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Retail, oil and gas sectors highlight positives in local economy

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A surge in the retail sector along with the usual suspects of oil and gas and agriculture are highlighted as major positives for the region in the 2019 Grande Prairie economic guide.

The recently released report states the area around the city has combined for $3.7 billion in retail trade spending in 2018. With just over 4 million square feet of retail space currently operating. One official points out a pair of big grand openings which could make things even rosier for the future.

“We had some major openings this year with the largest single storey Canadian Tire opening as well as the largest Ford dealership in Canada opening as well. Those are great economic indicators,” says Senior Economic Development Officer Rebecca Leigh.

The Oil and gas sector remains a major economic driver with two-thirds of all rigs in Canada operating in the Grande Prairie region. Leigh says despite the rest of the province facing some tough times recently, the city remains ahead of the curve on the upswing.

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“The ongoing investment that we continue to see in the oil and gas industry in the surrounding areas. There are a lot of projects going on that people don’t necessarily realize are going in our area. We recognize obviously that Alberta and the oil and gas as a whole continues to face challenges, but really Grande Prairie right now very fortunately situated. We are a bit of a bright spot in the economy in Alberta here.”

You can read the full report here.

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