Canada’s Best Places for Business 2016

High River, Alta.

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Population: 15,984
Annualized population growth (%) 3.56
Avg. household income ($): 90,732
Total value of building permits issued, most recent year ($): 22,583,334
Avg. office lease rate ($ psf/yr): N/A
Corporate income tax rate (%): 27.0
City website: www.highriver.ca

Market

Pop. within 1 hr commuting distance: 1,354,263
Adults who have completed apprenticeship, trades certificate or diploma (%): 11.34
Adults who have completed university degree (%): 16.03
Adults who have completed bachelor''s degree (%): 68.72
Unemployment rate, most recent month (%): 6.13

Costs

Avg. home price ($): 419,217
Avg. retail lease rate ($ psf/yr): N/A
Avg. industrial lease rate ($psf/yr): N/A
Avg. general lease rate ($psf/yr): 21.82
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.0069
Peak electricity cost for mid-size industrial business ($/kWh): 0.0069

Taxes & Regulation

Business license cost ($): $50 to $199
Avg. processing time for building permit, most recent calendar year: Less than 2 weeks
Non-residential property tax rate (% of assessed value): N/A
Commercial property tax rate (% of assessed value): 1.035990
Industrial property tax rate (% of assessed value): 1.035990
Small business income tax rate, if different (%): 13.5
Sales tax (%): 5
Special regulations or zoning: N/A

Other

Largest employers: High River Hospital; Town of High River; Western Financial Group.
Leading industries: Agriculture; Construction; Professional, Scientific & Technical Services
Value of capital projects >$5 million planned or under construction ($ million): 16,300,000
Special amenities: High River is favoured for bridwatching, fly fishing, cyling and other outdoor recreation. It hosts the annual Balloon Festival and a nighttime Christmas Parade.
Special economic development initiatives: Following the flooding of 2013, High River has rebuilt its downtown with an eye to density and walkability and is streamlining its land-use regulations to promote more development of the area.