Both Cranbrook and Kimberley are under the average property tax gap of 2.60 between residential and business for B.C communities: Cranbrook’s property tax gap is 2.57 and Kimberley’s is 2.54.
- From 2010 to 2015, Kimberley lowered its Municipal Property Tax Gap by 6.6% (Total Average Property Tax for Kimberley is $7,178). From 2010 to 2015, Cranbrook lowered its Municipal Property Tax Gap by 15.5% (Total Average Property Tax for Cranbrook is $6,743.)
Teamed up for growth
In seeking business investors, the Cranbrook-Kimberley Development Initiative (CKDI) faces a competitive market. Most of small-town British Columbia can boast exceptional recreation, affordable living and significantly lower real estate costs than the province’s cities. So why should investors choose to establish businesses in this little slice of the Kootenay region?
Let me count the why’s
First, these two communities are ideally located geographically. Cranbrook is located on Highway 3, the transportation corridor that links the Port of Vancouver with the rest of Canada. The vast bulk of the goods we use comes to the area via Highway 3. For the convenience of local manufacturers, that highway runs both ways. Proximity to the U.S. border, about an hour south of Cranbrook, is another advantage.
The Canadian Rockies International Airport lies between Cranbrook and Kimberley and is the second-fastest growing airport in Canada. Convenient daily flights link the two communities with the rest of the country and the world.
Cranbrook is the largest community on Highway 3 between Vancouver and Lethbridge, Alberta, and it is the commercial hub of the East Kootenay. Kimberley, less than 30 minutes north of Cranbrook, has an exciting assortment of amenities and opportunities within easy reach of Highway 3.
Together, Cranbrook and Kimberley have a strong, stable economy thanks to diverse industry sectors like mining, forestry, manufacturing, logistics and transportation—some of the sectors CKDI is targeting.
Between them, the two communities offer other services and amenities to attract businesses and their workforces: affordable real estate, a regional hospital, education from preschool through college, theatres and cultural events, excellent year-round recreation and many others.
Another reason to choose the Cranbrook-Kimberley area is the progressive, co-operative municipal leadership—mayors, councils, CAOs and economic development staff have an eye on the future and a mindset that recognizes and manages opportunities and risks. It’s a rare situation where two administrations are pooling their resources and their efforts to achieve a shared vision.
Source: Kootenay Business. Click here to read the full story.