AFPA Releases New Economic Impact Report
A new economic report released by the Alberta Forest Products Association (AFPA) shows that Alberta’s forest sector contributes to and facilitates significant economic activity and employment opportunities in every region of the province.
Of the eight economic regions in the province, the report finds that the majority of the sector’s economic footprint is heavily concentrated in the Athabasca-Grande Prairie-Peace River Region, where 57 per cent of the province’s forestry operations are based. The region hosted more than 6,600 jobs and generated $4.3 billion in GDP in 2020– 28 per cent of the sector’s entire GDP footprint in Alberta.
To find out more about what the forest sector contributes to the Grande Prairie region, read the full report at https://adobe.ly/39UAjim
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What makes your business
innovative or unique?
How did your business come to be?
Tell us your story by emailing ecdevinfo@cityofgp.com.
To be considered, businesses must be within Grande Prairie city limits, and have a business license. Please note: Not all submitted stories will be published.
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Refresh Your Business Property With The Business Revitalization Grant
A grant matching 50% of construction costs up to a maximum grant amount of $25,000.
The Business Revitalization Grant is designed to enable revitalization of business properties through exterior property improvements that improve the aesthetic appeal, access and/or safety.
Eligibility:
- Commercial or industrial exterior building and property improvements with a minimum hard cost of $10,000.
- No construction can be performed prior to signing a Reimbursement Agreement with the City.
Learn more details and apply now by visiting our website.
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In May 2022, 183 homes were sold in the city, up from the 138 sold in May 2021 and 55 in May 2020. The average residential sale price in May was $331,504, a 5% increase from May 2021.
Year-to-date, 736 homes have sold in the city a 21% increase from the same period last year.
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Grande Prairie saw 22 single-family starts and 7 multi-family starts in May, compared to 15 single-family and 4 multi-family starts in the same month last year.
As of the end of May, the city has seen a 25.9% increase in total starts compared to the same time in 2021.
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80 building permits worth over $8.7 million were issued in May 2022, compared to 56 permits worth over $8.1 million in May 2021, a 12% increase in volume and 7.7% increase in value.
The increase in volume in May 2022 is due to numerous tenant improvements and expansion to current businesses, additional baseball dugouts and a new patio for a business downtown.
The City’s Open Data Portal now includes building permit data. Click on the links below for interactive data showing permit details mapped out across the city.
2022 Data I 2021 Data | 2020 Data
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The region's unemployment rate remained steady at 4.7% for last month. Provincially, the unemployment rate saw a decrease from 6.7% in April to 6.0% in May.
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390 Drilling Licenses have been issued in the Grande Prairie region this year, up 41% from the 276 Drilling Licenses for the same period in 2021. Of the licenses issued to-date in 2022, 130 were for oil, 247 for gas and 13 for other industry-related wells, compared to 85 oil, and 187 gas and 4 for other industry-related wells in 2021.
Completions were up 60%, with 409 completions year-to-date for 2022 compared to 256 for the same period last year in 2021.
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468 overdimensional vehicles passed through the city in May 2022, an over 49% increase from the 380 vehicles recorded for May 2021. Year to date, the City has seen 3,414 overdimensional vehicles.
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May 2022 settled at $121.24/MWh, representing a 42% increase from May 2021’s settle of $85.39/MWh, and a 4% increase from last month’s settle of $117.14/MWh. The maximum pool price was $737.63/MWh, compared to $718.47/MWh in April.
The average price between the on-peak and off-peak for May differed by $45.61/MWh, resulting in on-peak and off-peak prices of $136.44/MWh and $90.84/ MWh, respectively. May forwards traded between $86.25 and $102.50, 30 days preceding the month.
For more details, check out TC Energy's Power Market.
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The Grande Prairie Airport saw 16,470 passengers pass through its doors in April 2022, compared to 4,029 in 2021, an 309% increase.
The average hotel occupancy rate in Grande Prairie was 56.5% for April 2022, while the provincial average was 52.9%. Grande Prairie's occupancy rate was the third-highest among mid-sized cities in Alberta, behind only Medicine Hat and Sherwood Park.
For additional information on the travel and tourism industry check out the Alberta Tourism Market Monitor.
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Level Up Series: The Marketing Mix
Hosted by: Business Link
Thursday, Jun 30, 1:00PM-2:00PM
Register here
Level Up Series: Social Success
Hosted by: Business Link
Thursday, July 14, 1:00PM-2:00PM
Register here
Level Up Series: Email Marketing
Hosted by: Business Link
Thursday, July 28, 1:00PM-2:00PM
Register here
Level Up Series: Metrics that Matter
Hosted by: Business Link
Thursday, August 11, 1:00PM-2:00PM
Register here
Level Up Series: Social Selling
Hosted by: Business Link
Thursday, August 25, 1:00PM-2:00PM
Register here
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