570 $22,525 77% Toronto $78,373 $463,800 $39,487 49% Vancouver $72,662 $642,000 $54,659 25% San Francisco** $104,958 $892,563 $75,992 28% Source: Statistics Canada, Department of Numbers, * Calculated based on 5 year fixed term, 3.39% MLS Home Price Index, California Association of Realtors interest rate, 15 year amortization **All prices shown for San Francisco converted to CAD at 1.29 More bang for your buck When it comes to buying, dollars go further in the Kelowna region. $2,000,000 $1,609,600 $1,500,000 $1,152,591 $921,200 $1,000,000 $634,000 $495,000 $500,000 $0 San Francisco Calgary Kelowna Vancouver Toronto Source: Oct 2017 Median Prices, CAR, CREB, OMREB, REBGV, TREB Prefer to rent? The cost of renting a 2-bedroom apartment downtown is 25% cheaper in Kelowna compared to Vancouver. Average monthly rent for 2-bedroom apartment (2015) Kelowna CMA Calgary Toronto Vancouver San Francisco $1,151 $1,200 $1,404 $1,552 $5,834 Source: CMHC (Oct 2017), rentjungle.com The daily commute Kelowna has the shortest average commute out of these major North American cities, at just over 15 minutes. Kelowna 19.8 minutes Calgary 26.3 minutes Toronto 34.2 minutes Vancouver 29.7 minutes San Francisco 31.1 minutes 0 mins 5 mins 10 mins 15 mins 20 mins 25 mins 30 mins 35 mins This is a great daily perk for Kelowna’s commuters. Annually, the impact is huge. 0hr 50hr 100hr 150hr 200hr 250hr 300hr Kelowna & 172 hrs Time is money, Central Okanagan $4,568 so that means during one year, commuters in Kelowna 228 hrs Calgary $6,068 save up to $3,322 compared to commuters in Toronto. Toronto 296 hrs $7,890 257 hrs Vancouver $6,852 Yearly total (Hours) 270 hrs Yearly cost* San Francisco $7,175 $3K $4K $5K $6K $7K $8K $9K Source: Statistics Canada Census 2016, *Calculated by multiplying yearly commute time with with Metropolitan Transportation Commission average full time hourly rate of $26.91 (Census 2016) Take the scenic route Cycling to work is becoming more popular and where better to do it than beautiful Kelowna? The city boasts the most extensive cycling network in Canada for a city of its size, with: 40km of paved multi-use paths 300 km on-street bicycle lanes Play Kelowna’s idyllic location means there’s never a shortage of things to do, no matter the time of year. Weather Average annual precipitation levels 1,500mm 1457mm Kelowna boasts ideal summer temperatures and mild snowy 1,200mm winters. There’s no digging your car out like in Toronto, 900mm 831mm or carrying an umbrella like mm in Vancouver. 600mm 600 419mm 345mm 300mm 0mm Source: Current Results, U.S. Climate Data Kelowna Calgary Toronto Vancouver San Francisco Summer Average High Temperature in July (°c) 30° 27 °c °c The summers in the Okanagan 25 °c 26 25° 23 °c region are typically warm, with 22 °c low humidity – perfect for 20° outdoor activities. 15° 10° Source: worldweatheronline.com 5° 0° Kelowna Calgary Toronto Vancouver San Francisco Within 60 minutes, you can access: 20 2904 15 120 19 100’s 63 beautiful lakes sq kms of breweries wineries golf courses of kms of trails community including the beaches sprawled with an extended for everything parks 110km long across 10,000 season from from hiking crown jewel, acres of March to and biking to Okanagan Lake. vineyards November snowshoeing and nordic skiing When you’ve had enough of the outdoors, Kelowna’s rich arts and culture scene can entertain for days. The city’s highlights include: World-class Kelowna Art Okanagan Symphony Kelowna Pride opera Gallery Orchestra week Source: COEDC, Tourism Kelowna, Hello BC The region is also host to many international artists and events each year. Winter Where the snow is on the hills, not on your car. The Kelowna region gets top ski hill snow, with Big White was voted comparatively low urban snowfall every year with an #1 Ski Resort in Canada for average temp of 1 degree celsius in January. ‘Best Family Resort’, ‘Best Grooming’ and ‘Best Snow’. Kelowna and the Okanagan Region Toronto Vancouver Silver Star Apex Big White Glen Eden Cypress The stats for Vancouver 10 and Toronto’s biggest Skiable Acres 1900 1112 2800 600 local ski resort don’t even come close! Vancouverites could go to Whistler Blackcomb, No. Ski Runs 132 67 118 12 53 but only after a long 2-hour drive - and that’s with no tra c! Vertical Drop (m) 760 610 777 73 610 Average Annual 700 600 750 188 1100 Snowfall (cm) Other winter activities Kelowna has to offer include: Snowboarding Snowshoeing Snowmobiling Nordic Skiing Or why not support the home hockey team, the almighty Kelowna Rockets? It costs just $30 to see the 4x WHL Championship and Memorial Cup winners play. Keeping warm When the weather starts getting chillier, you can find warmth in the Fall Okanagan Wine Festival held over 10 days. If wine isn’t your thing, then how about beer? Celebrate the region’s local breweries at the annual Hopscotch Festival in September. Wine and Local Craft Drinks Business is booming in the Kelowna region. Tourists can’t get enough of Kelowna’s lakes, wine, The Okanagan weather, and golf. Tourism generates approximately Valley was named $835 million in the Okanagan Valley annually. Huffington Post's Okanagan’s wine industry is #1 Wine Destination a key part of the local economy. It is a There are ...500,000 10,323 $200 million 240 vineyards, wine tourists wine related jobs industry. welcoming over... each year. Source: Tourism Kelowna, Wine BC Craft revolution It may be known as the wine country of Canada, but the Okanagan is also home to 15 craft breweries and growing, making it an attractive destination for beer lovers too. And that’s not all. Thanks to the region’s abundance in fresh produce, local cideries use Okanagan-grown apples in their refreshing ciders. Even distilleries can take advantage by using fresh fruit to produce liqueurs that are bursting with flavour.
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