Well wishes, from ours to yours
To say 2020 has been challenging would be an understatement. We recognize the many obstacles the business community has faced this past year but remain optimistic for 2021 as our community has been and continues to be resilient and pivotal.
As always, our team is available to discuss your challenges, opportunities, and ambitions. We're here to support local businesses and potential investors as we navigate these challenges together. Contact us to speak to a member of our team: ecdevinfo@cityofgp.com All discussions are confidential.
Wishing you happy holidays and a prosperous New Year, from our team to yours.
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Updates to Government Supports
Federal programs such as the Canada Emergency Wage Subsidy (CEWS) and Canada Emergency Rent Subsidy (CERS) have been modified and extended, along with an expansion to the Canada Emergency Business Account (CEBA). to allow greater flexibility and support for Canadian businesses during the COVID-19 pandemic.
The Provincial Government also recently announced updates to the Alberta Relaunch Grant, which offers two payments to eligible applicants, with up to $20,000 in available funding per eligible application.
The Business Resiliency Taskforce recently hosted a webinar on updates to government programs for small businesses. The webinar was presented by MNP and focused on information on the revised government subsidies for businesses, mentioned above. Topics covered were eligibility requirements, how the subsidies are calculated, and application process, periods, dates and deadlines. A recording of the webinar can be viewed on the City's Youtube Channel by clicking here.
Support through the City's Economic Recovery Program can be reviewed in the article below.
Is there a topic you are looking for more information on? Email ecdevinfo@cityofgp.com with your suggestions.
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Economic Recovery Grants Available
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 The Economic Recovery Program is designed to support businesses in the creation of employment and recovery activities in the wake of the COVID-19 Global Pandemic.
Take advantage of the colder months to start planning for a façade or landscaping project. The Beautification & Patio Grant matches 50% of Project Costs for up to a maximum $15,000 for any façade improvement, landscaping or patio project that improves aesthetic appeal, pedestrian access and safety according to the Program Guidelines. Click here for full application details.
The Local Marketing Grant matches up to 50% of Project Costs, to a maximum of $2,500 for the creation of a marketing plan or marketing content. Additionally, a grant equal to 75% Project Costs, to a maximum of $7,500 is available for the creation of a collaborative marketing plan or project promoting three or more businesses. Click here for full application details.
If you have questions or would like more information, please email economicrecovery@cityofgp.com
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The average residential sale price on homes sold in the City in November was $310,285. This brought the year-to-date average to $312,751 which is consistent with the same period last year. Unit sales were down 12% in November year over year and year-to-date unit sales are down 20%.
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The City saw 15 single-family and 2 multi-family housing starts in November, compared to 23 single-family and 1 multi-family starts for the same period in 2019. Overall, housing starts within the city are down 47.1% to-date compared to 2019.
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The region as a whole saw 66 single-family starts and 15 multi-family housing starts in the third quarter of 2020, compared to 88 single-family and 37 multi-family starts in Q3 2019. Year-to-date, starts within the region are down 55.4%
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52 permits worth over $12.3 million were issued in November down 27% in permit volume and down 84% in construction value from November 2019. The decrease compared to last year can be attributed to large institutional and commercial permits in November 2019, including the hospital and Composite High School replacement. Overall, permit volume is down 26%, and construction value is down 58% year-to-date compared to 2019.
Click on the links below for interactive maps showing where development is occurring throughout the city
Commercial l Residential l Industrial l Institutional
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The region's unemployment rate saw a decrease from 10.8% in October to 10.3% in November. Provincially, the unemployment rate decreased from 11.2% to 10.4%.
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344 drilling licenses have been issued in the Grande Prairie region so far this year, compared to 694 in 2019, a 50% decrease. Of the licenses issued to date, 106 are for oil, 231 for gas and 7 for other industry-related wells, compared to 275, 392 and 27 respectively for the same period in 2019.
Completions are down 24% so far this year, with 398 completions compared to 525 in 2019.
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473 overdimensional vehicles passed through the city in November 2020, down from the 915 vehicles recorded for November 2019. To date, the city has seen a 42% decrease in overdimensional vehicle traffic compared to 2019.
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November 2020 settled at $38.44/MWh, representing a 32% decrease from November 2019’s settle of $56.15/MWh and a 37% decrease from last month’s settle of $61.26/MWh.
After temperature adjustments, November 2020 saw a 1.6% increase in AIL (Average Internal Load) compared to November 2019. This is the first time in 2020 AIL (weather adjusted) has been up, which can be taken as a positive sign that recovery from COVID-19 load destruction is currently underway.
November 2020 did not have any triple digit daily settles, with only fourteen hours of the month settling above $100/MWh. These “highs” can be accredited to cold temperatures driving strong demand and sparse to non-existent wind generation.
For more details, check out TC Energy's Power Market
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Travel
With ongoing flight reductions, the Grande Prairie Airport saw 7,914 passengers pass through its doors in August, a 77% decrease from August 2019. Year-to-date, the airport has seen a 65% decrease in passenger traffic in 2020 compared to 2019.
In August, the average hotel occupancy rate in Grande Prairie was 37.1%, while the provincial average was 35.5%. The average occupancy to date for Grande Prairie is 37.8%, compared to the Alberta wide average of 29.8%
For additional information on the travel and tourism industry check out the Alberta Tourism Market Monitor. |
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Franchise Opportunities
When available, new franchise opportunities will be shared here.
Mr. Lube
For more information CLICK HERE
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