Our Economy at a Glance: Tumbler Ridge?s Economic Development Outlook and Business Opportunity Summary

For those of you who keep a close eye on the District website, the weekly Ridge Radar or are registered with our Business Information email network, you will have seen a document called the Economic Development Outlook and Business Opportunity Summary. The Outlook was originally developed in 2004 in response to the regular stream of inquiries asking, ?What?s going on in Tumbler Ridge?? It is designed to provide a broad overview of activity in the local economy for people that are interested in the information for personal or professional purposes. With the most recent edition having been published this month (Nov.07) we have decided to utilize this article to draw more attention to the Outlook and the content found within it. By doing so, it is our hope that we can gain a wider audience for the information. The content of the Outlook attempts to answer the frequently asked questions brought forward by prospective residents, investors, government agencies and community service providers. Broad topics include economic indicators (population forecasts, building permit stats, new projects), industry activity (mining, tourism, oil and gas) and a high level summary of business opportunities. For anyone that would like a copy of the latest and future Outlook updates I would suggest visiting www.TumblerRidge.ca, or contacting the Economic Development Department at Town Hall via phone (242-4242) or email (edo@dtr.ca). Businesses and individuals can also subscribe to the email information network, which distributes news and info related to the local economy as it arises. With that said, let?s bring attention to some highlights in the latest Outlook:

Population growth ? it is estimated that over the next 3 years, mining will create anywhere from 300-840 jobs in Tumbler Ridge. Based on a population growth factor of 2.3 people per job created, this could translate to 690-1932 new people in the community. This, of course, does not include population growth contributed by oil and gas activity or by people moving here to supply new services to the growing community.

As you can see, the community is a busy place, only to get busier. With that in mind, we?re always striving to make the Outlook a better resource each time that it is published. In 2008 the Economic Development department, now with more staff resources, will be publishing updates on a quarterly basis, the first will be posted in January. In addition, we will be incorporating into the Outlook the results of two projects that are scheduled to wrap up by December 2007: the Retail/Service Expansion and Recruitment Opportunities Strategy and the Tourism Investment Strategy. Both of these initiatives have flushed out the most promising business activities in each sector, which will enable the District to call attention to specific investment opportunities. More of this will be revealed when the strategies are released, so stay tuned and keep your eye on the news.