The Town of Coaldale reports that its business community is growing quickly. (Photo: Lethbridge News Now)

By David Opinko

Value of Coaldale’s business community doubles in six years: report

Aug 9, 2024 | 11:19 AM

COALDALE, AB – The Town of Coaldale says business is booming.

Officials are continuing to release the results of the Town’s 2023 Comparative Analysis, which pits the municipality against eight other similarly-sized and neighbouring communities.

They include Blackfalds, Drumheller, Edson, Innisfail, Lethbridge, Lethbridge County, Ponoka and Taber.

Over the last six years, the report shows that the assessed value of Coaldale’s business community doubled from over $84 million to nearly $169 million.

The per capita growth in non-residential assessments between 2018-2024 was $9,261, the most of the communities that were included in the analysis.

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According to the Comparative Analysis, “That amounts to 77% more per capita growth than neighbouring Lethbridge County ($5,226), 122% more per capita growth than neighbouring Lethbridge ($4,170), and 190% more per capita growth than neighbouring Taber ($3,189).”

It was a similar picture for residential assessments, which increased in Coaldale by just over $30,000 per capita in that time.

The growth occurred during a period where residential and non-residential mill rates decreased by 5.29 per cent and 3.41 per cent respectively.

Mayor Jack Van Rijn says Coaldale town council has been focused on creating a collaborative and regulatory environment aimed at attracting new businesses.

“What this looks like in practice is keeping our non-residential mill rates comparatively low and then saying ‘yes’ to prospective businesses and investors as we find ways to reduce red tape and help them set up shop in a timely and efficient manner,” says Van Rijn.

The full 2023 Comparative Analysis can be found on the Town of Coaldale’s website.

READ MORE: Lethbridge News Now

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