Northwest Industrial Business Improvement Area Economic Indicators 2018

The Northwest Industrial Business Improvement Area was created in 2001 out of a community recognized need to organize area businesses to work together to promote mutual interests and support projects that are beneficial to the area.

This Economic Indicators project was initiated by City Council to understand the overall economic well being of Edmonton’s Business Improvement Areas (BIAs). In partnership with each BIA, the City has developed a set of indicators which can be measured annually to track and report economic trends.

100%

0%

50%

individual businesses are thrivingbusinesses report they are stable, growing or in decline

number of licenced businesses year over year

businesses report they are satisfied with the mix of existing businesses in the area

number of businesses within a BIA is stable or growing

Growing

Stable

Declining

+332016

New Licenses

Increase in respondents who reported growing success*

* Data for 2017-2018

Decrease in respondents who indicated satisfaction*

Increase in New Licenses*Increase in Total Licenses* =10 New Business Licences

2017 n=46

32.6%

38.3%

28.3%

46.7%

23.9%

13.3%

2018 n=60

0% 25% 50%

Total Licensed Businesses: 223

Total Licensed Businesses: 240Change from 2016: 17

Total Licensed Businesses: 245Change from 2017: 5

2017 n=42 2018 n=54

Not satisfied

Neither satisfied nor unsatisfied

Satisfied

4.3%

13%

73.9%

5%

28.3%

56.7%

+222017

New Licenses

+302018

New Licenses

businesses report the area is safe

Decrease in respondents who agreed*

2017 n=46 2018 n=55

Disagree Neither agree nor disagree

Agree

100%

0%

50%

0% 6.5%

93.5%

11.7% 15%

65%

50%

0%

25%

satisfaction with maintenance of roads and sidewalks in the bia

bia property is desirable

retail storefront vacancy rate

average commercial assessment value, by asset type

7.59%2018

* Data for 2017-2018

Not satisfied

Neither satisfied nor unsatisfied

Don’t Know / Not Stated

Satisfied

23.3%

41.7%

28.3%

6.7%

property is being improved

The number of building permits and total construction value have increased.*

number and value of building permits

27, with a total construction value of $9.3M20

16

30, with a total construction value of $4.5M20

17

49, with a total construction value of $27.3M20

18

= 1 building permit

Total Average$11,087,064

Total Average$9,883,520

Total Average$10,616,452

201620172018

Industrial$11,647,995

Industrial$10,409,350

Industrial$11,234,345

201620172018

Office $12,986,700

Office $12,571,200

Office $12,637,900

201620172018

2018 n=60

Methodology

The results in this report reflect data collected from internal City of Edmonton data sources (such as permit and licence applications) and from a series of surveys. Surveys were conducted with businesses and members of the public, including patrons and residents living near the BIA. These surveys were completed online, in-person, and via telephone during October and November of 2018. The study of vacant retail storefronts was conducted in August 2018.

The reporting period for the Economic Indicators is from January to December each calendar year.

For additional information please contact smallbusiness@edmonton.ca

Acknowledgements

This project would not have been possible without the support and partnership of the BIAs and their member businesses. We wish to extend our sincere thanks to the Executive Directors and Boards for their participation, advice, and direction throughout this project.

Number of Licensesat this Location

12 - 1011 - 5051+

118A AVE 118 AVE

114 AVE

111 AVE

184

ST

174

ST

AN

THO

NY

HEN

DAY

DRI

VE

N