Powell River, BC

Only a half hour flight north of Vancouver, Powell River has become a hotspot for businesses, families and retirees relocating from urban centres from across North America and the World. Located approximately 135 kilometres north of Vancouver, the community offers a wonderful mixture of urban and rural amenities that contribute to a 'Superior Quality of Life'.

A recent Real Estate Trends study shows that Powell River is becoming a popular choice because of its...

• Low cost of living
• Low cost of doing business and positive regulatory environment
• Affordable and desirable properties
• Excellent infrastructure (Health Services/ Recreation Facilities/ Schools)
• Natural Beauty
• Vibrant Arts and Culture sector (Named a Cultural Capital of Canada in 2004)
• Safety (Low Crime Rate)

Add to that...solid transportation links, a skilled resident workforce, post secondary training and strong telecommunications infrastructure, and you have a winning combination for any business and its employees.

Urban/Rural Mix
The Powell River region is an interesting mix of urban and rural. A majority of the population resides within the Municipality of Powell River. Outside of the Municipality are the small communities of Lund, Saltery Bay, and Sliammon. The region also includes the residents of Texada and Savary Islands.

Population Growth
The population in the Powell River region has been growing with estimates at 1.38% in 2006, which is above the provincial average of 1.24%. The City of Powell River grew the most over the past year with the addition of 205 new residents. That translates into a growth rate of 1.48%.

Real Estate Market
The Powell River Real Estate Market slowed down in 2006 compared to very hot years in 2004 and 2005. The market continued to tighten up as inventories dropped, thereby pushing sales values up by another 20% (35% increase in 2005). About 60% of all sales in 2004, 2005 and 2006 were attributed to buyers from outside on the Powell River region.

Construction Activity
Construction activity in the Powell River region is another indicator that the local economy is strengthening significantly. Although 2006 saw a slight decrease in building activity from 2005 (26.4 million to 18.5 million), there was an increase in the amount of commercial structures being built within the city as values rose from $2.5 million to $4.4 million.

Transportation
The Powell River region is serviced by a number of solid transportation links. Flying out of Powell River you can reach Vancouver International Airport in 25 minutes. Short flights are also available to Abbotsford and Comox on Vancouver Island. All of these terminals give travelers access to destinations anywhere in North America and the World.

Pro-Active Municipal Government Thanks to a progressive local government, Powell River provides a stable and low cost environment for investors. The municipality was one of the first in BC to recognize that it could not put a majority of the tax burden on Industry and made the decision to reduce its industrial tax rates over 5 years. This move allows the community's largest employer, Catalyst Paper Inc. to realize a cumulative savings of $3 million.

Industrial Lands
New industrial lands have recently become available adjacent to Catalyst Paper Corp.'s manufacturing facility at the northern end of the City's waterfront. Over 100 acres have been designated for industrial development and unlike many other centres are already zoned for the purpose, thereby eliminating the need to wade through bureaucratic red tape.

Value Added Wood Manufacturing
Local Furniture, Flooring, Cabinet and Specialty Cut Lumber manufacturers are experiencing a marked increase in production. Some have doubled their staffing levels and expanded their markets to the United States and Europe. The establishment of a community forest license in the region in 2005 is expected to fuel further growth in this sector in the future.

Shellfish Aquaculture & Seafood Processing
The shellfish farming sector has experienced significant growth in the last few years and is poised to expand further with the establishment of new seafood processing facilities in the Powell River region. One international seafood company has invested over a million dollars into operations in the Okeover Arm area and is seriously considering an even larger investment in the near future. The number of people employed by this sector is projected to double in the next five years.

Cultural Capital
Powell River has a rich cultural fabric as evidenced by its designation as a "Cultural Capital of Canada" in 2004. The community boasts a wide range of artistic and cultural disciplines that have contributed to new investment in the local economy.