Industrial businesses growing in Okotoks

Business is booming in Okotoks despite the province's economic decline.

In the first three months of 2016, the Town saw $8 million in building permits issued. It's a record amount and was unexpected, said economic development manager Shane Olson.

“The Alberta economy is so unstable right now, but there seems to be a bit of a bubble around Okotoks in terms of business growth,” said Olson. “People want to be here, they want to do business here.”

Among some of the major developments on the horizon are a number of office developments, which are somewhat new to the Okotoks landscape, he said.

Two new medical clinics are set to open, one in July 2016 and one in 2017, offering everything from physicians to specialists and a pharmacy, he said.

In addition, a three-storey building broke ground on May 26 and will offer 43,000 square feet of office space for lease.

Olson said there is a benefit to the entire community in having medical and other offices available in town.

“The business-to-business spin-offs are great here,” he said. “People working in these offices are providing services to other residents and employees, but they also eat lunch, buy supplies and make other purchases in town.”

The office building is a project of the Big Horn Investors Club, which has contributed to a number of developments in Okotoks including Dr. Gallup's office on Elma St. and the Centennial Village shopping centre.

Bob Berrien, chairman of the real estate committee for the club, said the members saw a lack of office space in Okotoks and decided to invest in the construction of the building.

“The building is being built on-spec, and it's designed for office space – doctors, lawyers, accountants, anything that uses an office is our potential market,” said Berrien.

A leasing agent will sell the space, which will be divided as companies come forward and indicate their needs, he said.

Offices will be ready for tenant upgrades in about one year, and should be ready for occupancy by the end of summer 2017, he said.

Contributing to the town's economy was important to club members, he said.

“This is hometown for us,” said Berrien. “We love Okotoks and that's why as an investment club all our projects are right here in town. It's a number of people who believe in Okotoks and want to invest in its growth.”

In addition to office space, the Town has also seen a boom in the industrial park, Olson said.

He said the Okotoks Business Park is 70 per cent sold out, and of those 80 per cent were previously located in Okotoks.

“When they vacate their old locations, it gives other businesses room to start up or expand as well,” said Olson.

There are also vacancies in developments like Camshay Plaza, which currently has space for industrial warehouse types of businesses, he said.

“These are new business and new employment opportunities, but they're also bringing dollars to the municipality, which helps reduce residential taxes,” said Olson. “The differential for businesses is currently 1.38 per cent, which helps offset the tax burden for residents.”

He said the Town is now focusing on drawing entrepreneurs to Okotoks, including shop owners and manufacturers.

The business park has become home to companies like Chromeez Inc., which manufactures chrome logos of professional sports teams for vehicles.

The company is moving into an 8,000 square-foot space by the end of June. Decals, which are made in Edmonton, will be coated in chrome in Okotoks.

Ricardo Vial, owner of Chromeez, said he's excited to do business in town.

“What I really love about Okotoks is it's not Calgary,” said Vial. “There's not all the red tape and less of the bureaucracy to get up and running here in Okotoks. It's a lot friendlier process than Calgary provides.”

Thought he intends relocate into town soon, for now Vial said he enjoys the commute from the deep south of the city to work in Okotoks.

“It's a gorgeous facility, pristine,” said Vial. “The drive is beautiful, it's a great town. Those are just some of the reasons I chose Okotoks.”