The town of Olds Alberta was recently featured in an article titled “4 More Central Alberta Towns to Build Your Commercial Business In“. What makes this town a viable option for Sylvan Lake or Red Deer businesses looking to expand beyond their borders? Let’s find out.
1. Population with Significant Current Disposable Income
The 8,235 population (near 10,000 when including the college student residents) is just the right size to form a loyal consumer following that provides a steady revenue stream for your offering. Average household income is over $100,000, with annual disposable income coming in at $56,339. Over 11% of the population has a healthy household income between $100,000 and $150,000. With a median age around 40 and a peak at the 30-34 range, Olds is young and equipped to spend.
2. Relevant (to you) Economic Prospects on the Rise
Income projections are on an uphill climb according to the most recent economic indicators report coming out of Olds. Your commercial business is building for the future to come, not the economy of last year and today. Married, with children, this Central Alberta town will weather the current economic storm to provide a consistent customer base for B2B and B2C businesses in the near and longterm future.
3. Proximity to “Mobile” Economic Centres
The secondary population available to Olds businesses is big. Very big. The town’s economic trading area equals 45,000 residents along with an additional 57,000 bodies that navigate Highway 2 (Queen Elizabeth II) each and every day. But it doesn’t stop there. With Calgary only one-hour away, there are well over 1.2 million others to consider investigating for your target market. Then there is Sylvan Lake and Red Deer, both just 45 minutes away. The individuals and households of the surrounding area are mobile, commuting, traveling, and stay-cationing in Central Alberta. With Olds being a significant provincial draw for all of its year-round activities, attractions, and events that primary population of 8,235 is just the tip of a very big iceberg.
4. A Partner in Economic Development
Next to Sylvan Lake, Olds has one of the most supportive infrastructures in place for commercial businesses entering its fold. The Olds Institute is the economic development arm of the town. It provides a distinctive, community-driven partnership that includes The Town of Olds, Olds College, the Chamber of Commerce, and the Regional Exhibition. The Institute supports the existing commercial business environment (great to know when looking to the future) and works in a collaborative effort with potential commercial enterprises coming to town. Commercial business licenses, forms, and applications for permits can be found here.
Of course, you have another key partner in your commercial development in Olds. Apple Building Systems Inc, located in Sylvan Lake and serving the entire surrounding area, is proudly devoted to helping build (literally and figuratively) the commercial infrastructure in Central Alberta. We believe in our neck of the province, and we believe in you. Contact us today.