Local entrepreneurs pushing Lethbridge ahead with a healthy economic wellbeing
LETHBRIDGE – As we enter into a new year, it’s fitting to thank those who have contributed to the economic wellbeing we’ve enjoyed here in Lethbridge.
Thank you to the businesses and entrepreneurs that call Lethbridge and the surrounding area home. You have helped protect us from the worst of the jobs crisis in Alberta. Your continued success has demonstrated a tenacious and innovative spirit that has enriched us all. Despite increased taxes, government red tape and new policies that have caused significant job losses in other parts of the province, our Lethbridge entrepreneurs have helped us weather the storm.
Lethbridge is frequently mentioned in top ten lists for being one of the best places to do business in Canada. In December, Lethbridge’s unemployment rate was 6.4%, which is significantly lower than the Alberta average of 8.1%. While Alberta’s unemployment rate increased by 1.7% last year, it only increased by half of that (0.7%) in Lethbridge.
There is over $500 million in private investment in major business developments planned for Lethbridge in the next year. There was also a significant increase in building permits in 2016, at a time when permits were decreasing in most of the province.