Canada’s Best Places for Business 2016

Sylvan Lake, Alta.

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Population: 14,953
Annualized population growth (%) 3.16
Avg. household income ($): 117,103
Total value of building permits issued, most recent year ($): 97,010,163
Avg. office lease rate ($ psf/yr): 15.75
Corporate income tax rate (%): 27.0
City website: www.slavelake.ca

Market

Pop. within 1 hr commuting distance: 263,228
Adults who have completed apprenticeship, trades certificate or diploma (%): 13.82
Adults who have completed university degree (%): 15.04
Adults who have completed bachelor''s degree (%): 75.21
Unemployment rate, most recent month (%): 11.12

Costs

Avg. home price ($): 425,440
Avg. retail lease rate ($ psf/yr): N/A
Avg. industrial lease rate ($psf/yr): N/A
Avg. general lease rate ($psf/yr): 15.75
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): N/A
Peak electricity cost for mid-size industrial business ($/kWh): N/A

Taxes & Regulation

Business license cost ($): $50 to $199
Avg. processing time for building permit, most recent calendar year: Less than 3 weeks
Non-residential property tax rate (% of assessed value): 14.211000
Commercial property tax rate (% of assessed value): N/A
Industrial property tax rate (% of assessed value): N/A
Small business income tax rate, if different (%): 13.5
Sales tax (%): 5
Special regulations or zoning: Sylvan Lake has a waterfront commercial district under direct control, and requires that developments conform to its Waterfront Urban Design Guidelines

Other

Largest employers: C & J Energy Services; Walmart Canada; RedCore
Leading industries: Manufacturing; Retail; Tourism
Value of capital projects >$5 million planned or under construction ($ million): 51,000,000
Special amenities: Sylvan Lake has a 1.6 kilometre beach and 3-kilometre waterfront promenade. It hosts the Sylvan Lake Hockey School and other sports camps.
Special economic development initiatives: The city completed a Retail Gap Analysis in 2016, struck a Waterfront Commercial District revitalization committee and implemented a new Mobile Vending & Busking bylaw.